Speculations also suggest that Alibaba-backed Paytm is also in fray as a potential buyer. Alibaba is also a shareholder in Snapdeal. So far, Snapdeal and SoftBank have continued to decline to comment on the matter. The deal, if completed, would mark the biggest acquisition in the Indian e-commerce space and change the landscape of the sector that is witnessing intense competition among players. Sources have said one of the hurdles is valuation, as Kalaari Capital and Nexus Venture Partners have not agreed with the valuation given by SoftBank. Snapdeal was valued at $6.5 billion in its last funding round in February 2016. The valuation has also shrunk since then and the potential deal could be struck at a discounted rate.