SoftBank $2.5 billion investment in Flipkart

Overview:

• SoftBank, the Japanese technology investment firm, has injected $2.5 billion in Flipkart, an Indian startup.
• This deal marks the largest private investment in India's consumer technology space. 
• The transaction also provides a partial exit to Tiger Global, a New York-based investment firm, which used to be the largest investor in Flipkart. After the completion, Tiger Global will own an approximately 18% stake in Flipkart while South African media company Naspers and the Chinese Internet conglomerate Tencent will together hold a 20% stake in the company. 
• SoftBank will at least achieve one board seat on Flipkart. 
• SoftBank's total investment in India is now over $6 billion. 
• Flipkart is India's largest e-commerce company headquartered in Bangalore, Karnataka. The company was found in October 2007 by Sachin Bansal and Binny Bansal.

Wai Yee Tsang - Journalist - Asia-Pacific