Update: SoftBank Internet and Media Inc (SIMI) has officially confirmed (pdf) that SoftBank Group is investing $627 million in Snapdeal. With this investment, SIMI mentions that SoftBank Group is now the largest investor in Snapdeal. SIMI CEO Nikesh Arora is joining the company board as part of the investment. Snapdeal claims to currently have more than 25 million registered users and more than 50,000…
