SoftBank plans second Vision fund, reports profit surge on Uber gain
5 years, 8 months ago

SoftBank plans second Vision fund, reports profit surge on Uber gain

Live Mint  

Hours ahead of Uber Technologies Inc.’s market debut, the ride-hailing company’s biggest shareholder, Masayoshi Son’s SoftBank Group Corp., is already reaping rewards, if only on paper. Son has been remaking SoftBank Group from primarily a telecommunications operator into a technology investment firm, and his $100 billion Vision Fund has already emerged as a major contributor to earnings. The Vision Fund and SoftBank’s own Delta Fund contributed 1.26 trillion yen to profit in the fiscal year ended March 31, or slightly more than half of the total. In addition to Uber, SoftBank also booked a 203.4 billion yen valuation gain from its stake in Guardant Health Inc., which went public in October, and a 154.2 billion yen gain in India’s Oyo. It also recorded a 222.6 billion yen loss due to the share price decline in Nvidia Corp. “The Vision Fund is now the key growth driver for SoftBank and all the attention is on the profits in that segment,” Tomoaki Kawasaki, an analyst at Iwai Cosmo Securities Co., said ahead of the earnings announcement.

Vision Fund Billion Son Yen Uber Gain Softbank Softbank Group Vision Fund Profit Surge  second  reports  fund  yen  ridehailing  uber  market  earnings  vision  billion  softbank  son  gain  profit  surge  plans

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'This is what I was born to do': Masayoshi Son's SoftBank to invest another $1.5 billion into OpenAI for AI development
1 month, 1 week ago

'This is what I was born to do': Masayoshi Son's SoftBank to invest another $1.5 billion into OpenAI for AI development

Hindustan Times  

SoftBank is planning to buy $1.5 billion worth of OpenAI stock as its CEO Masayoshi Son looks to position the Japanese group as an artificial intelligence leader. SoftBank CEO Masayoshi Son has also publicly expressed admiration for OpenAI co-founder and CEO Sam Altman and said he frequently talks to him Son is doing this with an ambitious AI plan of …

SostBank Vision Fund’s Rajeev Mishra steps down as co-chief of largest-ever VC fund
1 month, 4 weeks ago

SostBank Vision Fund’s Rajeev Mishra steps down as co-chief of largest-ever VC fund

Live Mint  

Rajeev Misra is formally stepping down as co-chief executive officer of SoftBank Group Corp.’s Vision Fund, bringing to a close a tumultuous tenure at the helm of what had been the largest-ever venture capital fund. Misra was instrumental in helping SoftBank founder Masayoshi Son set up the Vision Fund in 2017, helping him raise nearly $100 billion from Saudi Arabia, …

Japan’s SoftBank returns to profit after gains at Vision Fund and other investments
1 month, 4 weeks ago

Japan’s SoftBank returns to profit after gains at Vision Fund and other investments

Associated Press  

TOKYO — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments. Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen, compared with a 931 billion yen loss in the year-earlier period. SoftBank credited income from royalties and licensing related to its …

SoftBank posts $7.7 billion profit on India’s IPO market boom, rebound in tech valuations
1 month, 4 weeks ago

SoftBank posts $7.7 billion profit on India’s IPO market boom, rebound in tech valuations

Live Mint  

SoftBank Group Corp. swung to a quarterly profit on a series of successful Indian listings and a rebound in tech valuations that boosted the Vision Fund portfolio. The Vision Fund reported a gain of ¥373 billion, thanks to strong initial public offerings for Indian startups and valuation gains in Coupang Inc. and Didi Global Inc. A boom in India’s IPO …

Japan's SoftBank reduces its investment losses with gains in Alibaba and other holdings
5 months ago

Japan's SoftBank reduces its investment losses with gains in Alibaba and other holdings

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Tokyo-based SoftBank’s losses totaled 174 billion yen in the …

Japan’s SoftBank Group marks a return to profit as it cuts Vision Fund losses
11 months ago

Japan’s SoftBank Group marks a return to profit as it cuts Vision Fund losses

Associated Press  

TOKYO — Japanese technology conglomerate SoftBank Group returned to profitability in October-December after four straight quarters in the red, the company said Thursday. Tokyo-based SoftBank reported a 950 billion yen, profit for the October-December quarter, a reversal from a 783 billion yen loss in the same period a year earlier. Its 458.7 billion yen loss for April-December was still an …

SoftBank’s Vision Fund to Start Job Cuts as Soon as This Week
1 year, 6 months ago

SoftBank’s Vision Fund to Start Job Cuts as Soon as This Week

Live Mint  

SoftBank Group Corp.’s Vision Fund is preparing to start another round of layoffs as soon as this week, following an approximate 30% reduction last fiscal year, according to people familiar with the matter. SoftBank last year reduced the number of its Vision Fund by about 30% from about 500 people as the investor drastically cut back on the number of …

SoftBank loses nearly $6 billion in quarter as investments suffer
1 year, 11 months ago

SoftBank loses nearly $6 billion in quarter as investments suffer

Live Mint  

TOKYO : SoftBank Group Corp.’s technology investment vehicles posted a loss of nearly $6 billion in the latest quarter, leading the company to reiterate its conservative approach. After posting a record loss equivalent to more than $20 billion in the April-to-June quarter, it reported an equally large profit in the quarter ending in September thanks to profits from unwinding its …

SoftBank vision fund loses $7.2 billion on tech writedowns
2 years, 1 month ago

SoftBank vision fund loses $7.2 billion on tech writedowns

Live Mint  

SoftBank Group Corp.’s core Vision Fund arm posted a $7.2 billion quarterly loss as plunging startup valuations continue to hammer the company’s financial performance and forces it slow investments. Of those, China’s SenseTime Group Inc. accounted for 364 billion yen, while US food delivery firm Doordash Inc. accounted for 225 billion yen and Indonesian ride-hailing and e-commerce firm GoTo Group …

SoftBank faces tech stock weakness at Q2 earnings
2 years, 2 months ago

SoftBank faces tech stock weakness at Q2 earnings

The Hindu  

SoftBank Group Corp. is expected to face further weakness in tech stocks when it reports second-quarter earnings on Friday, after two brutal quarters that have shaken Masayoshi Son's tech conglomerate. SoftBank's portfolio also remains exposed to China, with companies including ride-hailer Didi falling further during the second quarter. Although SoftBank briefings are centred on Son's presentations, which employ imagery such …

SoftBank plans $35 mln bet on India's GoMechanic, sources
2 years, 4 months ago

SoftBank plans $35 mln bet on India's GoMechanic, sources

The Hindu  

SoftBank has for years been a prominent backer of Indian startups, investing close to $4 billion last year alone, according to data from Venture Intelligence. Last month, its boss Masayoshi Son said SoftBank would invest much less this year than in 2021, following a record $26.2 billion quarterly loss at its Vision Fund on falling tech valuations. Vision Fund's early-stage …

SoftBank Emerges as a Big Loser of the Tech Downturn. Again
2 years, 5 months ago

SoftBank Emerges as a Big Loser of the Tech Downturn. Again

Live Mint  

Early last year, Masayoshi Son addressed his staff on a video call. Son and his team plowed $38 billion from SoftBank’s latest giant fund into 183 companies last year, according to SoftBank’s filings. “When he believes something is the future he will literally take everything he has and bet it on that," said Gary Rieschel, who helped lead Mr. Son’s …

‘SoftBank could invest over $4 billion in India’
3 years, 7 months ago

‘SoftBank could invest over $4 billion in India’

Hindustan Times  

Masayoshi Son-led SoftBank Group Corp. could put more than $4 billion to work in India in 2021 across myriad technology bets, including software as a service, B2B marketplaces, e-commerce, health-tech and ed-tech. The investments will come from the Japanese company’s Vision Fund 2, which has an investment outlay of up to $30 billion for the current calendar year. We anticipate …

Interview: Softbank Vision Fund CEO Rajeev Misra on what’s in store for India
3 years, 7 months ago

Interview: Softbank Vision Fund CEO Rajeev Misra on what’s in store for India

Live Mint  

NEW DELHI : Masayoshi Son -led SoftBank Group Corp. could put more than $4 billion to work in India in 2021 across myriad technology bets, including software as a service, B2B marketplaces, e-commerce, health-tech and ed-tech. We anticipate investing a similar size in the remainder of this year," SoftBank Vision Fund CEO Rajeev Misra said in an interview from London. …

Japan tech giant SoftBank’s profits rise on investments
4 years, 4 months ago

Japan tech giant SoftBank’s profits rise on investments

Associated Press  

TOKYO — Japanese technology giant SoftBank Group Corp.'s said Tuesday that its profit rose 12% in April-June from a year earlier as its investments added to its coffers, including sales of its shares in U.S. carrier T-Mobile. Tokyo-based SoftBank reported Tuesday a fiscal first quarter profit of 1.2 trillion yen, up from 1.1 trillion yen in the previous fiscal year. …

SoftBank doubled pay for Vision Fund boss as company posted record loss
4 years, 7 months ago

SoftBank doubled pay for Vision Fund boss as company posted record loss

CNN  

Hong Kong CNN Business — SoftBank’s Vision Fund chief Rajeev Misra got a huge pay bump even as the big tech fund dragged the Japanese company down to historic losses. Misra earned 1.61 billion yen in total compensation for the fiscal year that ended in March, more than double his pay a year earlier, SoftBank said in a regulatory filing …

SoftBank warns of even steeper losses as it takes a $6.6 billion hit on WeWork
4 years, 8 months ago

SoftBank warns of even steeper losses as it takes a $6.6 billion hit on WeWork

CNN  

Tokyo CNN Business — SoftBank is warning that it will fall deeper into the red, just two weeks after it shocked investors by forecasting a record annual loss. The firm said it expects to lose 700 billion yen on a portion of its investment in the troubled coworking provider WeWork that it holds outside of its $100 billion Vision Fund. …

SoftBank warns of huge losses as Vision Fund value collapses
4 years, 8 months ago

SoftBank warns of huge losses as Vision Fund value collapses

CNN  

London CNN Business — SoftBank warned Monday that it expected to post its first operating loss in 15 years because of a collapse in the value of its flagship tech investments. The Vision Fund is expected to report losses amounting to 1.8 trillion yen due to “the deteriorating market environment,” the company said in a statement. Big losses on other …

SoftBank’s Masayoshi Son considers new type of fund for startup investing
4 years, 10 months ago

SoftBank’s Masayoshi Son considers new type of fund for startup investing

Live Mint  

SoftBank Group Corp. founder Masayoshi Son said he is considering a new type of fund for startup investing, showing his determination to keep cutting deals after missteps with WeWork and several other companies. “So before we officially launch SoftBank Vision Fund 2, maybe we start from a smaller scale and start from a shorter period in terms of investment as …

Vision Fund losses drag down SoftBank profits by 99%
4 years, 10 months ago

Vision Fund losses drag down SoftBank profits by 99%

CNN  

Hong Kong CNN Business — SoftBank profits have been almost entirely wiped out, as the company continues to feel the pain from big losses in its massive tech fund. SoftBank founder and CEO Masayoshi Son’s closely watched $100 billion Vision Fund was the biggest driver of those losses. But WeWork’s failed IPO and Uber’s declining share price “have caused concern …

SoftBank Vision Fund bets sour and key staff are leaving, upping the scrutiny on Masayoshi Son
4 years, 10 months ago

SoftBank Vision Fund bets sour and key staff are leaving, upping the scrutiny on Masayoshi Son

CNN  

Hong Kong CNN Business — SoftBank founder and CEO Masayoshi Son wants to shape the future of technology for centuries to come, but that bold dream may be fading as his Vision Fund stumbles and investors press for much more focus on the present. The Financial Times reported last week that top US executive Michael Ronen was leaving the Vision …

Oyo is firing thousands of staff across China and India, cites non-performance
4 years, 11 months ago

Oyo is firing thousands of staff across China and India, cites non-performance

Live Mint  

Oyo Hotels is firing thousands of staff across China and India, people familiar with the matter said, adding to growing signs of trouble at one of the largest startups in SoftBank Group Corp.’s portfolio. Oyo’s downsizing is another setback for Masayoshi Son‘s SoftBank, whose portfolio has been buffeted by recent trouble at WeWork and slumping share prices at Slack Technologies …

Softbank’s Masayoshi Son, tech visionary or robber baron?
5 years ago

Softbank’s Masayoshi Son, tech visionary or robber baron?

Live Mint  

This is the year that brought a $100 billion venture capitalist to his knees. In January, SoftBank Group Corp.’s Masayoshi Son was riding high, writing billion-dollar checks to unicorns from office-sharing startup WeWork to autonomous-delivery vehicle designer Nuro. Over the past three years, Son has deployed his giant war chest aggressively, threatening to back a startup’s rival if founders refuse …

SoftBank’s troubles don’t end with Wag. Here are 5 more Vision Fund investments to watch closely
5 years, 1 month ago

SoftBank’s troubles don’t end with Wag. Here are 5 more Vision Fund investments to watch closely

CNN  

Hong Kong CNN Business — SoftBank’s decision to abandon its $300 million investment in dog-walking startup Wag has raised more questions about the strategy of its mega tech fund. The Vision Fund also has stakes in ride-hailing startups Didi, Grab and Ola, all of which “will likely face similar issues as Uber, with their economics likely remaining challenged until robo-taxis …

Committed to India in the long term, says SoftBank’s India head Sumer Juneja
5 years, 1 month ago

Committed to India in the long term, says SoftBank’s India head Sumer Juneja

Firstpost  

Masayoshi Son, CEO and Founder of SoftBank, during his India visit, said that he wants to bet on the future. We have an optimistic outlook, a fundamental belief in the country’s potential and remain committed to India in the long term,” Sumer Juneja, Partner and Head of India, SoftBank Investment Advisers, told Tech2. “SoftBank’s other investments in India might come …

Global setbacks put SoftBank’s investment plans in India at risk
5 years, 2 months ago

Global setbacks put SoftBank’s investment plans in India at risk

Live Mint  

Mumbai: SoftBank Group’s large-ticket investments in India face an uncertain future as the Japanese conglomerate struggles with setbacks in its marquee investments of WeWork and Uber, raising questions on the completion of its second Vision Fund of $100 billion. Four people directly aware of ongoing discussions between SoftBank and Indian startups said the investor has been mulling two deals for …

SoftBank’s Masayoshi Son defiant as WeWork triggers $6.5 billion loss
5 years, 2 months ago

SoftBank’s Masayoshi Son defiant as WeWork triggers $6.5 billion loss

Live Mint  

Masayoshi Son struck a defiant tone after his SoftBank Group Corp. reported an enormous loss from investments in money-losing startups WeWork and Uber Technologies Inc. “But let me explain the facts.” SoftBank recorded an operating loss of ¥704.4 billion after writedowns in WeWork and other investments, the Japanese company’s first such loss in 14 years. “It’s red all over.” The …

Vision Fund: Masa Son isn’t giving up on his big tech dreams yet
5 years, 2 months ago

Vision Fund: Masa Son isn’t giving up on his big tech dreams yet

CNN  

Hong Kong CNN Business — SoftBank just reported its first loss in more than a decade — all because of its big bets on splashy, money-losing tech startupssuch as WeWork and Uber. He said that he learned a “harsh lesson” from the collapse in WeWork’s valuation, and that Uber has had “issues.” Butthe billionaire businessmanalso made clear that he’s standing …

SoftBank takes $9 billion hit from Uber, WeWork and other tech investments
5 years, 2 months ago

SoftBank takes $9 billion hit from Uber, WeWork and other tech investments

CNN  

Hong Kong CNN Business — Some of Masayoshi Son’s biggest tech bets are leading to multibillion dollar losses. SoftBank on Wednesday reported an operating loss for the most recent quarter of 970.3 billion yen on its mega tech funds including the Vision Fund, which holds investments in Uber, WeWork, Slack and other major startups. The group reported losses of 704 …

SoftBank’s damage from Uber, WeWork could exceed $5 billion
5 years, 3 months ago

SoftBank’s damage from Uber, WeWork could exceed $5 billion

Live Mint  

Masayoshi Son’s startups have had a rough few months, from a botched initial public offering by WeWork to a sharp decline in shares of Uber Technologies Inc. Now analysts are beginning to calculate that the damage for Son’s SoftBank Group Corp. will likely reach into the billions of dollars. Mitsubishi UFJ Morgan Stanley Securities Co. cut its profit estimate for …

SoftBank Vision Fund to acquire additional stake in Delhivery
5 years, 3 months ago

SoftBank Vision Fund to acquire additional stake in Delhivery

Live Mint  

SoftBank Vision Fund, the world’s largest technology investor, is set to buy an additional stake from existing shareholders of logistics startup Delhivery Pvt. If and when the CCI approves this transaction, it would result in an increase in SoftBank’s shareholding, from the current holding of 22.44% to a proposed 25.72%,” Paper.vc said in a note. Following that transaction, SoftBank became …

SoftBank’s big tech ambitions in doubt after WeWork IPO debacle and Uber’s slump
5 years, 3 months ago

SoftBank’s big tech ambitions in doubt after WeWork IPO debacle and Uber’s slump

CNN  

Hong Kong CNN Business — SoftBank CEO Masayoshi Son has been shaking up the global tech industry and Silicon Valley, using his $100 billion Vision Fund to pour money into splashy startups like Uber, Slack and WeWork. Slack is also down 40% from a June high and down 25% from the reference price set when it went public.The SoftBank Vision …

SoftBank’s big tech bets are paying billions
5 years, 5 months ago

SoftBank’s big tech bets are paying billions

CNN  

Tokyo CNN Business — SoftBank’s massive tech fund is pulling in big profits. Operating income for the Vision Fund soared 66% to nearly 398 billion yen last quarter thanks to valuation gains on investments like Oyo, Slack and Doordash, SoftBan said in an earnings statement Wednesday. SoftBank founder Masayoshi Son launched the $100 billion Vision Fund in May 2017, with …

SoftBank to use proceeds from first Vision fund for the second
5 years, 5 months ago

SoftBank to use proceeds from first Vision fund for the second

Live Mint  

SoftBank Group Corp plans to use proceeds from its first Vision Fund to bankroll the $38 billion it has committed to the second, a person aware of the development said, in a show of unflinching confidence in its huge tech bets commanding sky-high valuations when sold. The Japanese investment firm, led by artificial intelligence advocate Masayoshi Son, on Friday said …

SoftBank’s Masayoshi Son forms $108-billion Vision Fund 2 with Apple, Microsoft
5 years, 5 months ago

SoftBank’s Masayoshi Son forms $108-billion Vision Fund 2 with Apple, Microsoft

Live Mint  

SoftBank Group Corp.’s founder Masayoshi Son launched a second Vision Fund, seeking to extend his reign as the world’s most influential technology investor. Apple Inc., Microsoft Corp., sovereign wealth fund of Kazakhstan and a number of Japanese finance companies are also expected to contribute capital, SoftBank said. Saudi Arabia’s Public Investment Fund and Mubadala Investment Co., key partners in the …

SoftBank fund says in no hurry to exit firms in India portfolio
5 years, 5 months ago

SoftBank fund says in no hurry to exit firms in India portfolio

Live Mint  

SoftBank Vision Fund, the late stage fund led by Japan’s Masayoshi Son and one of the biggest investors in Indian tech-enabled startups, said it is not in a hurry to list the companies it has invested in the country and would wait for the right opportunity. IPOs are an important one-time decision for the company, so we will take them …

SoftBank’s Son shines a spotlight on his Vision Fund proteges
5 years, 5 months ago

SoftBank’s Son shines a spotlight on his Vision Fund proteges

Live Mint  

Masayoshi Son likes to sketch out a grand vision for the future of artificial intelligence to justify his seemingly scattershot approach to investing. The founders of Southeast Asian ride-hailing giant Grab, indoor farming startup Plenty, Indian hotel chain OYO Rooms and payments service Paytm took the stage at an annual SoftBank conference to explain how AI helps them stay on …

SoftBank taps Goldman Sachs to begin new fund investor talks in July
5 years, 6 months ago

SoftBank taps Goldman Sachs to begin new fund investor talks in July

Live Mint  

SoftBank Group Corp. is working with Goldman Sachs Group Inc. to raise money for its second $100 billion technology investment fund and will begin formally soliciting investors in July, according to people familiar with the matter. While Son has made no secret of his intention to raise more capital after the first Vision Fund, there has been heated debate over …

SoftBank says it has made $3.8 billion off its Uber investment
5 years, 8 months ago

SoftBank says it has made $3.8 billion off its Uber investment

CNN  

Hong Kong CNN Business — SoftBank CEO Masa Son’s big bets on Uber and other tech companies are poised to make the Japanesecompany a lot of money. SoftBank reported Thursday that the value of its investment in the ride hailing company has increased 418 billion yen.It invested more than $7 billion in Uber in 2017 through its Vision Fund. Son …

Uber’s IPO will be early test for SoftBank’s massive venture fund
5 years, 8 months ago

Uber’s IPO will be early test for SoftBank’s massive venture fund

CNN  

New York CNN Business — In the second half of 2017, Uber was in a state of disarray. Uber’s IPO will be “the first real litmus test” for SoftBank’s investment strategy, said Kartik Hosanagar, a professor at the Wharton School of the University of Pennsylvania. “It’s their first investment to go public and also one of their larger investments.” But …

SoftBank’s Masa Son announces the formation of another mega tech fund
5 years, 8 months ago

SoftBank’s Masa Son announces the formation of another mega tech fund

CNN  

Hong Kong CNN Business — Why have one $100 billion mega tech fund, when you can have two? “This is the first time that we are officially announcing that we are preparing for the establishment of SoftBank Vision Fund 2,” Son said at the company’s earnings presentation. The size and structuring of the new fund hasn’t been decided yet, he …

SoftBank mulls IPO of $100 billion Vision Fund: Source
5 years, 8 months ago

SoftBank mulls IPO of $100 billion Vision Fund: Source

Live Mint  

Japan's SoftBank Group Corp is considering an initial public offering of its $100 billion Vision Fund, a source familiar with the matter said on Friday. Softbank has spoken to half a dozen banks over the last month about a potential listing of the Vision Fund but has yet to start a formal process, the source said, adding he was not …

Grab eyes more funding, after raising $4.5 billion in SE Asia’s largest round
5 years, 10 months ago

Grab eyes more funding, after raising $4.5 billion in SE Asia’s largest round

Live Mint  

Singapore: Grab Inc. is considering raising more funds from strategic investors, the president of Southeast Asia's top ride-hailing firm said, after raking in over $4.5 billion in the region's largest private financing round that included SoftBank Vision Fund. The Singapore-based startup continues to see strong interest from global investors after securing nearly $1.5 billion from SoftBank Vision Fund in a …

SoftBank’s bet on Uber is paying off. Nvidia is another story
5 years, 11 months ago

SoftBank’s bet on Uber is paying off. Nvidia is another story

CNN  

Hong Kong CNN Business — Some of SoftBank CEO Masa Son’s big bets on tech companies are paying off for the company’s bottom line. The company said Wednesday that a sharp drop in the value of Nvidia, whose shares plunged toward the end of 2018, cost it 117 billion yen in the last three months of the year — even …

SoftBank Group’s giant debt burden looks worse than it actually is, say analysts
5 years, 11 months ago

SoftBank Group’s giant debt burden looks worse than it actually is, say analysts

Live Mint  

As SoftBank Group Corp. continues its transformation into a giant investment fund, some analysts are increasingly watching a metric more familiar to lenders as they judge its creditworthiness. SoftBank’s loan-to-value ratio, its net interest-bearing debt over the value of its investment portfolio, is less than 20%, according to separate calculations by Daiwa Securities Group Inc. and SMBC Nikko Securities Inc. …

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