SoftBank Plans To Invest $1.5billion In Paytm
Written by: Akshaya Avadhani - April 19, 2017
SoftBank, a Japanese internet, and Telecom group have plans to invest in the commerce platform and digital payments application Paytm. This decision is in talks as the Paytm application has emerged the best company to buy Freecharge, which is powered by SoftBank. The Snapdeal owned Freecharge has SoftBank as the biggest investor. According to reports of March 28, Snapdeal and Flipkart, the biggest rivals are in talks for a merger.
After investing in Flipkart, the SoftBank has planned to invest an amount of $1.2 billion to $1.5 billion in the Paytm platform. The company is also expected to buy some shares from Paytm investors SAIF and One97 Communications. Getting investments from SoftBank would mean that Paytm can invest in the market and build the business without worrying about profits.
Paytm’s parent Company One97 Communications is also in talks with different investors to acquire $1 Billion funds which will make the applications vale $6 Billion. The Freecharge allegedly is being sold for a discount price of $200 million and by this SoftBank plans to gain a foothold in payments of Paytm. The talks between these two companies are being held separately from the merger talks.
Trending News View All
10 months ago
2 months ago
2 years ago