Alibaba in funding talks with India's Snapdeal - source

SHANGHAI/MUMBAI (Reuters) - Alibaba is in talks with Indian online marketplace Snapdeal over a potential cash investment, a source familiar with the negotiations said, in what would be the Chinese e-commerce giant's first direct investment in India. Snapdeal competes in India with bigger rivals Flipkart.com and Amazon.com, and media reports have said it is seeking $1 billion in its latest funding round to fuel growth. In October last year, Snapdeal secured a $627 million (416 million pounds