It looks like SoftBank’s long-anticipated investment in Uber is almost done. According to a report from The Wall Street Journal, a SoftBank-led group has almost finalized a deal to own close to 15% of the company. The transaction could be completed as soon as noon today, Pacific time. The shares purchased from existing shareholders will value the company at approximately $48 billion,… Read More
Category: Softbank
Looking back at SoftBank’s big year
While VCs vie to fund massively scalable businesses, they tend to view their own industry as size-constrained. Common wisdom is that with a limited supply of successful startups, greatly inflating the amount of available capital to invest in them leads to asset bubbles. This year, SoftBank’s Vision fund has been putting that assumption to an unprecedented test. Read More
Crunch Report | U.S. Government Blames North Korea for WannaCry
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View More Crunch Report | U.S. Government Blames North Korea for WannaCryDog-walking app Wag may be raising a huge round of funding
It looks like Wag may get another huge injection of cash following a big financing round earlier this year, according to a report by Recode, and also based on what we are hearing. We had heard a bit ago that Wag was looking to raise around $100 million, which the Recode report also suggests. But it now looks like Softbank is in talks to invest around $300 million in the dog-walking app… Read More
SoftBank says that Benchmark and Menlo intend to sell Uber shares
SoftBank Group has confirmed that it has found likely sellers for the tender offer for Uber’s shares, which launched tonight. These are the shares from existing shareholders that will be sold at more than a 30% discount to Uber’s last private round. The Japanese investment firm provided us with the following statement. “SoftBank and Dragoneer have received indications… Read More
SoftBank says that Benchmark and Menlo intend to sell Uber shares
SoftBank Group has confirmed that it has found likely sellers for the tender offer for Uber’s shares, which launched tonight. These are the shares from existing shareholders that will be sold at more than a 30% discount to Uber’s last private round. The Japanese investment firm provided us with the following statement. “SoftBank and Dragoneer have received indications… Read More
SoftBank makes offer for Uber shares at 30% discount
A SoftBank Group-led team of investors has made an offer to buy Uber’s shares in a tender offer that would value the company at about a 30% discount to Uber’s last private valuation of nearly $70 billion, a source with knowledge of the proposed deal tells TechCrunch. We’re hearing that the proposed price per share is $32.95, which works out to under $50 billion. Bloomberg… Read More
Crunch Report | Apple could give us a bigger iPhone X, Lyft goes to Canada
Today’s Stories
Apple could give us a bigger iPhone X next year
Lyft heads to Toronto, Canada in December, the first city outside the United States
SoftBank might not do the deal with Uber after all
Credits
Written by: Sarah Buhr
Hosted by: Sarah Buhr
Filmed by: Joe Zolnoski
Edited by: John Murillo
Notes:
Tito’s continues his journey out in the Outback this week so… Read More
SoftBank could still walk away from Uber
Uber said Sunday that it agreed to move forward on a proposed investment from SoftBank Group. But SoftBank Investment Advisors sent a statement to reporters on Monday on behalf of CEO Rajeev Misra, emphasizing that it could still walk away. “After a long and arduous process of several months it looks like Uber and its shareholders have agreed to commence with a tender process and… Read More
Uber is raising the saddest $10 billion in funding ever
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Uber is still a shiny unicorn per Silicon Valley standards, but the ride-hailing giant is nowhere near as magical as it used to be.
The latest development in a series of unfortunate events: Uber signed off on a new funding round that could total up to $10 billion. That cash infusion, led by Japan’s SoftBank Group and U.S. investment group Dragoneer, would be classified as a war chest to nearly every other company in the world. But to Uber, it’s a sad development in a long wave of painful setbacks.
“We believe this agreement is a strong vote of confidence in Uber’s long-term potential. Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance” an Uber spokesperson wrote in an email to Mashable. Read more…
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Uber confirms SoftBank has agreed to invest
The paperwork’s done! The long-anticipated SoftBank Group investment into Uber has been agreed upon, a spokesperson confirms to TechCrunch. We’ve been provided the following statement. “We’ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment. We believe this agreement is a strong vote of confidence in Uber’s… Read More
SoftBank looks to finalize Uber investment today
After months of talks, SoftBank Group is close to finalizing its investment in Uber. Multiple sources tell TechCrunch that the deal is expected to be signed later in the day on Sunday. SoftBank plans to lead a $1 billion investment directly in th…
View More SoftBank looks to finalize Uber investment today