SoftBank's Lydia Jett joins Snapdeal board
NEW DELHI: SoftBank Group Corp's Lydia Bly Jett has joined the board of Jasper Infotech, which owns and operates online marketplace Snapdeal and digital payments platform FreeCharge, as an additional director.
Jett is the latest representative of the Tokyo-based investor on the Jasper Board, following the appointment of Kabir Misra, managing partner of SoftBank Capital, last month. SoftBank, which owns 33% of Jasper Infotech, is the largest stakeholder in the Gurgaon-headquartered company.
Jett's appointment was ratified by the Board on March 30, according to documents sourced from Tofler, a leading corporate research and monitoring platform.
Both, Misra and Jett's appointments follow the resignation of Jonathan Bullock, chief operating officer at SoftBank, from the Jasper Board in February earlier this year. Apart from Snapdeal, Bullock had also stepped down from the boards of ANI Technologies, which owns and operates cab-hailing platform Ola and real estate portal Housing.com.
SoftBank has two seats on the seven-member Jasper Infotech board, which also consists of early Snapdeal investors Kalaari Capital and Nexus Venture Partners, which have one seat each, co-founders Kunal Bahl and Rohit Bansal, and Bharti Enterprises vice-chairman Akhil Gupta, who is an independent director.
The announcement comes at a time when the Japanese media, internet and telecom investor is leading conversations with multiple parties, to potentially sell the company, or merge it with its rivals.
SoftBank, which has invested about $900 million in Jasper, till date, has been reported to be negotiations with Flipkart, India's largest ecommerce company, a deal that could see it pick up a 20% stake in the Bengaluru-headquartered company for about $1.5 billion, in the process buying out $1 billion worth of Tiger Global’s holding in Flipkart, according to people aware of the matter.
According to her profile on a professional networking site, Jett, a Stanford University Graduate School of Business and London School of Economics alum, joined SoftBank in September 2015, and currently sits on the boards of Tokopedia, Fetch Robotics, InMobi and Quixey.
Jett is the latest representative of the Tokyo-based investor on the Jasper Board, following the appointment of Kabir Misra, managing partner of SoftBank Capital, last month. SoftBank, which owns 33% of Jasper Infotech, is the largest stakeholder in the Gurgaon-headquartered company.
Jett's appointment was ratified by the Board on March 30, according to documents sourced from Tofler, a leading corporate research and monitoring platform.
Both, Misra and Jett's appointments follow the resignation of Jonathan Bullock, chief operating officer at SoftBank, from the Jasper Board in February earlier this year. Apart from Snapdeal, Bullock had also stepped down from the boards of ANI Technologies, which owns and operates cab-hailing platform Ola and real estate portal Housing.com.
SoftBank has two seats on the seven-member Jasper Infotech board, which also consists of early Snapdeal investors Kalaari Capital and Nexus Venture Partners, which have one seat each, co-founders Kunal Bahl and Rohit Bansal, and Bharti Enterprises vice-chairman Akhil Gupta, who is an independent director.
The announcement comes at a time when the Japanese media, internet and telecom investor is leading conversations with multiple parties, to potentially sell the company, or merge it with its rivals.
SoftBank, which has invested about $900 million in Jasper, till date, has been reported to be negotiations with Flipkart, India's largest ecommerce company, a deal that could see it pick up a 20% stake in the Bengaluru-headquartered company for about $1.5 billion, in the process buying out $1 billion worth of Tiger Global’s holding in Flipkart, according to people aware of the matter.
According to her profile on a professional networking site, Jett, a Stanford University Graduate School of Business and London School of Economics alum, joined SoftBank in September 2015, and currently sits on the boards of Tokopedia, Fetch Robotics, InMobi and Quixey.
