Softbank Hopeful Of Flipkart’s Return
- ByStartupStory | June 9, 2021
Flipkart, the internationally renowned e -commerce site is in talks of raising a funding of $3 billion from it’s investors which also include Japan’s Softbank, and thus making Softbank hopeful of Flipkart’s return. The pandemic has caused e-commerce sites to boom because it is viable for people staying indoors to order in from e-commerces,and Flipkart is a leading name in that respect.
Softbank had sold its 20 percent share after Walmart had agreed upon buying a 77 % stake of the company, leading to the exit of Softbank. However, the present scenario makes Softbank hopeful of Fllipkart’s return, as they are probably investing $300 – $00 million in Flipkart. Flipkart will need this fund, for taking over it’s two competitors in a market as large as India – which are namely Reliance Jio and Amazon. Softbank hopeful of Flipkart’s return, is therefore also eyeing India as it’s possible location for investment.
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