PolicyBazaar is an Indian company that allows people to compare the financial services among different insurance companies. Thus, it allows its users to choose the aptest insurance service that they would like to avail of. And now it seems like, after Jio, Google may invest $150 million in PolicyBazaar.
PolicyBazaar
Backed by Softbank, PolicyBazaar is a rapidly growing online insurance platform in India that was founded in June 2008. It helped to provide a clear view of insurance schemes to the common people of India. PolicyBazaar has also stressed on the importance of insurances from time to time.
Softbank’s Vision Fund, US-based Tiger Global, and Chinese tech giant Tencent are some of the notable investors of PolicyBazaar.
Google’s investment
Google CEO Sundar Pichai had recently announced that the company was “looking forward to working with Indian businesses of all sizes”. Soon after, Google announced that it would invest around Rs. 33,737 crores in Reliance’s Jio platforms. This made Google the second largest investor in the Ambani company after Facebook. The two platforms have also sealed a deal to develop ‘an entry-level affordable smartphone’.
After Jio, Google may invest $150 million in PolicyBazaar. Yes, you heard that right! Google is all set to invest a huge sum in an Indian-owned company, once again.
Google and PolicyBazaar
According to reports, Google may soon acquire stakes in Policy Bazaar to fulfil its goal of investing $10 billion in Indian businesses. Google is reportedly keen on acquiring 10% of its stakes, which is an investment of around $150 million. However, the source also mentions that it all depends upon the last investment round. And somehow, if Google decides to go with it, Softbank will lose its 15% stake in the company.
But Google and Softbank have not responded to any of these queries as of yet. PolicyBazaar, also, is yet to come forward with any clarity regarding the same.
