SoftBank's $400-million investment creates a retail unicorn, almost

Babycare has been a money spinner for companies across the world

Japanese conglomerate SoftBank’s $400-million investment in exchange for equity in FirstCry has pushed up the valuation of omni channel baby products company to $800 million, bringing it quite close to the unicorn mark from just about $350 million earlier. As the unicorn tag (valuation of $1 billion or above) is a top aspiration of any niche internet company, the latest funding round has got the industry excited.  

There are two stories at play here: SoftBank and FirstCry. SoftBank has been in the market for a new retail bet. Sources close to Flipkart indicate that SoftBank’s exit from Flipkart, even though