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…
It’s official. Twitter said on Tuesday that it was acquiring Bengaluru-based mobile marketing and analytics company ZipDial.
TOI had reported on January 14 that a deal was imminent. The companies declined to share the deal value, but sources in the industry placed it between $30 million and $40 million (Rs 186 crore – Rs 248 crore). Sanjay Swamy, co-founder of ZipDial, told TOI that it was a “solid financial outcome for the founders, the team and the investors in ZipDial”.
Founder & CEO Valerie Wagoner, a former eBay executive who moved to India in 2008, described the acquisition as “not only an exceptional moment for ZipDial, but also for the rest of the entrepreneurial ecosystem in India and Asia”.
The point was echoed by Swamy who noted that a top class Silicon Valley company had acquired an Indian company for its technology, people, customers and business model, in contrast to some recent buyouts (such as Facebook’s acquisition of Little Eye Labs) that were directed at acquiring the talent and not the technology or business. “ZipDial will provide strategic value to Twitter, take it to new places,” he said. Original post at ET Telecom