Meanwhile, Flipkart's onetime largest rival, Snapdeal, is in the midst of a reorganization that will leave it slimmed down following the recent collapse of acquisition talks with Flipkart. Tiger Global Management, one of the earliest backers of Flipkart, partially sold its stake to SoftBank.
They further stated: "It is recognition of India's unparalleled potential to become a leader in technology and e-commerce on a massive scale".
It also underscores global investors' growing confidence in the Indian e-commerce sector where dominant players Flipkart and Amazon are not burning cash on deep price discounts as much as a few months ago. This is the largest investment the SoftBank Group's IT venture has made in a private internet firm in India, according to the Business Standard. After this, Flipkart will have in excess of $4 billion of cash on balance sheet.
Another leading investor Ravi Gururaj was of the view that the recent funding has just made things hard for the other global players such as Rakuten, Walmart and Alibaba to make a roadway in the Indian e-commerce market. Softbank has a record of partnering with cutting-edge technology companies and Flipkart is hopeful of a long term fruitful partnership with the investor.
Flipkart has won the backing of Japanese billionaire Masayoshi Son in its duel against the world's biggest online retailer Amazon in the fast-expanding Indian e-commerce market. "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", said Son in a statement.
SoftBank was supposed to invest $1.52 billion in the proposed merged Snapdeal-Flipkart entity, but after the talks fell through, SoftBank chairman Masayoshi Son said that he respects the decision of the founders and chose to focus the fund's effort in Flipkart.
"The Vision Fund is proud to be part of this landmark transaction which is a strong endorsement of India and its thriving economy", added Rajeev Misra, CEO of the SoftBank Vision Fund.
SoftBank's Vision Fund was launched in October 2016.
Flipkart, which started by selling books on the Internet in 2007, was struggling to raise money until previous year, hobbled by a tough private funding environment and shrinking valuations. Out of the total $1.9 Bn fundraise in these 55 deals Flipkart's earlier round contributed the most ($1.4 Bn).
This round makes SoftBank one of the biggest investors in Flipkart.
He was arrested in an investigation for drunk driving in Los Angeles in 2009 while playing for the Los Angeles Clippers. He was the subject of a 2010 police investigation in 2010, although he was never arrested or charged .
Germany and France -where a few farms are directly affected by blockages- have sharply tancé Belgium and the netherlands . Numerous affected eggs will have already passed through the food chain before anyone was aware of the scandal.
This is likely why Kylie hopes to set up her own stores, so customers can test and get a feel for products in the flesh. Starting from only three shades of the Kylie Lip Kits, the website kyliecosmetics .com has received impressive sales.
Global market fell as geo-political tension between North Korea and USA continued to keep risk appetite under check. Nifty Bank was down 0.5 per cent as Yes Bank, ICICI Bank , Bank of Baroda and Axis Bank were under pressure.
There's no denying Matthews' production - 225 receptions for 2,673 yards and 19 touchdowns in three seasons - or work ethic. Darby is the fourth player from the Bills to join the Eagles' defense in the last two seasons.
But to the best of his knowledge, Ansari faced no controversy in his long public life which was worth emulating, Modi said. Finance Minister Arun Jaitley said that Hamid Ansari has contributed to the quality of debate with his wisdom.
The US supports neither nation's claims and insists that the sea should be a neutral space available for free navigation. Navy operation because they are based near Mischief Reef , which is also claimed by the Philippines, the official said.
The Perseids, which come around every year , are widely regarded as the one of the best meteor showers of the year. As of Friday afternoon, Storm Team 8 expected clearing skies Friday and Saturday night.