SoftBank is making a play to gain a larger position in India's eCommerce market. Through its massive $100 billion Vision Fund, the Japanese company has invested $2.5 billion in Flipkart, the largest eCommerce firm in India. Flipkart also recently received $1.4 billion from Tencent, Microsoft, and eBay.
Interestingly, while this investment gives SoftBank a large stake in Flipkart, it's already the majority shareholder in Flipkart's main competitor, Snapdeal. Clearly it wants to be attached to whomever ends up dominating the Indian market.
India is a land of vast opportunity. We want to support innovative companies that are clear winners in India because they are best positioned to leverage technology and help people lead better lives. As the pioneers in Indian e-commerce, Flipkart is doing that every day.- Masayoshi Son, CEO, SoftBank
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