MUMBAI: After investing $ 4.5 billion in Jio, US tech giant Google is preparing to invest in another Indian company. If sources are to be believed, Google may take a minority stake in PolicyBazaar, an online insurance platform backed by SoftBank. Google has targeted to invest $ 10 billion in India in the next 5 to 7 years. It is willing to take a 10 per cent stake in PolicyBazaar and can invest around $ 150 million for it. SoftBank holds a 15 per cent stake in PolicyBazaar and may reduce its share slightly.
A source said, “Google is preparing the deal as it wants to increase its presence in the digital market in India. For this, the valuation and stake will depend on the previous investment round. Google and SoftBank did not respond to this. A source close to Google denied that work on such a deal was going on. PolicyBazaar refused to comment on this.
