Categories: Business

SOFTBANK TO INVEST IN FLIPKART

SoftBank, which is already invested in online grocer Grofers and cab ola. Softbank also tried to share swap transaction between…

SoftBank, which is already invested in online grocer Grofers and cab ola.

Softbank also tried to share swap transaction between Snapdeal and Flipkart which is the India’slargest two e-commerce website. That deal would have given SoftBank, as Snapdeal’s largest shareholder, a significant stake in Flipkart, but it was declined by Snapdeal’s founders Kunal Bahl and Rohit Bansal on Monday.

But the SoftBank founder Masayoshi Son was still eager to invest in Flipkart through his Vision Fund and Vision Fund’s planned investment is not dependent on a both e-commerce site.

The Indian Site Flipkart is the biggest challenger to the US based commerce site Amazon.

From the Sofrbank side “ It follows an independent process and judges every investment on its own merit”.

It has raised more than $93 billion from investors including Saudi Arabia’s main sovereign wealth fund and Apple.

Share
Published by
Aravind
Tags: flipkartSnapdealsoftbank

Recent Posts

Bigg Boss Tamil Vote | Online Voting { Season 2 }

Bigg Boss Tamil Vote:  If you are looking for saving your favourite bigg boss Tamil contestant from being eliminated this…

June 25, 2018 11:20 am

A large Asteroid to safely pass by Earth on Septmber 1: NASA

A large asteroid will pass safely by our planet on September 1, at a distance of seven million kilometres, or…

June 6, 2018 2:24 am

STARC TO BE RESTED FOR INDIAs TOUR

The Australian Fast bowler Mitchell Starc will miss Australia’s limited-overs and Twenty20 tours of India starting in September. The Cricket…

June 5, 2018 10:14 pm

STAR WARS TO BE DIRECTED BY STEPHEN DALDRYIN

Director Stephen DaldryIn is in talks with a Star Wars "OBI-Wan Kenobi"  spin-off with to held with the project. According…

June 5, 2018 5:42 pm

KERALA HITS HIGH TRAFFIC TO SEE SUNNY LEONE

Thousands of fans gathered to see Sunny Leone, a Bollywood actress who had come to Kochi for the opening of…

June 5, 2018 5:42 pm

I’LL NOT ENTER BIG BOSS AGAIN: OVIYA

Oviya said that she would not go to the big boss anymore as a competitor. Oviya's speech and performance in…

June 5, 2018 1:30 pm