your password has been reset successfully, Please login again.

SoftBank to sell its entire stake in Flipkart to Walmart

SoftBank had invested $2.5 billion in Flipkart last year
BY BEx Bureau
BusinessEx
May 24, 2018

After the Walmart-Flipkart deal, SoftBank has finally decided to sell its entire stock of over 20% to Walmart for an estimated $4 Billion. The Japanese investor invested nearly $2.5 billion in Flipkart through its Vision Fund last year.

SoftBank took time to arrive at a final decision in order to avoid the tax liability involving the sale of its stake. The company also wanted to wait to sell its stake until Flipkarts valuations picked up further in the near future.

Meanwhile, SoftBank, which has made sizeable investments of about $400 million in Paytm Mall and over $1 billion in its parent company One97 Communications, is reportedly in talks to invest another big chunk of millions of dollars into Paytm Mall, which is the third largest e-commerce firm in India which also counts Chinese giant Alibaba as one of its investors.

With this development, the country will see three large e-commerce firms Walmart-Flipkart, Amazon and Alibaba-Paytm Mall take on each other to gain dominant share in the e-commerce market.

Please add your Comment
SIMILAR News
August 06, 2018
Nearby Technologies allows lakhs of retailers and merchants to offer bill payment service to their c ...More
By Shah Mohsin
August 06, 2018
The lender will deploy the funds to expand its presence across its already established markets as we ...More
By Shah Mohsin
August 03, 2018
Ziffy Technologies run ZiffyHomes is functional only in Delhi-NCR and is looking to venture to other ...More
By Shah Mohsin
August 03, 2018
The startup will use the funds to ramp up its bandwidth capabilities. ...More
By Shah Mohsin
August 02, 2018
The company sold 50,000 cases across rum and brandy in FY18 and is looking to sell over 2 lakh cases ...More
By Shah Mohsin
August 02, 2018
The 50-member startup, offers two flagship products a chatbot for sales and support, and a business ...More
By Shah Mohsin
August 01, 2018
Razorpay in a statement said, Razorpay's payment gateway will process more than five million transac ...More
By Shah Mohsin
August 01, 2018
The Rs 300 crore new pump in of the funds marks the maiden NCD transaction with mutual funds with Le ...More
By Shah Mohsin
July 31, 2018
The announcement comes a month after Five Star had received investment offers from two PE firms incl ...More
By Shah Mohsin
July 31, 2018
The software supports eight regional languages, works offline and has a light SDK (software develope ...More
By Shah Mohsin
July 31, 2018
The Mumbai-based firm said it will consume the raised capital fortify its existing product portfolio ...More
By Shah Mohsin
July 30, 2018
Prime Minister Narendra Modi, felicitated Infosys' upcoming facility, as part of the 'Rising UP, Pow ...More
By Shah Mohsin