SoftBank

OLA Indian ride-hailing

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...

Platform News: SoftBank Group CEO

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...

Platform News: Japan's SoftBank

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. 

Platform News: Facebook and WhatsApp messaging service

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

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...

Platform News: Japan's SoftBank

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...

Latin Start-up

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...

Platform Industry News: Ride-sharing driver

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...

Platform News: Japan's SoftBank

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...

WeWork

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-...

Platform News: SoftBank Group CEO

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

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...

Platform News: Japan's SoftBank

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...

Platform Industry News: Ride-sharing driver

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...