NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / SoftBank buys stake in Flipkart, becomes its largest shareholder
    Business

    SoftBank buys stake in Flipkart, becomes its largest shareholder

    SoftBank buys stake in Flipkart, becomes its largest shareholder
    Written by NewsBytes Desk
    Aug 10, 2017, 03:38 pm 2 min read
    SoftBank buys stake in Flipkart, becomes its largest shareholder

    Flipkart just announced that it has received a mix of primary and secondary capital from the SoftBank Vision Fund. Calling it the "biggest ever private investment" its statement mentioned that from now on Vision Fund will be one of the largest shareholders in the home-grown e-commerce firm. Flipkart now has an excess of $4 billion of cash in its balance sheet. Here's more.

    Flipkart and SoftBank shake hands, Amazon your turn

    This investment was part of Flipkart's previously announced financing round which saw the e-commerce giant raising capital from three bigwigs of the tech world- Tencent, eBay and Microsoft. Co-Founders of Flipkart, Binny and Sachin Bansal, said, "We're excited to welcome the Vision Fund as a long-term partner as we continue to build our business with a focus on serving the needs of all Indians"

    Son is betting on the winner horse

    Founder & CEO of SoftBank, Masayoshi Son, gave a statement saying, "We want to support innovative companies that are clear winners in India because they are best positioned to leverage technology and help people lead better lives. As the pioneers in Indian e-commerce, Flipkart is doing that every day." However, the exact amount of this investment has not yet been divulged.

    Flipkart can easily consolidate market share now

    Currently, Flipkart group consists of its own platform, Myntra, Jabong, PhonePe which is a payments platform, and the recently acquired eBay.in. Initially, Son's plan was to merge Snapdeal and Flipkart together, however, that didn't come through. Looks like Son was really keen on investing in Flipkart and therefore decided to go ahead with a separate deal altogether.

    This is a win-win for both

    Son now has stakes in two of the biggest Indian start-ups, Flipkart and Paytm. His initial Indian investments had been rocky, but he is getting the hang of it and is making all the right moves. Flipkart's biggest grievance till date has been- not having enough capital to take the fight with Amazon. Now, it is going to give Jeff Bezos a hard time!

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    Flipkart
    eBay
    Sachin Bansal
    Startups

    Latest

    National Pop Art Day: History, significance, and unknown facts Lifestyle
    Shruti Haasan birthday special: 5 must-watch films of the actor Shruti Haasan
    Check out the 5 most expensive pets in the world Pets
    Upcoming smartphones in India: From S23 Ultra to Coca-Cola Phone Upcoming Mobile Phones

    Flipkart

    Infinix Note 12i launched at Rs. 10,000: Check features Infinix Mobile
    Infinix ZERO 5G to debut in India on February 4 Upcoming Mobile Phones
    Apple's MacBook Air (2020) gets Rs. 40,000 discount on Flipkart Apple MacBook Air
    MSI Bravo 15 gaming laptop gets cheaper on Flipkart Gaming Laptops

    eBay

    OnePlus 9 appears in live images; design and specifications confirmed Ram (Random Access Memory)
    NewsBytes Briefing: Microsoft 365 suffered an outage, and more Twitter
    #CoronavirusOutbreak: Buttler's 2019 World Cup shirt raises £65,000 Cricket: News, Stats and more!
    Amazon boss Jeff Bezos visits India as traders plan protest Mukesh Ambani

    Sachin Bansal

    Flipkart, founders, nine others slapped with Rs. 10,600-crore ED notice Flipkart
    Flipkart co-founder Sachin Bansal's wife alleges dowry harassment Flipkart
    Five famous alumni of IIT Delhi you should know about India
    Flipkart co-founder Sachin Bansal invests Rs. 650cr in Ola Flipkart

    Startups

    Two ShareChat founders step down soon after layoffs: Here's why Google
    Swiggy fires 380 employees amid 'challenging economic conditions' Swiggy
    GoMechanic fires 70% of its workforce; financial books under scanner Indian Startups
    Meet Beatoven.ai, the AI that can create original, royalty-free music Artificial Intelligence and Machine Learning

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023