SoftBank
WeWork bailout: SoftBank will own most of the company as Adam Neumann gets big payout
SoftBank (SFTBF) will pump $5 billion into The We Company and accelerate a $1.5 billion equity investment originally due to the company next year, according to a statement released by the two firms. SoftBank, which is already WeWork’s largest investor, is also offering to buy up to $3 billion worth of stock from existing investors …
WeWork’s board meets today to discuss pushing out Adam Neumann, and his alleged ‘self-dealing’ and marijuana use
Getty Images WeWork’s biggest backer, several other investors, and some board members are reportedly plotting to remove cofounder Adam Neumann as CEO. A meeting on this issue, originally planned for later this week, is now planned for Monday, according to The Information. The uprising comes after the shared-workspace provider postponed its IPO amid concerns about …
How Oyo, Reliance Industries are breaking ‘Circle of Competence’
Nobody understands the world completely. It’s far too complex for a single brain to comprehend. Even the best minds identify that tiny part or minuscule patch as a runway to take off and fulfil their dreams. Legendary investors Warren Buffet and Charlie Munger term this “tiny part” as “circle of competence,” an area that one …
Troubles keep mounting for the We Company as Softbank reportedly calls for shelving the IPO – TechCrunch
The troubles for We Company and its main business WeWork are mounting as the Financial Times is reporting that the company’s main backer, Softbank, is pushing for the company to put its troubled public offering on hold. Citing sources familiar with the company and its main investor, the Financial Times said that the cool reception We Company has …
SoftBank launches new $108bn Vision Fund to back technology companies
SoftBank has announced its second Vision Fund which it said will have a record $108bn (£86bn) to invest in start-ups around the world. The company said that Microsoft, Apple, Standard Chartered Bank and iPhone manufacturer Foxconn have all agreed to invest in the fund. Saudi Arabia’s Public Investment Fund, which pumped $45bn into its original …
Japan ‘underdeveloped’ in use of AI technology, says SoftBank’s Masayoshi Son
SoftBank Group Corp. Chairman and CEO Masayoshi Son said Thursday that Japan has become an “underdeveloped” country in the use of artificial intelligence in businesses, lagging behind China, India and Southeast Asian countries that have fast-growing technology companies. “Japan once was a leader in technology but has become an underdeveloped country in AI. It is …
SoftBank leads $205 million investment in Collective Health – Axios
Collective Health is raising $205 million in a new funding round led by a new investor, SoftBank’s Vision Fund. Why it matters: Employers are looking to make health benefits simpler and cheaper for their workers. That’s the thesis behind Collective Health’s technology, and the startup now has one of the largest investment firms in the …