The Tokyo based SoftBank, a Japanese multinational conglomerate holding company, in a recent development has build stakes worth $1.2 bn in Amazon and also invested in tech firms like Netflix Inc, Tesla Inc, Microsoft Corp, Alphabet Inc, Adobe and Nvidia Corp among others.
SoftBank Group Corp has spent around $10 bn in building these stakes and buying stocks. This decision by the group reaffirms the fact that there is immense growth potential in these tech companies that include OTT platforms like Netflix and parent company of Amazon Prime Video.
The rapid rise of OTT platforms in the recent past and their bright future is not hidden from anyone and this becomes more so evident with SoftBank pitching in for investment and stake building in these global streaming giants directly or indirectly.
This might further assist the streaming services to become bigger and better and will probably also increase customer faith in them. This move by SoftBank can become a big boost for companies like Netflix whose stocks have been talk of the town recently.
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