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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)

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

Sao Pauko | By Reuters| Posted by: Harshit Sabarwal
PUBLISHED ON JAN 07, 2021 07:06 PM IST
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.
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)

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

Mumbai | By Press Trust of India | Posted by Deepali Sharma
PUBLISHED ON DEC 12, 2020 08:42 PM IST
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 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)

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

By Bloomberg | Posted by Kanishka Sarkar
PUBLISHED ON NOV 09, 2020 07:45 AM IST
SoftBank has engineered a comeback this year after missteps with startups like WeWork and concerns about fallout from the coronavirus pandemic.
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)

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

Bloomberg | By Bloomberg| Posted by Susmita Pakrasi
PUBLISHED ON SEP 04, 2020 02:02 PM IST
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.
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)

SoftBank exploring partnerships to bid for TikTok’s India business

Livemint, New Delhi | By Abhjit Ahaskar
UPDATED ON SEP 04, 2020 04:01 AM IST
Japanese conglomerate SoftBank has started talks for a possible acquisition of the banned India unit of TikTok, two people aware of the development said.
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.

SoftBank commits $1.1 billion to WeWork even as members drop

Bloomberg | By Bloomberg
PUBLISHED ON AUG 15, 2020 06:16 AM IST
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.
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)

SoftBank drops operating profit measure, points to Vision Fund gains

Tokyo | By Reuters| Posted by: Harshit Sabarwal
PUBLISHED ON AUG 11, 2020 01:25 PM IST
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.
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)

Amazon to offer auto insurance in India

New Delhi, India | By Reuters | Posted by Shivani Kumar
UPDATED ON JUL 23, 2020 02:58 PM IST
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.
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)

SoftBank to offload SBG Cleantech

Livemint, New Delhi | By Utpal Bhaskar
PUBLISHED ON JUL 07, 2020 07:23 AM IST
SBG Cleantech is a joint venture between SoftBank and Bharti Enterprises.
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)

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

By Bloomberg| Posted by: Harshit Sabarwal
PUBLISHED ON JUN 18, 2020 03:34 PM IST
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 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)

WeWork, SoftBank sued for investor fraud over failed IPO

By Bloomberg| Posted by: Harshit Sabarwal
PUBLISHED ON JUN 04, 2020 10:29 AM IST
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 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)

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

Tokyo | By Reuters| Posted by: Harshit Sabarwal
PUBLISHED ON MAY 21, 2020 02:36 PM IST
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.
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)

Jack Ma quits board of Japan’s SoftBank

Tokyo | By Associated Press| Posted by: Harshit Sabarwal
PUBLISHED ON MAY 18, 2020 01:33 PM IST
Tokyo-based SoftBank announced Ma’s resignation Monday, ahead of releasing financial results. It did not say why he was leaving.
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)

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

By Rohit Sethi
PUBLISHED ON MAR 19, 2019 06:45 PM IST
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
FIFA president Gianni Infantino.(AFP)
FIFA president Gianni Infantino.(AFP)

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

The New York Times | By The New York Times
UPDATED ON JAN 22, 2019 12:45 PM IST
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
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)

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

Bloomberg, Singapore/Tokyo | By Yoolim Lee and Pavel Alpeyev
UPDATED ON NOV 21, 2018 06:24 PM IST
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.
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)
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)

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

Bloomberg, Tokyo | By Pavel Alpeyev
PUBLISHED ON OCT 25, 2018 04:00 PM IST
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.
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)

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

New Delhi | By Press Trust of India
UPDATED ON SEP 25, 2018 02:37 PM IST
The company has already raised $800 million, and has further commitment of $200 million, OYO said in a statement.
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)

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

Reuters, Tokyo | By Reuters
UPDATED ON JUL 10, 2018 01:33 PM IST
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.
(Image: PolicyBazaar.com)
(Image: PolicyBazaar.com)

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

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON JUN 25, 2018 06:09 PM IST
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.
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)

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

Bloomberg | By Pavel Alpeyev and Yuki Furukawa
PUBLISHED ON JUN 21, 2018 10:47 AM IST
Rajeev Misra leads SoftBank’s $100 billion Vision Fund, a technology-focused private equity effort with big backers including Saudi Arabia and Apple Inc.
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)

SoftBank confirms selling ‘entire stake’ in Flipkart to Walmart

Press Trust of India, New Delhi | By Press Trust of India, New Delhi
UPDATED ON MAY 22, 2018 11:46 PM IST
Walmart had, on May 9, announced that it will pay about US $16 billion to buy about 77% stake in Flipkart
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)

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

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON MAY 13, 2018 01:12 PM IST
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.
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)

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

Reuters, Mumbai | By Reuters
UPDATED ON MAY 12, 2018 11:21 AM IST
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 .
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)

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

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON MAY 11, 2018 01:41 PM IST
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.
“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)

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

Bloomberg | By Saritha Rai, Matthew Boyle and Pavel Alpeyev
UPDATED ON MAY 09, 2018 06:25 PM IST
Masayoshi Son, chief executive officer of SoftBank Group Corp, spilled the beans to a roomful of investors and journalists.
The logo of India's largest online marketplace Flipkart is seen on a building in Bengaluru.(Reuters File Photo)
The logo of India's largest online marketplace Flipkart is seen on a building in Bengaluru.(Reuters File Photo)

Flipkart sale to Walmart confirmed as SoftBank strikes deal to sell stake for $4 billion

Hindustan Times | By HT Correspondent
UPDATED ON MAY 09, 2018 03:18 PM IST
Walmart will invest $2 billion in fresh capital into Flipkart, and buy the remaining stake from the company’s existing investors, thus valuing it around $18-$20 billion
The acquisition of Flipkart by Walmart will be an extension of its domestic battle with arch rival Amazon, whose expansion is the biggest threat to the retail icon.(Reuters File Photo)
The acquisition of Flipkart by Walmart will be an extension of its domestic battle with arch rival Amazon, whose expansion is the biggest threat to the retail icon.(Reuters File Photo)

Flipkart-Walmart deal talks in final stages

Livemint, Mumbai/Bengaluru | By Mihir Dalal and Shrutika Verma
UPDATED ON MAY 02, 2018 02:02 PM IST
Walmart will buy at least 55% of Flipkart in a deal that will value the company at $20-21 billion,sources said. Walmart will get a majority of its stake by purchasing shares from existing Flipkart investors at a discount to the $20-21 billion tag.
Walmart is in talks to take a minority stake in Flipkart that could go up to 50 or 60%, said the people.(Dhiraj Singh/Bloomberg)
Walmart is in talks to take a minority stake in Flipkart that could go up to 50 or 60%, said the people.(Dhiraj Singh/Bloomberg)

Walmart more likely than Amazon to close deal with Flipkart

Bloomberg | By Saritha Rai
UPDATED ON APR 12, 2018 11:46 AM IST
Walmart faces fewer regulatory hurdles because it has no online retail presence in the country now, while Amazon is the second-largest e-commerce player and Flipkart’s primary rival.
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