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Softbank’s net income rises 500% on the back of Oyo investment, Flipkart sale

Softbank's net income grew by 500% in the six months of FY 2018-19 ended September 30, and stands at ¥870 million, up from ¥143 million in the first six months of 2017. Operating income from Softbank Vision Fund was ¥632,434 million compared to ¥186,238 million in the first six months of 2017, which was due to a gain of ¥146,682 million from the sale of its stake in Flipkart, its investments in Oyo and computer graphics company Nvidia Corporation. Here's a profile of Softbank's investment in Indian companies: Oyo Softbank Group has now transferred Oyo to its Softbank Vision Fund for $ 0.2 billion after originally acquiring Oyo for $ 0.1 billion in 2015. Most recently, Softbank invested (with existing investors) $800 million via its Vision Fund in Oyo. Oyo had said that it would invest a significant part of the newly raised funds — approximately $600 million — into its China operations. Prior to this funding, Softbank has invested in Oyo twice before: $250 million in a Series D round through SoftBank Vision Fund $100 million in a funding round led by SoftBank Group PolicyBazaar Softbank pumped in $100 million into PolicyBazaar, the digital insurance platform, in June this year. The funding valued PolicyBazaar at $1 billion. Apart from Softbank Vision Fund, InfoEdge, Softbank Corp, Temasek, Tiger Gobal and others also invested in the platform. Ola Cabs Ola Cabs (ANI Technologies) raised $2 billion from a group of investors including Softbank in October 2017. Softbank has been an investor in Ola…

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