Uber Softbank Deal

TOKYO (Reuters) - SoftBank Group Corp <9984.T> plunged on Wednesday to a quarterly loss that was far larger than analysts' estimates, hit by the falling valuations of some of its biggest tech bets such as WeWork and Uber Technologies .

This also gives early Uber investors a chance to cash out

Uber has had an abysmal year, with its co-founder and former CEO resigning under pressure and the company admitting it concealed a hack that exposed personal data

Uber is valued at $69 billion, the highest of any venture backed company

Rajeev Misra of Softbank emphasised that by no means is the investment decided

SoftBank boss Masayoshi Son sees a big opportunity in ride-hailing as a whole, reports Tech In Asia

The move also clears the way for Uber, among the most valuable tech firms in the world, to sell stock to the public