Softbank's India biz💸, FB's ad revenue📈, Uber➕Whatsapp
SoftBank biggest foreign investor in India, Facebook India's ad revenue soars, Users can book Uber by sending Whatsapp msg, Funding Deals & more.
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SoftBank biggest foreign investor in India says, Masayoshi Son💹
SoftBank founder and CEO Masayoshi Son said the Japanese firm is the biggest foreign investor in India and has already invested around $14 billion here over the last 10 years. Son, while speaking at the India Infinity Forum, said he had met Prime Minister Narendra Modi a few years ago and made a commitment to invest $5 billion in India.
“Just this year alone, we have invested $3 billion into India. We are the biggest foreign investors in India. We are providers of about 10% of the funding of all the unicorns—firms valued at $1 billion or more—in India,” Son said.
According to him the Indian companies, where SoftBank is an investor, have created one million jobs.
SoftBank is among the most bullish investors in Indian startups having backed large startups like Paytm, Ola, Grofers, Oyo and others. In 2021, the company re-invested in ecommerce major Flipkart besides birthing new unicorns like Zeta, Meesho, OfBusiness, among others.
Facebook India's FY21 gross ad revenue soars to Rs 9,326 crore📈
Facebook India Online Services has reported a net profit of Rs 128 crore for 2020-21 on revenues of Rs 1,481 crore, regulatory filings showed.
During the pandemic, Facebook's gross ad revenue from the Indian market grew to Rs 9,326 crore, recording year-on-year growth of 41%.
For Facebook India, these revenues consist primarily of ad revenues generated by displaying impression-based ads on Facebook, Instagram, Messenger, and third-party affiliated websites or mobile applications.
Last month, Google India reported net profits of Rs 808 crore for the year ended March 31, 2021, on revenues of Rs 6386 crore. Advertising accounts for approximately 27% of Google's total revenue.
Hot Shorts⚡
Fin-Tech platform PayGlocal has raised $4.9 million in a Series A funding round led by Sequoia Capital India with participation from BeeNext, Jitendra Gupta and Amrish Rau.
Data automation platform Immensitas Pvt Ltd has raised $2.3 million (Rs 17.25 crore) in a Pre-Series A1 round co-led by Growx Ventures, Artha Venture Fund and DSP Investment Managers Pvt Ltd.
Uber to allow users to book rides via WhatsApp in India🚕
Ride-hailing platform Uber will soon allow users in India to book a ride via WhatsApp, the company said, announcing a partnership with the Meta(Facebook) Platforms-owned messaging service.
A global first for the ride-hailing giant, users can book an Uber ride by sending a message to the Uber WhatsApp chatbot, instead of downloading the app.
This partnership will allow users to register on Uber, book a ride, and get a trip receipt, all within WhatsApp. This service is currently available for Uber riders in Lucknow as a part of a pilot, a press release said.
By joining Meta, Uber is dramatically increasing its pool of potential clients. WhatsApp has more than 500 million users in India—five times more than Uber had worldwide in 2020.
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