'We want to work with everyone who is building online and offline payment-led businesses. It will be great to find out synergies together in SoftBank's portfolio in India.'
The deal will be the largest infusion by a single investor in a digital company. It will make Softbank one of the largest investors in Paytm.
According to the changes, investors will now need approval of founders and board to acquire additional shares from other stakeholders.
The 35-year-old is the poster-child of the sharing economy, Airbnb.
That's more than 75 times in returns from the sale of the 0.35% stake or 1,60,000 shares of One97 Communications that Vora owned.
Prioritising growth over unit economics is a high-risk path, said Jeremy Liew, partner at Lightspeed Venture Partners, in an email interview with ET, dwelling on a topic Indian entrepreneurs have become familiar with recently.
Vijay Shekhar Sharma-led Paytm is in advanced stages of discussions to raise up to $1.9 billion in fresh funding from Japan’s Soft-Bank that could value it between $8 billion and $9 billion.
Third India-dedicated fund to place it in big league with $1-billion assets under management
The venture capital firm is said to have made over Rs 257 crore on its seven-year-old investment, as the Canadian investment firm Clairvest picked up a majority stake in Ace2Three for $74 million (Rs 474 crore) last week.
"Advertising, initial driver incentives, strikes in major cities and customer discounts are some of the contributory aspects to the losses seen for Ola,” said an analyst.
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