SoftBank News

In January this year, global investment firm Fidelity had marked down the value of its holding in social commerce platform Meesho, to $3.5 billion.

With this, SoftBank affiliate SVF India Holdings (Cayman) has now a 2.83 per cent stake in the fintech company.

SoftBank sold shares amounting to around Rs 630 crore this time. SoftBank had invested $400 million in FirstCry at a valuation of around $900 million. FirstCry is likely to list only after the 2024 general elections.

Arm’s IPO is reportedly set to expand SoftBank’s war chest to as much as $65 billion. According to the report, SoftBank is also looking at making substantial investments in direct rivals of the ChatGPT maker. SoftBank said in a statement that “We do not comment on rumours.” OpenAI declined to comment on the report.

According to sources, SoftBank has around 2.18 per cent remaining stake in Zomato which it is likely to sell via block deals.

A memo from its CEO, David Mou said the cuts would affect employees across the company, including at headquarters and among clinical care staff and support workers.

OYO valuation dips $6.5 billion following main investor Softbank markdown. Company's one share price falls to Rs 81 from Rs 94 by 13%. OYO has already filed preliminary papers with SEBI to raise Rs 8,430 crore via IPO.

Pierce said that Garg provided misleading statements to investors. Better.com has struck a deal to go public with Aurora Acquisition Corp. Pierce worked as an executive vice-president for sales and operations.

The company announced the buyback, long speculated by the market, after it revealed its quarterly earnings crashed to a loss amid a decline in the share prices of its portfolio companies and a regulatory crackdown in China.

The listing plan follows a stellar debut by food delivery firm Zomato Ltd in July. Nykaa have also filed for IPO. Ride-hailing firm Ola. Oyo, in which SoftBank owns a 46% stake and is one of its biggest bets, has endured months of layoffs.

This latest fundraise was heavily oversubscribed following strong interest from investors, and comes on the back of Swiggy’s rapid recovery from the impacts of Covid-19 and subsequent growth in 2020-21, said Swiggy.  

The offer was oversubscribed by 1.7 times. The company received commitments of close to $1 billion from leading institutional investors. The interest margin rate was also lowered by 25 basis points.

SoftBank will re-enter Flipkart's cap table three years. SoftBank has exited Flipkart by selling its stake in 2017. Currently, Walmart is the majority shareholder in the company.

The Vijay Shankar Sharma-led startup is planning to go public in November 2021. Paytm is backed by some of the largest investors in the world. Paytm is currently one of the largest digital payments players in India.

The four-day week will last until May 2021. Employees are allowed to take unlimited paid leaves till July. He also advised employees to share more time with their families.

NVIDIA acquired SoftBank-owned Arm last month. Son said Huang is the driving force in the age of AI. Son said it won't be long until a trillion Arm-based SoCs have been shipped.

Ma is close with SoftBank founder and CEO Masayoshi Son.

The investment will go toward creating a next-generation transportation network and transforming how critical services, like healthcare, are delivered, Grab said in a statement.

Uber`s autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corp, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering.

Walmart had on Wednesday announced that it will pay about USD 16 billion to buy 77 percent stake in Flipkart.