Free Press Journal
  • $16-bn Walmart-Flipkart deal: No tax deducted from 34 shareholders

    New Delhi : US retail giant Walmart paid Rs 7,439 crore tax on payments it made to buy out shares of 10 major shareholders of Flipkart but has not yet done so for another 34 who exited the Indian e-commerce company in the $16 billion deal, tax officials said.

  • SoftBank agrees to sell entire stake in Flipkart for $4 bn

    New Delhi : Japan’s SoftBank has decided to sell its over 20 per cent stake in e-commerce major Flipkart to US retailer Walmart for about $4 billion. “SoftBank confirms the sale of its entire stake in Flipkart to Walmart,” a SoftBank spokesperson said.

  • Uber “doubling down” on investment in Indian market

    New Delhi: Cab aggregator Uber today said it is “doubling down” on its investment in the Indian market, pumping in funds to expand its products, partnerships and technology headcount in the country.

  • Paytm Mall raises Rs 2,900 cr from SoftBank, Alibaba

    New Delhi: Paytm Mall has raised close to Rs 2,900 crore from SoftBank Investment Holdings and Singapore e-commerce in a deal that values the online shopping venture of Paytm at USD 2 billion.

  • Ola, Uber revive merger talks 

    Mumbai : Taxi-hailing services Ola and Uber have once again revived talks to merge their businesses here, in a deal being brokered by Japanese investment firm Softbank that is an investor in both the companies.

  • SoftBank sets up panel to probe smear campaign

    New Delhi : SoftBank, a prominent investor in many Indian startups including Flipkart and Ola, has set up a special committee to probe into a smear campaign against the group and its high-profile former executive, Nikesh Arora.

  • SoftBank seals deal for large Uber stake, trimming valuation

    Washington: Uber and SoftBank announced a deal allowing the Japanese tech titan to take a large stake in the US ridesharing giant, making a hefty cut in the valuation of the biggest venture-backed startup.

  • Alibaba could invest $300m in BigBasket

    Fund infusion gives online grocer more muscle to take on local rival Grofers, and helps the Chinese firm battle Amazon in India.

  • Paytm swears by India digital play, lines up Rs 20,000 crore

    New Delhi, Paytm, which has high-profile investors like SoftBank and Alibaba, has drawn up a massive investment plan of Rs 20,000 crore as the group expands its play into the digital payments, financial services and e-commerce space in the country. “In the last 2 years and the next three years, we would have invested Rs 18,000-20,000 crore. I don’t want to talk about profitability right now because we are still in an investment

  • Uber seals multibillion-dollar investment deal with Softbank

    New York : App-based cab aggregator Uber has closed a deal with Japanese multinational telecommunications corporate SoftBank, commissioning the sale of a significant portion of its stakes to the latter, in a bid to implement modifications in management and go public in two years.

  • Flagging eco pulls down M&A activity

    New Delhi : Corporate India’s M&A deal tally took a 63.4 per cent hit in the July-September quarter of this year, largely because of a “flagging economy” that has led to the decline, says a Mergermarket report. According to the global deal tracking firm, the third quarter of 2017 experienced a slowdown in Indian mergers and acquisitions, with the deal value declining by 63.4 per cent to $6.8 billion, compared to $18.5

  • SoftBank-Uber deal likely next week: Official

    New York: SoftBank’s multi-billion-dollar investment into ridesharing app Uber will be finalised “very likely in the next week” Uber board member Arianna Huffington has said.

  • Ola raises $1.1 bn, in talks for another $1 bn

    The funding will help Ola bolster its position against the US-based rival Uber. The two are locked in an intense battle for leadership in the Indian market and have pumped in millions of dollars in driver incentives and discounted rides.

  • OYO raises $250 mln of funds led by SoftBank

    New Delhi : Online hotel aggregator OYO Thursday said it has raised $250 million (over Rs 1,600 crore) in a fresh round of funding led by its existing investors and Hero Enterprise. The company plans to use the funds to expand its presence in India and South-East Asia, OYO said. “We have raised $250 million in a fresh round of funding led by existing investors SoftBank through SoftBank Vision Fund, Sequoia India,

  • Respect Snapdeal’s move, talking to Flipkart: SoftBank

    New Delhi : Softbank CEO Masayoshi Son on Monday said he respected the decision of Snapdeal founders to call off merger talks with Flipkart and the Japanese firm is now pursuing separate discussions with the largest Indian e- tailer. SoftBank, which announced its June quarter financials on Monday, has been reported to be in talks with Snapdeal’s rival and India’s largest e-commerce platform Flipkart for investing up to $2 billion.

  • Flipkart revises Snapdeal buyout offer to $900-950 mn

    New Delhi: Online retailing major Flipkart is believed to have sent a revised offer of USD 900-950 million to buy smaller rival, Snapdeal, according to sources. The Bengaluru-based firm has offered to pay the said amount for buying Snapdeal’s online marketplace and Unicommerce, two people privy to the development said. In 2015, Snapdeal had acquired Unicommerce, an e-commerce management software and fulfilment solution provider. The sources did not wish to be identified as the