SoftBank Corp adds another India-born Rajeev Misra to board of directors

SoftBank had added India-born Rajeev Misra who has been heading the firm’s Vision Fund since over seven months, into the company’s board of members. Misra will be the second major Indian-origin executive to join SoftBank’s board after former Google executive

SoftBank denies TOI claim that CFO stepped down from fund under pressure

Softbank denies TOI claims that Softbank CFO Sama resigns due to pressure from SoftBank Vision Fund’s (SVF’s) key sponsors -Saudi Arabia and Abu Dhabi. TOI published a news yesterday claiming Softbank CFO stepped down from the fund under pressure. Softbank’s

Paytm raised $1.4 billion from Softbank

Fintech company Paytm gets $1.4 billion from Softbank valuing the payments firm at $8 billion post investment according to TOI. Softbank Is now betting on another Indian Startup leader after Ola and Snapdeal. One97 founder and chief executive officer, Vijay

Freecharge raised ₹22 crore from its parent company Jasper Infotech

Digital payment platform Freecharge raised ₹22 crore from its parent company Jasper Infotech. According to documents filed with the Registrar of Companies (ROC), and accessed by Tofler, a corporate research and monitoring platform, FreeCharge Payment Technologies, at its Board meeting

Snapdeal-Flipkart deal may leave Snapdeal employees richer by Rs 193 Cr

Sale of a company often leaves employees high and dry, but not in the case of Snapdeal that may offer a Rs 193 crore bonanza to its staff if the homegrown e-commerce firm is taken over by larger rival Flipkart.

Done deal? Softbank gets Nexus’ nod for selling Snapdeal to Flipkart

Japan’s SoftBank has secured the crucial nod from co-investor Nexus Venture Partners (NVP) for sale of Snapdeal to India’s largest e-commerce firm, Flipkart, sources said. SoftBank — the largest shareholder in Snapdeal — had secured a go-ahead from the founders

Softbank a step closer to bring Nexus on board for Snapdeal Sale

Japan’s SoftBank is believed to have moved a step closer to securing the consent of co- investor Nexus Venture Partners (NVP) for selling Snapdeal to India’s largest e-commerce firm Flipkart. A meeting was held today and the impasse over the

Ola’s losses doubled in Fy2016 as costs rise

SoftBank-backed cab aggregator Ola posted a consolidated loss of over Rs 2,311 crore — about Rs 6 crore a day — during fiscal 2015-16, on account of heavy advertising and promotional expenses and high employee cost. The Bengaluru-based firm, which

Paytm in talks to raise over $1 bn from SoftBank

  Fintech company Paytm is believed to be in discussions with Japanese conglomerate SoftBank to raise over $1 billion. The deal, if successful, will value the Alibaba-backed Paytm at over $7 billion from the current $5 billion, multiple sources said.

Another Big merger coming-up: BigBasket, Grofers begin merger talks

Online grocer BigBasket and smaller rival Grofers India Pvt. Ltd. has initiated talks for a merger that, if consummated, will also see SoftBank Group, an existing investor in the latter, participate in a $60-100 million funding round in the merged

OLA raised 1,675 Cr from Softbank in Fresh Funding Round

Japanese investor SoftBank has pumped in about Rs. 1,675 crore in fresh funding in Indian transportation start-up Ola to give it more muscle to take the American rival Uber head-on. SoftBank subsidiary SIMI Pacific Pte has picked up 12,97,945 shares

Snapdeal CEO Kunal Bahl assures employees of job safety and promotions in an email

As Gurgaon-based e-commerce firm Snapdeal’s largest investor, SoftBank, pushes for a sale of the online marketplace, CEO and Co-founder Kunal Bahl has written to employees, reiterating that their well-being continues to be “top priority” for the founders and that increments

Snapdeal sounds out SBI Caps, Kotak Capital, 3 others for 2019 IPO

Struggling e-commerce major Snapdeal has sounded out five merchant bankers, including SBI Caps and Kotak Mahindra Capital, to work on a public offer that is likely to hit the market in the second half of 2019. Related: Indian entrepreneurs Success stories

Softbank backing Snapdeal – Flipkart merger

SoftBank is backing the Snapdeal – Flipkart merger which could be the biggest merger or acquisition deal in the Indian e-commerce sector. Last month idea-Vodafone go for the biggest merger in the telecom sector. Softbank is the biggest investor in the

E-Commerce Giant Snapdeal in talks with SoftBank to raise funds at lower valuation

Snapdeal has initiated discussions  to raise fresh funds largely from existing investor SoftBank Group Corp. at a significantly lower valuation than the $6.5 billion peak it touched in its previous round, as per Mint reported. Snapdeal and SoftBank have discussed

Alibaba to Buy Control of Rocket Internet’s Lazada for $1 Billion

China’s Alibaba Group Holding Ltd said on Tuesday it has agreed to buy a controlling stake in online retailer Lazada for about $1 billion (roughly Rs. 6,649 crores) to expand its e-commerce business into Southeast Asia. Lazada Group, founded by

Snapdeal raises $200 million, giving it $6.5 billion market value

Online market place Snapdeal has raised $200 million from Ontario Teachers’ Pension Plan and other investors as it looks to add more muscle to compete with likes of Amazon and Flipkart. The latest fund-raising follows $500 million raised last August

SoftBank Confirms: OYO Rooms has acquired Zo Rooms

Budget hotel accommodation aggregator Oyo Rooms has acquired rival Zo Rooms. Oyo’s lead investor, Japanese telecom and internet firm Softbank, announced the acquisition in its earnings report on Wednesday without specifying the deal value. The deal is likely to be signed

Housing.com secures Rs 100 crore investment from SoftBank

Japan-based SoftBank has invested an additional Rs 100 crore in Housing.com to drive the growth of the realty portal. Announcing the fresh funding, Mumbai-based Housing.com said that “it has secured a fresh round of funding from SoftBank, its largest investor”.

Significant traction in startup investments in 2015: Grant Thornton

Investment momentum in startups has witnessed a rapid rise in the last five years and in 2015, over 600 companies got funded with more than $2 billion being deployed by PE and VC funds. According to assurance, tax and advisory

Leading CEOs, VC’s, Angel Investors to offer inputs to start-up plan

About 40 leading business leaders, venture capitalists and around 2,000 start-ups would offer key inputs to the action plan to be launched by Prime Minister Narendra Modi on January 16 for encouraging budding entrepreneurs. The government on January 16 is

Snapdeal to invest in logistics to compete with Flipkart and Amazon

Online marketplace Snapdeal, backed by Japan’s SoftBank Group Corp and others, will spend more on logistics and technology to better compete with Flipkart and Amazon’s Indian unit, its co-founder said on Monday. Shopping online is becoming more popular in India

Investors’ pressure push start-ups against the wall: Ronnie Screwvala

Pressure from investors is forcing start-ups to scale up operations too fast, says media entrepreneur and UTV Group founder Ronnie Screwvala. “Several start-ups have had to scale back operations lately. It is not an ecosystem issue, but plain silly investor

Ola Partners MapmyIndia for Better Navigation

Taxi aggregator Ola on Friday announced its partnership with MapmyIndia by acquiring a multi-year licence. “Through this partnership, Ola will get complete access to mapping data from MapmyIndia, which has the IP ownership for the most comprehensive, accurate and updated

Housing.com Announces Layoffs; Plan to focus purely on the home-buying segment.

Real estate listings platform Housing.com announced Thursday its restructuring plan to focus purely on the home-buying segment. Housing.com said that it will be reducing its employee base, and reorganising its teams to more efficiently execute this new focused strategy, but

Ola Raises $500 Million From SoftBank, Didi Kuaidi, and Others; Now Valued at $ 5 Billion

Taxi aggregator Ola has raised $500 million (around Rs. 3,299 crores) from Baillie Gifford, Tiger Global, SoftBank Group and others to fuel capacity building and drive new use cases as it up the ante to compete with rivals like US-based

‘Phenomenal Time’ to Be an Entrepreneur in India: Softbank’s Nikesh Arora

Doing business in India is not easy but the growing pace of innovation and the government bringing in policies to foster the “start-up culture” are making it a phenomenal time to be an entrepreneur, Softbank vice president Nikesh Arora said

Snapdeal picks up stake in hyperlocal grocery delivery start-up PepperTap in $36M funding round

India’s second-largest online retailer, Snapdeal, run by Jasper Infotech Pvt. Ltd has picked up minority stake in hyper-local grocery delivery service, PepperTap, leading a USD 36 million funding round. PepperTap, which is looking to raise up to USD 20 million more