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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.
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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This article exists as part of the online archive for HuffPost India, which closed in 2020. Some features are no longer enabled. If you have questions or concerns about this article, please contact indiasupport@huffpost.com.