Bharti SoftBank Holdings makes its first acquisition in the e-commerce space

Bharti SoftBank Holdings, a Bharti Group joint venture company, has acquired 49 per cent stake in Y2CF, a startup venture.

The deal is believed to be worth Rs 0.4 billion and marks Bharti SoftBank Holding?s debut in the e-commerce space.

Kavin Mittal, head, strategy and new product development, Bharti SoftBank Holdings will execute the deal.

Y2CF was founded in 2010 by Mohammad Imthiaz, former, value-added services head, Bharti Airtel. Recently, Y2CF developed a location-based platform called ?Hoppr? which was simultaneously launched by Bharti Airtel, Aircel, Idea Cellular, Reliance Communications, Tata DOCOMO and Vodafone India.