“There's no greater gift than thinking that you had some impact on the world, for the better.”
– Gloria Steinem
Of hollow victories, vague defeats
In August 2017, SoftBank had invested $2.5 billion into Flipkart through a combination of primary and secondary purchases
Now, the company is said to have sold the entire stake to Walmart for $4 billion
But SoftBank probably made this decision more out of compulsion rather than of free choice
A $4-billion exit for a $2.5-billion investment would be the VC equivalent of scoring two runs off a ball in cricket, rather than a sixer. Why do it then?
What is cooler than a billion dollars?
Well, for one thing, $1.5 billion. Rs 10,000 crore if you like your numbers well-rounded.
In profit.
If you are an investor in India, a return of this size would take you right off the VC sweepstakes in terms of absolute dollars earned.
It is a lot cooler if you make this enormous sum in just one year.
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