In less than one year, WeWork went from having a $47 billion valuation and being the darling of the venture capital world to needing an $8 billion infusion to avoid running out of money.
Masayoshi Son
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banking and finance
Video: How the WeWork investor got in trouble – Softbank
The disappointing valuation of WeWork and the poor performance of Uber and Slack on the stock market are raising concerns that the world’s largest tech investor could be in trouble
bailout
Video: WeWork said to weigh bailout that hands control to SoftBank
WeWork is considering a bailout that will hand control of the co-working giant to SoftBank Group Corp., according to a person familiar with the matter, one of two main options to rescue the once high-flying startup.
Goldman Sachs Group
Goldman is cutting its loan exposure to SoftBank’s Vision Fund
SoftBank has suffered a string of bad news this week
Alibaba
SoftBank Group triples net profit in first quarter
SoftBank’s Vision Fund 2 is the long-mooted successor to its mammoth Saudi-backed Vision Fund, which has taken stakes in leading tech start-ups from Uber to WeWork
Crown Prince Mohammed bin Salman
Indonesian president Jokowi courts UAE, Saudi Arabia in pursuit of investment
Indonesian President Joko Widodo is targeting deals worth $10bn during this week’s state visit by Abu Dhabi’s Crown Prince Mohammed bin Zayed
Abu Dhabi
Saudi, Abu Dhabi and Oman said to be in talks with SoftBank over new $100bn fund
SoftBank’s first Vision Fund has stakes in many of the world’s leading technology companies, including Uber and WeWork
AI
SoftBank plans second AI venture fund of more than $55m
The fund is separate from SoftBank’s Vision Fund, the $100 billion giant that has made large bets on industries from ride-hailing and autonomous driving to co-working spaces
Japan
Oman said to mull multi-billion dollar SoftBank fund investment
Japanese conglomerate SoftBank reportedly negotiating with Oman for an investment of several billion dollars in its Vision Fund
Masayoshi Son
SoftBank to seek $15bn more for its huge tech fund
SoftBank’s Vision Fund – backed by Saudi Arabia and Abu Dhabi – has invested more than $70 billion in tech companies in two years
Aldebaran
SoftBank Group nine-month net profit soars more than 50%
Rise was largely driven by gains from its investment funds, led by SoftBank Vision Fund whose partners include Saudi Arabia
Alibaba
Saudi-backed SoftBank to invest $2bn in e-commerce site
Saudi Arabia has contributed $45 billion to the $100 billion Vision Fund.
Goldman Sachs
Saudi-backed SoftBank’s Vision Fund is said to seek $4bn line of credit
$4 billion credit aims to cover the gap between when the cash is requested and when the fund investor sends it
Masayoshi Son
SoftBank IPO is said to seek $18bn from retail investors
SoftBank Group is seeking to raise a record 2 trillion yen ($18 billion) from Japanese individuals in the initial public offering of its mobile phone unit, targeting investors who often get no interest on their savings, said people familiar with the matter.
Nomura Holdings, a joint global coordinator, will sell the biggest part of the shares […]
Concentrated Solar Power
SoftBank said to plan $1.2bn solar power plant in Saudi Arabia
Sources say the plant, to the north of Riyadh, would generate 1.8 gigawatts of power a year
Crown Prince Mohammed bin Salman
Saudi Arabia to double its SoftBank investment with extra $45bn
The Public Investment Fund is set to make new investment as it looks for ways to deploy a $170bn windfall
Akio Toyoda
Toyota, Softbank unveil tie-up, eye autonomous vehicle services
Monet would be created by April 2019 and would have an initial capital injection of 17.5 million, rising eventually to 10 billion yen, said the new firm’s CEO Junichi Miyakawa