SoftBank invests $2.5 billion in Flipkart
Bangalore-based e-commerce giants, Flipkart, have announced that Softbank has invested in the company through its $ 100 billion technology-focused Vision Fund. The investment was a mix of primary and secondary capital.
According to reports, the investment is worth $ 2.5 billion which will make this investment one of the biggest in the Indian internet market.
This is a monumental deal for Flipkart and India. SoftBank's proven track record of partnering with transformative technology leaders has earned it the reputation of being a visionary investor. 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, and driving the next phase of technology adoption in India," Binny Bansal and Sachin Bansal, Co-Founders of Flipkart.
SoftBank recently invested $1.4 billion in Paytm.