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Japan's Softbank Kicks Off $10 Billion India Online Spree, Buys Stake In Snapdeal

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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A man holding an umbrella walks past the logo of Softbank Corp at its branch in TokyoBy Nivedita Bhattacharjee and Indulal PM MUMBAI (Reuters) - Japanese telecom and media group SoftBank Corp has set its sights on Indian e-commerce in its aggressive expansion drive, saying it will invest about $10 billion in the booming sector as it took a strategic stake in one of its rising stars. Masayoshi Son, chief executive of SoftBank, laid out a 10-year investment plan for India on Tuesday, starting with the purchase of a $627 million stake in fast-growing online marketplace Snapdeal. Son's global ambitions flared into public view last year when SoftBank bought No. 3 U.S. ...




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