Silicon Valley venture capital firm's India-focused fund, which initially raised $530 million in May 2014, has a corpus of over $850 million
The online ticketing company plans to bring down share of movies and increase investments in live events & content business
Seth's exit will give more power to Kalyan Krishnamurthy, who took over the HR function last week
Investors, including Japan’s Softbank, who pumped in close to $1.6 billion in Snapdeal, hold preference shares which grants them the right to be paid back ahead of employees and even founders, who hold common shares.
Software maker Microsoft, which signed a business part which signed a business partnership with BrowserStack in March, has also offered to invest around $40 million in the company at a valuation of $400-500 million over the past few months, said two of the sources cited above.
'We want to work with everyone who is building online and offline payment-led businesses. It will be great to find out synergies together in SoftBank's portfolio in India.'
The deal will be the largest infusion by a single investor in a digital company. It will make Softbank one of the largest investors in Paytm.
According to the changes, investors will now need approval of founders and board to acquire additional shares from other stakeholders.
The 35-year-old is the poster-child of the sharing economy, Airbnb.
That's more than 75 times in returns from the sale of the 0.35% stake or 1,60,000 shares of One97 Communications that Vora owned.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon