Fallout of SoftBank’s big reality check on the Indian startup ecosystem

Late last year, several senior executives in India’s startup ecosystem were approached by Japanese conglomerate SoftBank Corp. The company had launched its gigantic $100 billion Vision Fund in 2017 and had identified India as one if its main markets. It was seeking to hire accomplished leaders in financial services, retail, consumer brands and transportation who could help Paytm, Oyo, Grofers and the fund’s portfolio firms in expanding their business and moving towards profitability.