About two months ago, Lydia Jett, who represented SoftBank on the Snapdeal’s board as a director, stepped down. And now, he has joined the board of directors at another homegrown e-commerce firm — Flipkart.
Lydia Jett is currently working as a consumer Internet and ecommerce investor at SoftBank Vision Fund — an ambitious $100 billion venture capital firm. This comes after SoftBank invested around $2 billion $2.5 billion into Flipkart earlier this year.
She is an MBA graduate from Stanford University and has previously worked as an Investment Banking Analyst at J.P. Morgan and Principal Investment Area Associate at Goldman Sachs.
Lydia Jett stepped down from the Snapdeal board in October this year. The major reason behind that is the breakdown of merger talks between Flipkart and Snapdeal. The deal was in the working for about three months with back and forth negotiations, until the company’s founders refused to go forward with the deal.
After Lydia Jeff resigned from the Snapdeal’s board, Saurabh Jalan from Japan-based SoftBank joined the firm as an additional director in the firm. His appointment was made via a resolution passed in October this year.
SoftBank holds two board seats at Snapdeal. During the last week of September, Kabir Misra, managing partner at SoftBank Capital, was elevated to director from additional director at Jasper Infotech — the parent company of Snapdeal.
SoftBank has been a key investor of Indian startups in 2017, thanks to its $100 billion Vision Fund. The firm’s big ticket investments include the $2.5 billion in ecommerce giant Flipkart, $1.4 billion in fin-tech startup Paytm, a $1.1 billion round of cab aggregator Ola and a $250 million round in OYO Rooms.