Japan’s SoftBank Unveils Trio of Internet Deals

Japan's SoftBank Unveils Trio of Internet
Getty Images/Koichi Kamoshida

HONG KONG – Softbank, the Japanese tech investment company which recently bought a stake in Legendary Pictures, has struck a trio of deals across Asia.

In the largest, its SoftBank Internet and Media, Inc. (“SIMI”) unit will become the largest investor in Indian ecommerce company Snapdeal, with a total investment of $627 million.

Snapdeal, founded in 2010, has become the fastest growing and largest online marketplace in India, with more than 25 million registered users and more than 50,000 business sellers.

Also in India, SIMI and other existing investors are to invest $210 million in ANA Technologies, operating as Ola Cabs, a ‘transportation aggregator’ that connects consumers and commercial vehicles. It has over 33,000 vehicles in 19 cities on its books.

In Indonesia SIMI and Sequoia Capital bought into another online marketplace, Tokopedia as part of a $100 million funding round.

Founded in 2009, Tokopedia is Indonesia’s leading online marketplace. The new capital will help it expand customer acquisition, hiring, and other initiatives.

SoftBank says the deals help it “build its presence towards becoming the No. 1 Internet company in Asia and accelerate business growth by leveraging synergies with its other group Internet companies.”

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