Just days after a CIA report concluded that Saudi Crown Prince Mohammed bin Salman ordered the murder of journalist Jamal Khashoggi, SoftBank’s Vision Fund — the gargantuan investment vehicle anchored by a $45 billion investment from Saudi Arabia’s PIF sovereign fund — is back in check-writing action. Coupang, Korea’s largest e-commerce firm, revealed today that it has […]
View More Korean e-commerce firm Coupang raises $2 billion from SoftBank’s Vision FundCategory: SoftBank Group
SoftBank’s Deepcore and accelerator Zeroth team up to hunt early stage AI opportunities
Two early stage AI programs are joining forces because, even in the world of artificial intelligence, two heads are better than one. Hong Kong-based accelerator Zeroth — which recently grabbed a majority investment from Animoca Brands — and Deepcore, a Japanese incubator and fund that is part of the SoftBank group, are pairing up to use […]
View More SoftBank’s Deepcore and accelerator Zeroth team up to hunt early stage AI opportunitiesGoogle is closing its Schaft robotics unit after failing to find a buyer
Sad news for anyone into giant robots: Google is closing down Schaft, its secretive unit that develops bipedal robots aimed at helping out in disaster efforts and generally looking badass. The news was first reported by Nikkei, but Google confirmed to TechCrunch that the business will be shuttered. It said it is helping staff find new roles, […]
View More Google is closing its Schaft robotics unit after failing to find a buyerChinese WeWork rival Ucommune raises $200M to go after international growth
China’s Ucommune, the country’s largest rival to WeWork, has been on a busy acquisition spree to build out its domestic business and now it is looking at overseas opportunities after it closed a $200 million Series D funding round. The new round was led by Hong Kong-based All-Stars Investment with participation from Chinese investment bank […]
View More Chinese WeWork rival Ucommune raises $200M to go after international growthChina’s ByteDance leapfrogs Uber to becomes world’s most valuable startup
Move aside Uber, China’s ByteDance is now the world’s highest-valued tech startup. That’s according to reports from Forbes and Bloomberg both of which claim that the company has completed a $3 billion investment that values the company at $75 billion. A source with knowledge of the deal confirmed the round to TechCrunch and suggested that […]
View More China’s ByteDance leapfrogs Uber to becomes world’s most valuable startupSoftBank CEO pulls out of speaking at Saudi investment conference
SoftBank Group has become the latest high profile technology business to drop out of an investment conference in Saudi Arabia following the snowballing global outcry over the killing of journalist, Jamal Khashoggi. The Wall Street Journal reports the last minute cancelation by CEO Masayoshi Son of a speaking engagement at the Future Investment Initiative conference which opens in […]
View More SoftBank CEO pulls out of speaking at Saudi investment conferenceSaudi Arabia’s sovereign fund will also invest $45B in SoftBank’s second Vision Fund
The sovereign fund of Saudi Arabia plans to invest $45 billion into the second SoftBank Vision Fund, two years after putting the same amount into the original $100 billion Vision Fund, Saudi Arabia Crown Price Mohammed bin Salman told Bloomberg in an interview on Friday. When the first Vision Fund was announced, it was by […]
View More Saudi Arabia’s sovereign fund will also invest $45B in SoftBank’s second Vision FundTencent backs fintech firm Voyager to set up battle with Alibaba in the Philippines
China’s internet battle is rapidly reproducing itself in Southeast Asia. One new hotspot is the Philippines, where Tencent just agreed to invest in Voyager, a fintech business started by telecom firm PLDT. The deal would bring Tencent into direct competition with arch-rival Alibaba, which entered the Philippines 18 months ago when its fintech affiliate Ant […]
View More Tencent backs fintech firm Voyager to set up battle with Alibaba in the PhilippinesBenchmark is staying focused, targeting $425M for ninth fund
The firm’s upcoming fund will not include longtime Benchmark general partners Mitch Lasky and Matt Cohler.
View More Benchmark is staying focused, targeting $425M for ninth fundIndia’s budget hotel startup OYO raises $1B for international growth
OYO, the India-based startup that operates a network of budget hotels, has pulled in $1 billion in new funding to grow its business in China and expand into other international markets. The majority of the funding — $800 million, to be exact — was led by SoftBank’s Vision Fund with participation from Lightspeed, Sequoia and Greenoaks Capital. OYO […]
View More India’s budget hotel startup OYO raises $1B for international growthIndian patient-doctor platform DocPrime gets $50M for city expansion
Less than three months after it raised $200 million led by SoftBank’s mighty Vision Fund, Indian digital insurance startup PolicyBazaar beefed up its new healthcare business through a $50 million capital injection. DocPrime, which lets visitors book consultations with doctors or schedule a range of medical tests, launched in August. Already, it claims to host […]
View More Indian patient-doctor platform DocPrime gets $50M for city expansionAlibaba confirms it raised $3B for its newly consolidated local services business
Alibaba has confirmed that it has raised $3 billion for its new-look local services business after it united its Koubei local services business with Ele.me, the on-demand delivery business it recently acquired. The company said it put the capital into the business alongside SoftBank, according to a note within its financial results that were released today. […]
View More Alibaba confirms it raised $3B for its newly consolidated local services business