New Money

Dance of the Unicorns

There is the matter of Flipkart’s massive $2.5 billion funding from Softbank. There is also the question of another SoftBank company, Snapdeal. What happens to its 2.0 strategy, plus its closeness to another Unicorn, Hike

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Binny Bansal’s email to Flipkart’s employees is perhaps a good place to start this story. On Thursday, SoftBank announced that it has invested close to $2.5 billion in the company. This investment is an extension of Flipkart’s funding round in April this year, when Tencent, ebay and Microsoft invested in the company. Needless to say, Bansal was enthused. To quote from his email:

“This is truly a watershed moment for the Flipkart Group and India. This is the largest ever private investment round in an Indian technology company. And coming from a…

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