Softbank may invest around $700 mn in flipkart, three years after it exited
- Select a language for the TTS:
- UK English Female
- UK English Male
- US English Female
- US English Male
- Australian Female
- Australian Male
- Language selected: (auto detect) - EN
Play all audios:
SoftBank Group Corp is in discussions with Flipkart to invest around $600-700 million in the e-commerce firm, according to a report in the Economic Times (ET). This comes three years after
the Japanese group exited the company by selling its entire stake to Walmart Inc, the world’s largest online retailer. The proposed investment is part of a larger $2 billion funding round by
Softbank Vision Fund 2, which could involve sovereign wealth funds such as Abu Dhabi’s ADQ, Canada’s CPPIB, and the company’s existing investors such as GIC and Qatar Investment Authority.
With this funding, Flipkart is likely to be valued at nearly $25-30 billion, sources told ET.