By Sam Nussey
The move would provide the fund’s investors significant exposure to the ride-sharing industry, which is being shaken up by consolidation in which SoftBank is playing a role.
Deal includes $2 billion of funding from new equity in Flipkart, which could be sold to additional investors in the future.
“I think we announced it last night,” he said, during an investor call after his own company’s earnings. “If not, well then that means I’m just spouting this out. In any case, it’s been decided.”
Walmart will buy roughly 70% of Flipkart; it will invest $2b in fresh capital & buy rest from existing Flipkart investors
Narayanan is bullish about maintaining its high growth rate and is investing in new spaces such as personal care, home, jewellery and wearable technology.
Grab now controls more than 90% of the ride-hailing market in the Philippines but struggles to keep up with demand.
BigBasket, which raised $300 million from Alibaba Group Holding Ltd and others in February, is in talks to raise between $300 million and $500 million from Alibaba and new investors.
The license allows volt, which has raised A$15.7 million in equity for research and platform testing, to raise A$2 million in deposits via its online platform.
SoftBank may retain all of its stake for at least one year more to avoid paying a large tax
Ant Financial is in the process of raising at least $10 billion at a $150 billion valuation from investors led by Temasek Holdings Pte.