Japanese investment to internet company SoftBank is nearing to buy a more than 40 percent stake in Indian baby and kids products online portal operator BrainBees Solutions, for approximately $400 million.
BrainBees, which owns a baby and mother care products retailer FirstCry, will use the funding to develop both online and offline.
In addition, the funds will be used to boost the recently inaugurated parenting platform adding multi-media formats and to venture into private labels.
The transaction, expected to be completed by the end of next month, will value BrainBees at $600 to $700 million.