The founder and CEO of SoftBank Group Corporation, Masayoshi Son recently announced that he is stepping down from his board position at the Chinese e-commerce firm Alibaba. Announcing his decision, Son said that he’s “graduating” from his most successful investment by far. Son’s resignation comes just months after Alibaba Co-founder Jack Ma quit from SoftBank’s…
Japanese multinational conglomerate SoftBank Group Corp recently announced that Alibaba Co-Founder Jack Ma will resign from its board. Jack Ma’s resignation is the latest high-profile departure by an ally of SoftBank CEO Masayoshi Son. Jack Ma resigned from the board as he is pulling back from formal business roles to focus solely on philanthropy. Earlier…
Food-delivery unicorn Zomato is reportedly in talks to acquire SoftBank-backed grocery startup Grofers. According to reports by The Economic Times and Entrackr, the all-stock deal might value the e-grocer at $750mn (around ₹5,700Cr). Reportedly, Softbank is considering investing about $100-$200mn in the merged entity through its VC arm Vision Fund. According to sources mentioned in…
E-retailer BigBasket has secured $50 million from its existing investor Alibaba as part of a bridge round, two people in the know said, as per a media report. A bridge round is an intermediate funding meant to cover short-term expenses as the company looks for a larger investment cheque. The funding comes at a time…
As the novel coronavirus is spreading rapidly to most of the countries in the world, corporates and organizations around the globe are setting up their humanitarian efforts in helping the countries which need maximum assistance. Recently, The Jack Ma Foundation and Alibaba Foundation announced plans to donate much-needed medical supplies to 10 more countries in…
Food delivery start-up Zomato on Friday announced that it has raised $150mn in fresh funding from Alibaba subsidiary Ant Financial. With the recent investment, Zomato is now valued at $3bn. Zomato was founded by Deepinder Goyal and Pankaj Chaddah in 2008. So far Zomato has raised a total of $840mn in funding from multiple investors.…
XpressBees, an end-to-end supply chain solutions, has raised Rs 71.2 crore ($10 million) in fresh funding from existing investor Alibaba. The company was founded by Supam Maheshwari and Amitava Saha in 2015. Earlier, XpressBees had raised $157.6 million in six funding rounds. The company will utilize these funds for growth and expansion of its business.…
2019 was a very dramatic year for the business ecosystem. A global economic slowdown, reduction in profits and bankruptcy filing by many companies. But there was something else also going on behind the closed doors of corporate headquarters. Last year witnessed resignations of many top executives from big companies and start-ups. While this could be…