Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Billbachao, the web-cum-mobile application-based service, is looking to raise up to $8 million (about Rs 50 crore) in its first funding round from venture capitalists or strategic investors as part of its expansion plans.
“We have a choice to go either for the usual venture capital or the strategic investor route. We are in discussions with venture capitalists and a couple of strategic investors. We expect to close this in a week or so,” Jonathan Bill, managing director and co-founder of Billbachao, told ET.
Bill, who worked for Vodafone India earlier, said that the company could raise $2-8 million depending on the funding route it takes. The strategic investor route could fetch bigger investment and result in much closer relationship, he added. Original post at ET Telecom