Flipkart’s Sachin Bansal looks to invest $100m in Ola – Report

Sachin Bansal, co-founder, Flipkart. Photo: Hemant Mishra/Mint

Months after his exit from e-commerce major Flipkart, co-founder Sachin Bansal is planning to invest up to $100 million in Indian ride-hailing firm Ola, said a report in The Economic Times quoting sources.

It was recently also reported that South African internet conglomerate Naspers LLC was in talks to invest in ANI Technologies Pvt. Ltd, which owns ride-hailing company Ola, at a valuation of $7-8 billion. Singapore’s Temasek Holdings Pvt. Ltd and two other funds have also been rumoured to be among investors likely to participate in Ola’s bid to raise $1 billion in fresh capital.

Earlier this year, Bansal had exited Flipkart by selling his entire shareholding of 5.5 per cent to global retail giant Walmart, which acquired a controlling stake of 77 per cent in the e-commerce retailer. According to news reports, Sachin Bansal pocketed around $1 billion from the share sale that closed in August.

Per the latest Economic Times report, Bansal will primarily subscribe to new Ola shares and could buy a small stake through a secondary sale by existing investors. The deal is also likely to value Ola at around $3-4.5 billion–similar to its recent secondary and primary transactions.

Bansal has been an active angel investor since 2014, investing around $1-2 million in early-stage companies.

Last October, Ola had raised $1.1 billion from SoftBank Group Corp. and Tencent Holdings Ltd, among others. It had announced back then that it would raise $1 billion more.

Also Read:

India: Flipkart may appoint new group CEO in place of Binny Bansal

Walmart completes deal to buy Flipkart for $16b

India’s Ola in funding talks with Naspers at a valuation of $7-8b

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.