Top

Why one startup founder turned down a $1.1 billion SoftBank deal

Why one startup founder turned down a $1.1 billion SoftBank deal

  • SoftBank 'anxiously' monitoring Saudi Arabia situation, says executive Bangalore-based Ola denies there is a rift with the Japanese company.
  • The Japanese conglomerate, led by Masayoshi Son, was an early backer of Ola, but Aggarwal has grown concerned about its influence as SoftBank took a stake in his archrival, Uber Technologies Inc., and then encouraged the rivals to merge.
  • Aggarwal avoids gatherings with Son and his portfolio companies when he visits India, according to people familiar with the matter.
  • Saudi Arabia contributed nearly half of the capital for Son's $100 billion Vision Fund.


Share it
Top
To Top