SoftBank writes down investments in Ola, Snapdeal by $555 mn
Japan's SoftBank has written down the value of its investments in startups Ola and Snapdeal by $555 million (₹3,700 crore), the company said in its six-monthly report. The news comes in at a time when both Ola and Snapdeal are looking to raise fresh funds. While Ola is reportedly planning to raise $300-$500 million, Snapdeal raised $500 million last year.