SoftBank invests over USD 800 mln in India

Nieuws Breedband India 28 OCT 2014
SoftBank invests over USD 800 mln in India
SoftBank will invest USD 627 million in Indian e-commerce website Snapdeal and USD 210 million in Ola Cabs, an Uber-style taxi app active in India, the Financial Times reported. The deals follow a meeting between SoftBank founder Masayoshi Son and Indian Prime Minister Narendra Modi. Snapdeal said it will use the new funds to double its technology team and to improve supply chain management, opening new centres to help small merchants with delivery. It also said it will focus on several strategic investments in the areas of mobile technology, reflecting its increasing mobile user base.

Categories:

Internet,  Mobiel

Companies:

Softbank

Countries:

India

Tags:

Distribution - retail outlets, IT - applications, Corporate strategy, M&A buyouts & divestments

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