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SoftBank exploring possibility of investing in Zomato

SoftBank exploring possibility of investing in Zomato

SoftBank exploring possibility of investing in Zomato
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By CNBC-TV18 May 17, 2018 11:44:01 AM IST (Published)

SoftBank had earlier explored the possibility of infusing up to $200-250 million in Zomato’s rival firm Swiggy.

Tokyo based SoftBank is looking towards the possibility of investing in restaurant search and discovery service Zomato, reported The Economic Times.

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As per the report, sources close to the development have claimed that the discussion is still in its initial stages. SoftBank had earlier explored the possibility of infusing up to $200-250 million in Zomato’s rival firm Swiggy.
This, the report stated is an indication towards the firm’s interest in expanding its Indian influence which includes investment in Flipkart and Paytm to online food delivery segment.
The present development, along with possible $250 million investment in Swiggy by a group led by DST Global and Nasper points to the growing prospects of the segment.
If SoftBank decides to back either Zomato or Swiggy, the balance of the competition could very well tip in favour of that firm, the report said.
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