ByteDance plans to replicate its China playbook in India by creating a bouquet of apps.
The company has acqui-hired health tech startup FloCare and B2B wholesale trading platform BigTrade.
Walmart’s stake in PhonePe alone could be worth more than $14 billion in the medium term.
Chasing India’s next wave of internet users, Swiggy and Zomato take the battle to tier-II and III cities.
Top investors in both startups are likely to hold stakes in the merged entity.
Ola will focus on cloud kitchens that was launched after Foodpanda bought Holachef in October.
If the deal goes through, it will mark SoftBank’s first independent investment in the content space.
SoftBank Ventures Asia will look to sign cheques worth $10-20 million in the consumer internet space.
The round also saw participation from existing investors Kalaari Capital and IDG Ventures India, along with a slew of new investors.
Dunzo competes with the likes of Swiggy that has deep-pocketed investors backing it.
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