While OYO’s valuation stood at $1.4 bn, SoftBank’s investment in the hospitality giant has grown billions for the company. With Flipkart’s sale to Walmart at $1.3 bn only aided the growth of the investor. With this, the company gained a total profit of $2.7 bn. The company now successfully holds 69 investments worldwide.
SoftBank started its funding tale in India back in 2017. Then, the company failed miserably, with a loss of over $1.4 bn. The company had invested in Snapdeal and Ola. Yet, this huge failure did not stop them from investing in Indian Startups. The net worth of investment from the company in India comes out to be around $10 billion.
Speaking in figures, the numbers are huge for the Japanese funding beast. The investment in e-commerce giant Flipkart resulted in a profit of $1.3 bn for the company. Flipkart was acquired by the international retailing company: Walmart. The deal was inked at $16 billion. OYO made a touchdown at the end of last fiscal at $1.4 billion. Thus, the bet on both the startups-turned-companies evaluated at $2.7 billion for SoftBank.
Also Read: SoftBank’s $100Bn Vision fund headed for IPO
SoftBank’s operating profit skyrocketed
The tech-focussed investments in India have led the company to make billions. Due to these bets, the company reported an increase of 80% in its operating profit. The investing firm concluded the last fiscal year at $22 billion. Masayoshi Son-led investment firm has sown $10 billion in India. This motion was fuelled by $100-billion Vision Fund launched in 2016.
During his visit to India in 2018, Son made his commitment stronger in investing further in the Indian landscape.
Making local companies go global, and global go local.
– Masayoshi Son (CEO, SoftBank)