BUSINESS

Softbank's Investments In Ola, Snapdeal Swing To $1.4 Billion In Losses Versus $1.1 Billion In Gain A Year Ago

The Japanese investor has its sights on a much bigger pie, though.

11/05/2017 9:46 AM IST | Updated 11/05/2017 9:47 AM IST
Toru Hanai / Reuters

Japanese investor Softbank has significantly written down the valuation of its investments in cab aggregator Ola and e-commerce site Snapdeal for fiscal ending March 31, recording $1.4 billion in losses, compared to a gain of $1.1 billion from the same period last year.

Softbank has invested in a number of Indian startups including Snapdeal, Ola and Oyo Rooms. The company counts Snapdeal and Ola as one of its largest investments.

The company also recorded $77.6 million in expenses on account of former Nikesh Arora stepping down as director last year. Arora had led many of the company's India investments.

Overall, SoftBank has invested roughly $2 billion in Indian startups, and is currently seeking a more active role by uppings its stakes even more in its investments. For instance, it's pushing for a merger between Snapdeal and rival e-commerce player Flipkart, and has reportedly expressed an interest to pump in $1 billion more in Flipkart to take on competition from Amazon and Alibaba.

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