SoftBank
SoftBank-backed Ola follows Uber with job cuts as revenue sinks
Indian ride-hailing company Ola will cut 1,400 jobs, or about 35% of its workforce, as it navigates a strict coronavirus lockdown that has halted 95% of its business, company CEO B...
SoftBank’s Vision Fund tumbles to $18 billion loss in ‘valley of coronavirus’
Japan’s SoftBank reported a stunning $18 billion loss at its giant Vision Fund, pushing Masayoshi Son’s conglomerate to a record loss and highlighting the deepening cri...
SoftBank proposes three new board members as Alibaba’s Jack Ma resigns
SoftBank Group Corp have stated that Alibaba co-founder Jack Ma will resign from its board, in the latest departure by a high-profile ally of CEO Masayoshi Son.Â
India watchdog reviewing antitrust allegations against WhatsApp
India’s antitrust watchdog is looking into allegations that Facebook’s WhatsApp is abusing its dominant position by offering payment services to its vast base of messag...
WeWork reports slower cash burn in first quarter: CFO email
The We Company, owner of WeWork, has said that for the first time quarterly revenue surpassed $1 billion and cash burn improved 60% sequentially, but the money-losing shared office...
SoftBank sees stable profit, offering Son respite from coronavirus
SoftBank Corp forecast operating profit for the current financial year at 920 billion yen (approximately $8.6 billion), largely unchanged from a year earlier, as it continues to ge...
Coronavirus pushes Latin American start-ups into survival mode
The CEO of Colombian food technology start-up Muy had expected to spend the past few weeks gearing up to raise a dollop of fresh funds from venture capital firms for an ambitious e...
Didi Chuxing’s CEO aims for 800 million active users by 2022
Didi Chuxing, China’s largest ride-hailing firm which counts SoftBank as an investor, aims to complete 100 million orders a day and have 800 million monthly active users glob...
Fading Vision Fund to tip SoftBank into first loss in 15 years
SoftBank expects its $100 billion Vision Fund to make a loss of 1.8 trillion yen due to the worsening performance of its various tech sector bets, which will tip the group as a who...
Trouble ahead: WeWork sues SoftBank after $3-billion tender offer falls through
WeWork’s owner, The We Company, has sued SoftBank Group, challenging its largest shareholder’s decision to terminate a $3 billion tender offer for shares in the office-...
SoftBank’s CEO tests state of emergency appetite via Twitter poll
Masayoshi Son, the founder and CEO of SoftBank Group began polling his Twitter followers on Friday over whether a state of emergency should be declared, as the number of people in ...
WeWork troubles deepen as SoftBank pulls $3 billion tender offer
SoftBank Group said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, drawing threats of legal action and plunging the fl...
SoftBank bolsters investment team with ex-Goldman hire
SoftBank Group has announced that it has appointed former Goldman Sachs banker Taiichi Hoshino as the head of a new investment planning department, as the group increases oversight...
China’s Didi Chuxing restarts evening Hitch service
Chinese ride hailing giant Didi Chuxing said on Friday it would restart its evening Hitch service in some cities, with improved safety features and more rigorous driver and passeng...