After Jio, Google sets sights on stake in Policybazaar, might spend $150 mn for 10%

Google is looking to acquire a minority stake in SoftBank-backed online insurance platform Policybazaar as part of its goal to invest $10 bn in India over the next five to seven years, according to people close to the development. Google is keen on acquiring about 10% of Policybazaar and could invest about $150 mn, they said. SoftBank, which holds a 15% stake in Policybazaar, may make a partial exit, they said.

"Google is looking at the deal as it wants to increase its presence in the Indian digital market," said one of them, adding that "the valuation and the stake will depend on the last investment rounds".

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