Dai­ly­hunt in early talks to raise funds from SoftBank

Hindustan Times (Patiala) - - Business - COM­PILED FROM AGEN­CIES AND MINT RE­PORTERS

Re­gional lan­guage news ag­gre­ga­tor Dai­ly­hunt is in ini­tial talks with Ja­pan’s SoftBank to raise more than $150 mil­lion, ac­cord­ing to two peo­ple fa­mil­iar with the mat­ter. If this trans­ac­tion goes through, it will mark SoftBank’s first in­de­pen­dent in­vest­ment in the con­tent space, which has seen sev­eral star­tups com­ing up over the past few years. “SoftBank’s in­ter­est in In­dian con­tent star­tups emerges from the larger theme of tap­ping into the next in­ter­net user wave in the coun­try,” one of the two peo­ple cited above said, re­quest­ing anonymity. “SoftBank has held talks with an­other re­gional con­tent startup for a po­ten­tial in­vest­ment, but noth­ing has been fi­nal­ized yet.”Both SoftBank and Dai­ly­hunt de­clined to com­ment.

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