Why one startup founder turned down a US$1.1 bil SoftBank deal

Why one startup founder turned down a US$1.1 bil SoftBank deal

  • 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.
  • Son struck a preliminary deal to put another US$1.1 billion into Ola to boost his stake to more than 40%, according to people familiar with the matter.
  • "We enjoy a cordial relationship with all our portfolio companies, including Ola," said a SoftBank spokeswoman.
  • Aggarwal avoids gatherings with Son and his portfolio companies when he visits India, according to people familiar with the matter.


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