Page 7 - Softbank

SoftBank sells a part of its stake in IPO-bound FirstCry for Rs 435 crore

Three Indian family investment offices have reportedly picked up stakes in the SoftBank-backed e-commerce firm

Top headlines: MoS IT meets laptop makers, delays likely in IDBI stake sale

Business Standard brings you the top headlines at this hour

Apple, Samsung to invest in SoftBank's Arm at IPO in Sept: Report

Arm plans to sell the chipmakers stakes of "a few percent each", the report said

India's startups add gains of $400 mn to SoftBank's Vision Fund in Q1

In the quarter ending March 2023, these four listed startups in SoftBank's portfolio together added over $100 million to the Vision Fund

SoftBank likely to turn profitable after $48 bn in vision fund losses

The Japanese conglomerate is fighting to regain its footing after losing ¥6.9 trillion ($48 billion) at the Vision Fund investment unit in the last two fiscal years

Binny Bansal, Accel and Tiger Global exit Flipkart with bumper returns

Latest deal puts Flipkart's valuation at $35 bn and prepares it for IPO

E-scooter maker Ola Electric targeting $1.5 billion sales this year

In June, industry-wide Indian sales of e-scooters more than halved from May to a six-month low of 45,800 units, government data showed

SoftBank sells another 2% stake in Paytm; holding slips below 10%

Japanese investor has monetised $900 million to $1 billion on a total investment of $1.6 billion: Sources

Softbank sells another 2% stake in Paytm, total holding now below 10%

Earlier in May, Softbank had sold another 2.07 per cent of its stake in Paytm through a series of open market operations starting February

After 'crying for days', Son to shift to offence mode in AI investments

The billionaire is ending years of dormancy after his Vision Fund

SoftBank looking to book profits by selling shares in Zomato, Paytm: Report

The shares will be sold in small tranches in the open market and not through block deals

SoftBank-backed Unicommerce expands ops in Middle East, Southeast Asia

The e-commerce tech firm has reported a 200 per cent year-over-year revenue growth in its international business during FY 2023

Meesho revamps brand identity to enhance positioning as inclusive

Softbank-backed e-commerce player Meesho has revealed a new brand identity as it looks to enhance its positioning as an "inclusive" and "egalitarian" platform for mass adoption. The company said that its new logo features hues of 'Jamuni' and 'Aam', which encapsulate the vibrancy and grandeur of India's diversity. According to colour theory, Jamuni has an association with aspiration while Aam is seen as inviting and welcoming, it said. "We are thrilled to introduce our revamped brand identity, which symbolizes our transformation into a genuinely inclusive and egalitarian e-commerce platform. The new colour palette and sonic identity will add a powerful new dimension to our brand identity, a critical component of how people recognise Meesho today and in the future," Meesho Founder and CEO Vidit Aatrey said in a statement. With the revamped branding, the company aims to strengthen its positioning as a one-stop horizontal platform that meets the everyday needs of of Indian shoppers.

Ola Electric likely to cross $1 billion revenue-mark: CBO Ankush Aggarwal

The firm is leading in the electric two-wheeler segment and has sold over 35,000 units in May. Riding on its highest-ever monthly sales in May, Ola has captured a market share of over 30 per cent

Top headlines: SoftBank eyes Indian startups, Hindujas top UK rich list

Business Standard brings you top news at this hour

SoftBank eyes five Indian start-ups; may invest up to $100 mn in each

SoftBank also looking at secondary-sale opportunities in growth firms that have postponed their IPO plans

Ex-SoftBank Manoj Kohli joins WeWork India as independent board director

Flexible workspace provider WeWork India announced appointment of Manoj Kohli, former Country Head of Softbank India, Softbank Group International, as an independent Director to its Board

Son owes SoftBank $5.2 bn on side deals post losses at Vision Fund unit

His unrealized losses widened by about $130 million from three months before, with most of the deficit linked to the Latin America fund

SoftBank Group Corp vision fund loses money mgain despite tech rebound

While SoftBank has lost money off and on for years, the latest results are surprising because technology valuations around the world have largely rebounded this year

Japan tech investor SoftBank Group sinks into second year of losses

Japanese technology investor SoftBank Group reported Thursday a loss of 970 billion yen (USD 7 billion) for the fiscal year that just ended the second year in a row of red ink. Tokyo-based SoftBank Group Corp. racked up a 1.7-trillion-yen (USD 13-billion) loss the previous fiscal year. The latest results came from massive losses on its investments, called the SoftBank Vision Fund, amid a global plunge in technology shares. The gains from transactions in Chinese e-commerce giant Alibaba were not enough to offset the investment losses, the company said in a statement. Sales for the fiscal year, which ended in March, rose 6 per cent from the previous fiscal year to 6.57 trillion yen (USD 49 billion). SoftBank invests in a sprawling array of companies, including Uber, DoorDash, T-Mobile and Arm. But the value of its holdings declined during various economic uncertainties, including the US banking crisis and Russia's invasion of Ukraine, according to SoftBank. The company, which was