SoftBank to pause investment in China as tech crackdown withers shares August 10, 2021 SoftBank will take a “wait and see” approach and pause its investments in Chinese tech startups until Beijing’s current regulatory crackdown on the sector calms, chief executive Masayoshi Son said on Tuesday. Son hoped the situation will be resolved and new rules for the sector would be introduced within “a year or two”, but still [...]
SoftBank injects $100m into former partner’s new consumer tech fund August 5, 2021 SoftBank Vision Fund II plans to invest $100m in a new consumer tech fund launched by one of its former managing partners Jeff Housenbold, the latest in a string of tech investments in the past few weeks. SoftBank’s second Vision Fund’s $100m investment will form up to a fifth of the $500m to $600m that [...]
SoftBank-backed Policybazaar files for IPO amid Indian digital economy boom August 2, 2021 Online insurance marketplace Policybazaar is to embark on an initial public offering that could rally $809m if it secures the loftier end of its price range. The SoftBank-backed startup follows a string of other tech-based emerging companies preparing to ride India’s booming digital economy wave. Policybazaar will sell off new shares, according to a public notice published [...]
Softbank’s bet on Chinese app Didi falls $4bn into the red July 26, 2021 Softbank’s bumper bet on Chinese ride-hailing giant Didi has plunged $4bn (£2.9bn) into the red as authorities in Beijing crack down on the app following its New York stock market float. The Japanese conglomerate took a 2.1 per cent stake in Didi worth $11.8bn in 2019, but its shareholding is now worth just $7.8bn, the [...]
Morrisons shareholders to vote on Fortress-led takeover bid on 16 August July 22, 2021 Shareholders in Morrisons will vote on a £6.3bn takeover bid from a trio of private investment groups led by SoftBank-owned Fortress on 16 August. In a document outlining Fortress Investment’s offer, Morrisons today said a court meeting and a general meeting of shareholders would be held on the August date. Fortress’ offer for the British [...]
SoftBank injects $1.7bn into South Korea’s largest travel app ahead of IPO July 15, 2021 SoftBank’s Vision Fund II is injecting around $1.7bn in South Korea’s largest travel app ahead of its initial public offering and a worldwide travel boom. Seoul-based startup Yanolja, South Korea’s largest travel app said it plans to use the funds to expand geographically and to widen its digital technologies in the travel and hospitality industry. [...]
SoftBank-backed Flipkart rallies $37bn valuation, just south of its target July 12, 2021 Indian e-commerce giant Flipkart, which is controlled by Walmart, has been valued at $37.6bn today, just shy of its target. The valuation comes ahead of an initial public offering (IPO), which it hopes will take place early next year. Flipkart rallied $3.6bn in the pre-IPO fundraiser, which spurred its valuation and was co-led by SoftBank Vision [...]
Delivery boom: Ant Group-backed Zomato eyes IPO valuation of nearly $8bn July 8, 2021 Ant Group-backed food delivery company Zomato has a near $8bn valuation on the cards in its initial public offering (IPO), with shares priced at 0.96 cents to $1.02 per share. Zomato, one of India’s most biggest startups, has reaped the rewards of a pandemic-induced surge in online ordering. The lofty $7.98bn figure is at the [...]
SoftBank-backed Sinch to buy MessageMedia for $1.3bn June 9, 2021 Cloud communications firm Sinch is set to buy mobile messaging business MessageMedia for $1.3bn to bolster small and medium businesses (SMEs) post-pandemic. Sinch, of which Japan’s SoftBank has a $690m stake, will seal the deal with $1.1bn in cash around 1m new shares. “Addressing small and medium-sized businesses opens up a new avenue to growth [...]
Walmart backed Indian e-commerce site Flipkart looks to raise $3bn ahead of IPO June 7, 2021 Indian e-commerce giant Flipkart, which is controlled by Walmart, is looking to raise $3bn from SoftBank and other investors as the e-commerce market swells. Targeting a valuation of an eyewatering £40bn, Flipkart will also rally several sovereign wealth funds, Bloomberg first reported. According to one of the sources involved in the private discussions, who opted [...]