26 May 2017, India:
Tiger Global is all set to sell off its stakes in the popular ride-hailing startup Ola. And guess what, who’s interested in buying it? None other than SoftBank. SoftBank looks to increase the investment in India by acquiring the stakes from Tiger Global for about $700 million as per the report by Factor Daily.
A Tiger Global Spokesperson told Factor Daily,” Mr (Lee) Fixel appreciated your interest but respectfully declines to comment.” Fixel is Tiger Global’s fund manager and partner and is credited for his role in several Indian startups.
In response to speculations, the chief executive of a Tiger Global-backed company called the development as not surprising as per the report by Tech Portal. It further added, “SoftBank and Alibaba want to get a stronger hold of India’s internet businesses, and want a share in all the large companies — Ola is one of them.”
(Image- Reuters)
Also read- Paytm Raises $1.4B Funding From Softbank
