Utilize the input text as a context reference, choose the right relationship between Snapdeal and e-commerce from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

Infibeam's IPO comes at a time of intense competition in India's e-commerce sector, with high cash burn rates at industry leaders Flipkart, Snapdeal and Amazon.com's India unit.

Answer: industry