SoftBank Is In Talks With Zomato Over A Possible Investment
The Japanese Internet Conglomerate, SoftBank Group Corp is reportedly in talks over a possible investment in food delivery and online restaurant company Zomato as told by sources familiar with the matter.
The possibility of Softbank's future investment in Zomato has been speculating in the market since six months back when the Japanese giant first held conversations exploring a possible funding of up to $200-250 million in Bengaluru-based Swiggy. "SoftBank which has already backed Flipkart now eyes to make a niche for itself in the food delivery market said one of the sources.
The development comes as SoftBank is reportedly yet to decide on selling its more than 20% stake in Flipkart to US retailer Walmart. The Report says that SoftBank is currently discussing business metrics across...