\n<\/div>\n The allotment of shares was done in November last year, it added.<\/p>\n The latest funding, however, is believed to have come at a lower valuation.<\/p>\n According to sources, the move comes at a time when Softbank is working on selling Snapdeal, an e-commerce platform it invested heavily in India, to larger rival Flipkart.<\/p>\n The Bengaluru-based firm was aggressively looking at raising funds to compete with Uber, the world’s most valuable start-up. After selling its Chinese business to Didi last year, Uber has now set sights on India making it one of its top priorities.<\/p>\n Though Indian Internet companies have seen a boom in user base, their valuations have come down as investors are now focusing on path to profitability and building a sustainable business model. Flush with private equity and venture capitalist money, many start-ups continue to have high burn rate that has been a concern for investors.<\/p>\n Earlier this week, India’s largest e-commerce firm Flipkart raised $1.4 billion from Tencent, eBay and Microsoft in a round that saw its valuation fall from $15 billion to $11.6 billion now.<\/p>\n Source: http:\/\/www.firstpost.com\/business\/softbank-infuses-rs-1675-crore-in-ola-cabs-fresh-funds-to-help-bengaluru-co-take-on-rival-uber-3383644.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Japanese investor SoftBank has pumped in about Rs 1,675 crore in fresh funding in Indian transportation startup Ola to give it more muscle to take American rival Uber head-on. SoftBank subsidiary SIMI Pacific Pte picked 12,97,945 shares valued at Rs … Continued<\/a><\/p>\n","protected":false},"author":1,"featured_media":4505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,497,493],"tags":[360,316,343,524,418,294,309,299,422,328,293],"class_list":["post-4470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-corporate-services","category-cross-border-transactions-mas-joint-ventures","category-economy-business-updates-corporate-affairs","tag-bengaluru","tag-china","tag-e-commerce","tag-ebay","tag-flipkart","tag-investment","tag-japan","tag-private-equity","tag-snapdeal","tag-soft-bank","tag-valuation"],"_links":{"self":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/4470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/comments?post=4470"}],"version-history":[{"count":4,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/4470\/revisions"}],"predecessor-version":[{"id":4504,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/4470\/revisions\/4504"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media\/4505"}],"wp:attachment":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media?parent=4470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/categories?post=4470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/tags?post=4470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Reuters\"](\"http:\/\/www.firstpost.com\/wp-content\/uploads\/2017\/04\/olacabs.jpg\")
<\/a><\/p>\n