Deal marks one of the largest funding rounds for a Middle East technology company
SoftBank Vision Fund
Latest in SoftBank Vision Fund
banking industry
Banking tech startup is unicorn with $250 million from SoftBank
Investment by strategic partner Sodexo SA valued the start-up with Indian roots at about $300 million
Adam Neumann
Video: The core of the business is still strong, says WeWork advisor
WeWork advisor Peter Weinberg told CNBC that the company’s tumultuous 2019 doesn’t discount the fact that the company’s fundamental business is strong.
Adam Neumann
Video: The spectacular rise and fall of WeWork
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.
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.
Hospitality
India-based OYO reveals $1bn expansion plans for Saudi Arabia
OYO will also set up two OYO Skill Institutes to train Saudi graduates in hotel management
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
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
Abu Dhabi
London calling for UAE firms eyeing growth
The UAE is looking to build major start-up investment ties with Britain
Abu Dhabi
New accelerators to join Abu Dhabi tech hub to support start-ups
Abu Dhabi’s Hub71 has announced that two new partners, Techstars and Starburst, will join by the end of this year
Arabian Business StartUp
Silicon Valley start-up to build over 4,000 new homes in Saudi Arabia
Under the agreement, 4,101 housing units will be built by Katerra in Makkah, Madinah, Al Baha, Al Jawf and Al Qasim
Apple
SoftBank Vision invests $800m in UK fintech Greensill
The investment values Greensill, which provides alternative supply chain funding to companies, at $3.5bn
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