Softbank boss Masayoshi Son ‘embarrassed’ by track record October 7, 2019 Softbank chief executive Masayoshi Son has admitted that he is “embarrassed and flustered” by his track record at the Japanese conglomerate. Read more: Softbank’s second fund hit by failed Wework listing In an interview with local media, Son said he felt that his accomplishments at Softbank had not yet lived up to his goals. “When [...]
Softbank’s second Vision fund hit by failed Wework IPO October 4, 2019 Softbank founder and chief executive Masayoshi Son is struggling to raise money for a second technology investment fund following the failed public offering of office space provider Wework. Son is preparing to go-ahead with the Vision Fund 2, despite advice to delay, according to Reuters. However, the fund is likely to be smaller than the [...]
Softbank executives bristle at Vision Fund investment scheme September 24, 2019 Some executives at Japanese technology titan Softbank have reportedly expressed concerns about an incentive scheme whereby employees can take out large personal loans to invest in the group’s Vision Fund. The investment scheme is designed to align the interests of employees with the $97bn technology fund, but the Financial Times reported the scheme is described [...]
Why Softbank is struggling to attract investment for its second Vision Fund September 22, 2019 Softbank’s Vision Fund was created to disrupt the tech sector – and it succeeded. Launched in 2017, the $100bn (£80.2bn) investment vehicle is the world’s largest tech fund, and made Softbank chief Masayoshi Son the industry’s biggest investor. The unicorn ‘kingmaker’ The gargantuan Vision Fund (VF) quickly became known for making bold bets on promising [...]
Wework IPO: Firm cuts founder’s supervoting power to save float September 13, 2019 Wework is set to slash the supervoting power of its co-founder to assuage fears of investors as it tries to save the company’s initial public offering (IPO). The firm will also appoint a lead independent director by the end of the year as well as cut Neumann’s voting power from 20 votes per share to [...]
Softbank suffers £380m writedown in Oneweb stake August 18, 2019 Softbank is said to have written down its stake in Oneweb by £380m as the British satellite company contends with the sky-high costs of its planned launches. Oneweb has burned through billions of pounds as it looks to create a network of satellites providing high-speed broadband across the globe. Read more: Oneweb lands $1.25bn in [...]
Softbank launches new $108bn Vision Fund for AI investment July 26, 2019 Softbank has unveiled its second mammoth Vision Fund, which it said will have $108bn (£87bn) to invest in AI-focused tech firms. Read more: Softbank earns $11bn for selling some of its huge Alibaba stake Softbank said it has received backing from a string of companies including Apple, Foxconn, Microsoft and Standard Chartered, while the Japanese [...]
Gympass secures $300m in Softbank-led funding round June 12, 2019 Gympass has raised more than $300m (£236m) in a funding round led by Japanese investment giant Softbank. Read more: Softbank earns $11bn for selling some of its huge Alibaba stake The corporate fitness platform, which offers flexible gym memberships, said it has secured the funding from Softbank’s Vision Fund and existing investors. Softbank’s Latin America [...]
Softbank earns $11bn for selling some of its huge Alibaba stake June 4, 2019 Japan’s Softbank will book a pre-tax profit of $11.1bn (£8.75bn) for selling part of its stake in Chinese ecommerce giant Alibaba. The sale forms part of a three-year-old deal to sell assets in order to buy British chip designer ARM for $32bn in 2016. Read more: Uber IPO: Shares slide on second day of trading [...]
Softbank struggles to raise cash for its second $100bn Vision Fund June 3, 2019 Japanese technology giant Softbank has received a chilly reception from some of the world’s biggest investors as it seeks to raise cash for a second $100bn (£79bn) mega fund. The firm’s chief executive, Masayoshi Son, announced Softbank's Vision Fund II in May, saying that many existing investors had expressed interest in the new fund. Read more: Softbank gears [...]