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SoftBank-backed Snapdeal files for IPO

Snapdeal potentially faces stiff competition from Reliance Industries, which is rapidly expanding in the online market space.
Snapdeal plans to use proceeds from the IPO for organic growth initiatives, the filing showed.(Reuters)
Snapdeal plans to use proceeds from the IPO for organic growth initiatives, the filing showed.(Reuters)
Published on Dec 21, 2021 02:53 PM IST
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Reuters |

SoftBank says could invest another USD 5-10 bn in India in 2022 

  • Many of the Indian start-ups that SoftBank has invested in are enroute to their IPOs, including PolicyBazaar, Delhivery and Oyo.
SoftBank is investing in life sciences, SaaS companies, B2B companies, deep-tech, robotics, autonomous vehicles etc in China.(REUTERS)
SoftBank is investing in life sciences, SaaS companies, B2B companies, deep-tech, robotics, autonomous vehicles etc in China.(REUTERS)
Published on Nov 11, 2021 09:30 PM IST
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PTI | , New Delhi

SoftBank-backed Oyo files draft papers for $1.14 billion IPO

The hotel aggregator's move comes at a time when travel restrictions are being eased across the world.
Hotel aggregator Oyo 
Hotel aggregator Oyo 
Published on Oct 01, 2021 12:34 PM IST
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Reuters |

SoftBank-backed MadeiraMadeira raises $190 mln in new funding round

Existing investor Japan’s SoftBank Group Corp and Dynamo led this fifth funding round, which also included Flybridge, Velt Partners, Brasil Capital, Lakewood Capital and Monashees. The company will use the proceeds to expand the business as sales outpaced expectations last year after the coronavirus pandemic boosted online shopping, CEO and co-founder Daniel Scandian said in an interview with Reuters.
Scandian said MadeiraMadeira would launch new own-brand products in its stores to add to the 400 currently available, while also eyeing international expansion.(AP file photo. Representative image)
Scandian said MadeiraMadeira would launch new own-brand products in its stores to add to the 400 currently available, while also eyeing international expansion.(AP file photo. Representative image)
Published on Jan 07, 2021 07:06 PM IST
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Sao Pauko | ByReuters| Posted by: Harshit Sabarwal

Indian economy emerging stronger after Covid-19, says SoftBank India head Kohli

The Indian economy has clawed back faster than expected in the second quarter of 2020-21 with the contraction at 7.5 per cent.
SoftBank India Country head Manoj Kohli said that becoming a USD 5 trillion economy by 2025 is a very important goal and the next five years are tough.(Reuters file photo)
SoftBank India Country head Manoj Kohli said that becoming a USD 5 trillion economy by 2025 is a very important goal and the next five years are tough.(Reuters file photo)
Published on Dec 12, 2020 08:42 PM IST
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Mumbai | ByPress Trust of India | Posted by Deepali Sharma

375% return on one startup to help SoftBank get past WeWork woes

SoftBank has engineered a comeback this year after missteps with startups like WeWork and concerns about fallout from the coronavirus pandemic.
SoftBank invested $1.35 billion last November in a Beijing-based company called KE Holdings Inc.(Reuters File Photo)
SoftBank invested $1.35 billion last November in a Beijing-based company called KE Holdings Inc.(Reuters File Photo)
Published on Nov 09, 2020 07:45 AM IST
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ByBloomberg | Posted by Kanishka Sarkar

SoftBank is said to consider bid for TikTok in India: Report

TikTok is considering selling its operations in several countries after local governments shut out the app, citing fears that sensitive user data was passing into the hands of the Chinese state.
India, a long-time regional rival, has taken a particularly tough stance, banning 59 of China’s largest internet services in July, including TikTok.(REUTERS)
India, a long-time regional rival, has taken a particularly tough stance, banning 59 of China’s largest internet services in July, including TikTok.(REUTERS)
Published on Sep 04, 2020 02:02 PM IST
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Bloomberg | ByBloomberg| Posted by Susmita Pakrasi

SoftBank exploring partnerships to bid for TikTok’s India business

Japanese conglomerate SoftBank has started talks for a possible acquisition of the banned India unit of TikTok, two people aware of the development said.
SoftBank declined to comment on the development. An email sent to ByteDance India, the parent of TikTok, remained unanswered till press time.(File photo for representation)
SoftBank declined to comment on the development. An email sent to ByteDance India, the parent of TikTok, remained unanswered till press time.(File photo for representation)
Updated on Sep 04, 2020 04:01 AM IST
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Livemint, New Delhi | ByAbhjit Ahaskar

SoftBank commits $1.1 billion to WeWork even as members drop

The company has been focused on whittling costs after its initial public offering was shelved last year. Its cash burn -- or free cash outflow -- was $671 million in the quarter, due to $116 million in non-recurring restructuring expenses which included severance linked to layoffs.
The new investment from SoftBank comes after its roughly $100 billion Vision Fund recorded losses after writing down WeWork’s valuation to $2.9 billion.
The new investment from SoftBank comes after its roughly $100 billion Vision Fund recorded losses after writing down WeWork’s valuation to $2.9 billion.
Published on Aug 15, 2020 06:16 AM IST
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Bloomberg | ByBloomberg

SoftBank drops operating profit measure, points to Vision Fund gains

Chief Executive Masayoshi Son has long pointed to the total value of assets as his preferred measure of success. The Japanese conglomerate plunged to a record operating loss in the year ended March following huge writedowns at the $100 billion fund.
SoftBank said the fund trimmed stakes in four listed portfolio companies in April-June and exited three unlisted companies. It did not identify the companies.(Bloomberg Photo)
SoftBank said the fund trimmed stakes in four listed portfolio companies in April-June and exited three unlisted companies. It did not identify the companies.(Bloomberg Photo)
Published on Aug 11, 2020 01:25 PM IST
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Tokyo | ByReuters| Posted by: Harshit Sabarwal

Amazon to offer auto insurance in India

Amazon Pay, the India unit’s payments arm, has partnered with private firm Acko General Insurance to offer car and motor-bike insurance, the company said in its blog.
The insurance is currently available on Amazon’s app and mobile website.(Reuters)
The insurance is currently available on Amazon’s app and mobile website.(Reuters)
Updated on Jul 23, 2020 02:58 PM IST
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New Delhi, India | ByReuters | Posted by Shivani Kumar

SoftBank to offload SBG Cleantech

SBG Cleantech is a joint venture between SoftBank and Bharti Enterprises.
Softbank’s plan to sell its entire stake comes after a previous attempt where it hired Mizuho Bank to find a ‘significant’ minority investor.(Reuters file photo)
Softbank’s plan to sell its entire stake comes after a previous attempt where it hired Mizuho Bank to find a ‘significant’ minority investor.(Reuters file photo)
Published on Jul 07, 2020 07:23 AM IST
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Livemint, New Delhi | ByUtpal Bhaskar

SoftBank leads $19.5 million investment round in UK’s Splyt

With the latest round, Splyt has raised a total of $35 million, including an earlier investment by Southeast Asia’s ride-hailing giant Grab. SoftBank Corp. declined to disclose the exact amount of its contribution, but said the deal gives it a seat on Splyt’s board.
SoftBank Group’s Son poured over $20 billion into Uber, Didi, Grab and India’s Ola. But ride-hailing is only one segment in the portfolio of almost 90 companies his Vision Fund amassed over the past few years(Bloomberg file photo)
SoftBank Group’s Son poured over $20 billion into Uber, Didi, Grab and India’s Ola. But ride-hailing is only one segment in the portfolio of almost 90 companies his Vision Fund amassed over the past few years(Bloomberg file photo)
Published on Jun 18, 2020 03:34 PM IST
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ByBloomberg| Posted by: Harshit Sabarwal

WeWork, SoftBank sued for investor fraud over failed IPO

The complaint was filed as a class action on behalf of investors who bought shares in the privately held company for 2 1/2 years before the IPO was cancelled in September and the value of WeWork plummeted.
SoftBank Group was an early investor in WeWork and two of its directors, also named in the suit, were on the WeWork board.(Reuters file photo)
SoftBank Group was an early investor in WeWork and two of its directors, also named in the suit, were on the WeWork board.(Reuters file photo)
Published on Jun 04, 2020 10:29 AM IST
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ByBloomberg| Posted by: Harshit Sabarwal

SoftBank to sell $3.1 billion worth of Japan telecom unit stake

The sale of 240 million shares for a yet to be determined price and set to close on May 26 will leave SoftBank Group with a 62.1% stake in Japan’s third-largest wireless carrier.
SoftBank needs cash for a record stock buyback aimed at supporting the price of its shares, which have been used by Chief Executive Masayoshi Son as collateral for loans, as its tech investments falter.(AP file photo)
SoftBank needs cash for a record stock buyback aimed at supporting the price of its shares, which have been used by Chief Executive Masayoshi Son as collateral for loans, as its tech investments falter.(AP file photo)
Published on May 21, 2020 02:36 PM IST
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Tokyo | ByReuters| Posted by: Harshit Sabarwal

Jack Ma quits board of Japan’s SoftBank

Tokyo-based SoftBank announced Ma’s resignation Monday, ahead of releasing financial results. It did not say why he was leaving.
Jack Ma, who joined the SoftBank board in 2007, has a close relationship with SoftBank founder and Chief Executive Masayoshi Son.(Bloomberg file photo)
Jack Ma, who joined the SoftBank board in 2007, has a close relationship with SoftBank founder and Chief Executive Masayoshi Son.(Bloomberg file photo)
Published on May 18, 2020 01:33 PM IST
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Tokyo | ByAssociated Press| Posted by: Harshit Sabarwal

Courses expected to become a major hit among international students in 2019

Gone are the days when Indian students either opted for engineering or medical after the completion of their high school. Today’s generation is not shying away from taking the road less travelled
Gone are the days when Indian students either opted for engineering or medical after the completion of their high school. Today’s generation is not shying away from taking the road less travelled.(Bloomberg/File)
Gone are the days when Indian students either opted for engineering or medical after the completion of their high school. Today’s generation is not shying away from taking the road less travelled.(Bloomberg/File)
Published on Mar 19, 2019 06:45 PM IST
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ByRohit Sethi

FIFA’s boss wants to remake the game. Europe wants no part of it

FIFA’s proposals to expand the Club World Cup and to create a new global Nations League similar to the recently created UEFA version largely have the backing of officials from South America, Africa and Asia
FIFA president Gianni Infantino.(AFP)
FIFA president Gianni Infantino.(AFP)
Updated on Jan 22, 2019 12:45 PM IST
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The New York Times | ByThe New York Times

A factory worker’s son builds $7 billion startup in Indonesia

The company matches customers with merchants instead of selling products from its own shelves and offers electronics, clothing and health-care items. It also operates websites for buying train tickets and topping up mobile-phone plans.
William Tanuwijaya, the 37-year-old son of a factory worker, co-founded PT Tokopedia and has capitalized on Indonesia’s rapid adoption of smartphones and increasing comfort in shopping online.(Bloomberg)
William Tanuwijaya, the 37-year-old son of a factory worker, co-founded PT Tokopedia and has capitalized on Indonesia’s rapid adoption of smartphones and increasing comfort in shopping online.(Bloomberg)
Updated on Nov 21, 2018 06:24 PM IST
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Bloomberg, Singapore/Tokyo | ByYoolim Lee and Pavel Alpeyev

Competition commission rejects price-fixing allegations against Uber and Ola

Ride-sharing firms Uber and Ola did not break price-fixing rules, the Competition Commission of India (CCI) said in a ruling issued late on Tuesday in response to a complaint about their technological pricing strategy. A case brought by a private individual against the holding companies of the two firms claimed that their algorithmic pricing model “takes away the liberty of individual drivers to compete with each other and thus, amounts to price fixing”.
In its judgement, the CCI ruled that there was no evidence the two cab aggregators had conspired to fix prices.(HT File Photo)
In its judgement, the CCI ruled that there was no evidence the two cab aggregators had conspired to fix prices.(HT File Photo)
Published on Nov 07, 2018 04:50 PM IST
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Reuters | ByReuters

It’s time to consider SoftBank’s future without Saudi money

SoftBank Group Corp. founder Masayoshi Son has had particularly close ties to Saudi Arabia ever since now-Crown Prince Mohammed bin Salman agreed to make Saudi’s Public Investment Fund the largest investor in the company’s $100 billion Vision Fund.
Saudi Crown Prince Mohammed bin Salman (pictured) has come under criticism over the killing of noted Kingdom critic and journalist Jamal Khashoggi.(NYT)
Saudi Crown Prince Mohammed bin Salman (pictured) has come under criticism over the killing of noted Kingdom critic and journalist Jamal Khashoggi.(NYT)
Published on Oct 25, 2018 04:00 PM IST
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Bloomberg, Tokyo | ByPavel Alpeyev

OYO to raise $1 billion through SoftBank fund, investors for expansion

The company has already raised $800 million, and has further commitment of $200 million, OYO said in a statement.
A worker cleans the entrance of a hotel, next to the signboard for OYO Rooms at Fort Kochi, Kerala.(Reuters File Photo)
A worker cleans the entrance of a hotel, next to the signboard for OYO Rooms at Fort Kochi, Kerala.(Reuters File Photo)
Updated on Sep 25, 2018 02:37 PM IST
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New Delhi | ByPress Trust of India

SoftBank tightens grip on Yahoo Japan via $2 billion deal with Altaba

Under the deal, SoftBank will buy 221 billion yen ($2 billion) of Yahoo Japan shares from Altaba, formerly internet giant Yahoo Inc. Yahoo Japan will then buy back 220 billion of stock from SoftBank.
SoftBank is investing about $2 billion to raise its stake in Yahoo Japan through an acquisition from US investment company Altaba Inc., announced on Tuesday, July 10, 2018 in a statement.(AP Photo)
SoftBank is investing about $2 billion to raise its stake in Yahoo Japan through an acquisition from US investment company Altaba Inc., announced on Tuesday, July 10, 2018 in a statement.(AP Photo)
Updated on Jul 10, 2018 01:33 PM IST
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Reuters, Tokyo | ByReuters

PolicyBazaar raises more than $200 million led by SoftBank Vision Fund

Founded in 2008, PolicyBazaar’s investors include Temasek, Tiger Global Management, True North, InfoEdge (Naukri.com), Premji Invest, besides investments from other PE funds and family offices.
(Image: PolicyBazaar.com)
(Image: PolicyBazaar.com)
Updated on Jun 25, 2018 06:09 PM IST
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Press Trust of India, New Delhi | ByPress Trust of India

Rajeev Misra elevated as SoftBank vice-president in top management overhaul

Rajeev Misra leads SoftBank’s $100 billion Vision Fund, a technology-focused private equity effort with big backers including Saudi Arabia and Apple Inc.
Rajeev Misra’s ties to SoftBank date back to 2014. He was hired as head of strategic finance from alternative-asset manager Fortress Investment Group LLC, which SoftBank has since acquired.(Photo: SoftBank)
Rajeev Misra’s ties to SoftBank date back to 2014. He was hired as head of strategic finance from alternative-asset manager Fortress Investment Group LLC, which SoftBank has since acquired.(Photo: SoftBank)
Published on Jun 21, 2018 10:47 AM IST
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Bloomberg | ByPavel Alpeyev and Yuki Furukawa

SoftBank confirms selling ‘entire stake’ in Flipkart to Walmart

Walmart had, on May 9, announced that it will pay about US $16 billion to buy about 77% stake in Flipkart
A bird flies over the Flipkart headquarters in Bangalore. SoftBank had invested US $2.5 billion in Flipkart last year.(AP Photo)
A bird flies over the Flipkart headquarters in Bangalore. SoftBank had invested US $2.5 billion in Flipkart last year.(AP Photo)
Updated on May 22, 2018 11:46 PM IST
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Press Trust of India, New Delhi | ByPress Trust of India, New Delhi

Tax dept to seek share purchase pact from Flipkart to ascertain tax liability

To ascertain the exact tax liability, the revenue department will write to Flipkart seeking the share purchase agreement that the company had entered into with Walmart.
Singapore-registered Flipkart Pvt Ltd holds majority stake in Flipkart India. As per the definitive agreement between the companies last week, Walmart will acquire about 77 per cent stake in the Singapore entity for $16 billion.(Reuters File Photo)
Singapore-registered Flipkart Pvt Ltd holds majority stake in Flipkart India. As per the definitive agreement between the companies last week, Walmart will acquire about 77 per cent stake in the Singapore entity for $16 billion.(Reuters File Photo)
Updated on May 13, 2018 01:12 PM IST
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Press Trust of India, New Delhi | ByPress Trust of India

Walmart says Flipkart could go public in as early as 4 years

Walmart announced earlier this week that it will pay $16 billion for a roughly 77 percent stake in Flipkart in what is the US retail giant’s largest-ever deal .
Minority shareholders after the deal include co-founder Binny Bansal, China’s Tencent Holdings, US hedge fund Tiger Global Management and Microsoft Corp.(AP)
Minority shareholders after the deal include co-founder Binny Bansal, China’s Tencent Holdings, US hedge fund Tiger Global Management and Microsoft Corp.(AP)
Updated on May 12, 2018 11:21 AM IST
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Reuters, Mumbai | ByReuters

2 days after announcing Flipkart-Walmart deal, SoftBank undecided on selling stake

SoftBank is yet to take a call on exiting Flipkart. The factors that hold key to the decision include the tax SoftBank has to pay on profits it would earn from such share sale, sources with direct knowledge of the matter said.
On May 9, hours before Walmart was scheduled to announce the Flipkart acquisition, SoftBank chief executive Masayoshi Son told an investor call on his company’s earnings that Walmart had agreed to buy a controlling stake in the Indian e-commerce company.(Noriko Hayashi/Bloomberg)
On May 9, hours before Walmart was scheduled to announce the Flipkart acquisition, SoftBank chief executive Masayoshi Son told an investor call on his company’s earnings that Walmart had agreed to buy a controlling stake in the Indian e-commerce company.(Noriko Hayashi/Bloomberg)
Updated on May 11, 2018 01:41 PM IST
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Press Trust of India, New Delhi | ByPress Trust of India

‘Oops’: SoftBank CEO announces Walmart’s Flipkart deal but he didn’t mean to

Masayoshi Son, chief executive officer of SoftBank Group Corp, spilled the beans to a roomful of investors and journalists.
“Oh, I see here that the Flipkart-Walmart deal isn’t fully confirmed at this point in time,” he said to the laughing audience. “Yabai desune,” he added, which translates in Japanese roughly to “Oops” or “That’s not good.”(Ramesh Pathania/Mint)
“Oh, I see here that the Flipkart-Walmart deal isn’t fully confirmed at this point in time,” he said to the laughing audience. “Yabai desune,” he added, which translates in Japanese roughly to “Oops” or “That’s not good.”(Ramesh Pathania/Mint)
Updated on May 09, 2018 06:25 PM IST
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Bloomberg | BySaritha Rai, Matthew Boyle and Pavel Alpeyev
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