Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
2014-10-29

SoftBank Group invests $627 million in Snapdeal

Through this strategic investment and partnership with Snapdeal, the SoftBank Group aims to further strengthen its presence in India.

SoftBank Internet and Media, Inc. and Snapdeal announced definitive agreements under which the SoftBank Group (further described below) will become the largest investor in Snapdeal, through a total investment of $627 million.

 

Through this strategic investment and partnership with Snapdeal, the SoftBank Group aims to further strengthen its presence in India and leverage synergies with its network of Internet companies around the world.

 

Masayoshi Son, Chairman and CEO, SoftBank, said, “We believe India is at a turning point in its development and have confidence that India will grow strongly over the next decade. As part of this belief, we intend to deploy significant capital in India over the next few years to support development of the market.”

 

Nikesh Arora, Vice Chairman of SoftBankCorp. and CEO of SIMI said, “India has the third-largest Internet user base in the world, but a relatively small online market currently.  This situation means India has, with better, faster and cheaper Internet access, a big growth potential. With today’s announcement SoftBank is contributing to the development of the infrastructure for the digital future of India. We want to support the leaders and entrepreneurs of the digital future; Kunal and Rohit are two such great leaders.”

 

Kunal Bahl, Co-founder and CEO, Snapdeal, said, “Our entire team at Snapdeal is thrilled and honoured to have SoftBank as a strategic partner. With the support of Son-san and Nikesh, we are confident we will further strengthen our promise to consumers and create life changing experiences for 1 million small businesses in India.”

 

Nikesh Arora will be joining the board of Snapdeal as part of this strategic investment by the SoftBank Group.

 

Morrison &Foerster LLP acted as legal advisor to SoftBank, with Kochhar& Co. advising SoftBank on India law matters.

Related opportunities
  • Sports & Gaming
    No Escape is an exciting live game experience (in person,..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2016
    Investment size Rs. 2lac - 5lac
    Space required 300 - 1500 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Fine Dine Restaurants
    About:The "Just" in our Name "Just Falafel" has always stood..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • About The great khali Gym and fitness clubDalip Singh Rana..
    Locations looking for expansion Haryana
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 3500-8000sq ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Faridabad Haryana
  • About: Started in 2015, 145 is a venture of Risa Hospitality..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 0
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities