SoftBank to invest in Flipkart
By MYBRANDBOOK
According to reports, SoftBank Group Corp. is in talks with Flipkart to invest $700 million. The proposed investment in Flipkart from SoftBank’s Vision Fund 2 is part of a $1.2-1.5 billion funding round. The transaction is expected to value Flipkart at $28 billion, one of the people said, adding that the deal is expected to close in 3-4 months.
The transaction could value Flipkart at as much as $30 billion, depending on the final set of investors. Prosus Ventures, the investment arm of South African conglomerate Naspers, and other existing investors could raise their stakes, the people said.
The transaction will precede a proposed listing of the company, slated to be in the next 12-18 months, the first person said. The investors signing up for the ongoing round expect Flipkart’s valuation to rise to around $35-40 billion by then, with online sales surging because of the pandemic.
Singapore’s sovereign wealth fund GIC and Canadian pension fund CPPIB are also in talks to invest in Flipkart. Flipkart is unlikely to go for another funding round before its IPO. Investment banks JPMorgan and Goldman Sachs are managing the transaction for Flipkart.
This is SoftBank’s second entry as an investor in Flipkart. It exited the company in May 2018. The proposed deal is also happening at nearly twice the valuation at which it sold its stake three years ago.
SoftBank Vision Fund 2 has made aggressive bets in India this year. It is now set to invest in food delivery unicorn Swiggy, which would be its first bet in the foodtech space.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
BHARAT ELECTRONICS LTD.
INFOSYS TECHNOLOGIES PVT. LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
EXIDE INDUSTRIES LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SANJAY NAYAR
Sanjay Nayar is a senior finance professional in the Indian private in...
Icons Of India : PRATIVA MOHAPATRA
Prativa is a transformational leader with an incredible breadth of exp...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
PARTNER SPEAKERS
PSU
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
IFFCO - Indian Farmers Fertiliser Cooperative
IFFCO operates as a cooperative society owned and controlled by its fa...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...
Indian Tech Talent Excelling The Tech World - ARVIND KRISHNA, CEO – IBM
Arvind Krishna, an Indian-American business executive, serves as the C...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
