Ecommerce giant Snapdeal has reportedly raised $500 million from Alibaba, Apple iPhone maker Foxconn and existing investor Softbank, reports re/code. In October last year, Snapdeal had raised $627 million from Softbank, with the latter being the largest investor in Snapdeal at that point. SoftBank Internet and Media Inc (SIMI) CEO Nikesh Arora joined Snapdeal’s board as part of the investment. At that time, Snapdeal claimed to have over 25 million registered users, 50,000 merchants and over 5 million products across 500 categories. A Business Standard report mentioned that Snapdeal had a gross merchandise value (GMV) of $2 billion at the end of 2014. Data released by Softbank in its presentation claimed that Snapdeal’s GMV had grown 301% year on year from March 2014 to March 2015. Letsgomo acquisition: In June, Snapdeal acquired mobility solutions company Letsgomo Labs. With the acquisition, the 76 member Letsgomo team joined Snapdeal. It was not yet clear whether Letsgomo could continue to operate independently or merge with Snapdeal. Letsgomo consulted businesses regarding building mobile strategies, conceptualization of applications and mobile sites, implementation and hosting. MartMobi acquisition: In May, it acquired Hyderabad-based mobile technology startup MartMobi for an undisclosed amount. At that time, the company had said that this acquisition would allow Snapdeal to provide merchants on its platform better mobility options. Snapdeal co-founder Rohit Bansal Freecharge acquisition: In April, Snapdeal acquired online recharge and couponing site Freecharge. The value and terms of the deal weren’t disclosed, but the deal was pegged at a value of about…
