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Gojek reportedly buys 4.3% stake in Indonesian taxi company Blue Bird

Gojek has paid $30 million to take a minority stake in Blue Bird, one of the largest taxi operators in Indonesia, according to Bloomberg, which first reported that the deal was in progress last month. Gojek’s stake in Blue Bird is worth $30 million. The taxi operator’s holding company disclosed in a regulatory filing earlier this month that it had sold 108 million shares of Blue Bird at 3,800 rupiahs (about 28 cents) to an undisclosed buyer. The company already offered reservations for Blue B...
Tags: Fundings & Exits, Startups, TC, Transportation, Asia, Indonesia, Southeast Asia, Softbank, Tech, Bloomberg, On-demand, Ride Hailing, Gojek, Blue Bird


SoftBank spends $2.5 billion to get second Vision Fund off the ground - sources

SoftBank Group Corp has pumped $2.5 billion of its own cash into new investments since October, people familiar with the matter said, hoping to restore its money-making credentials as it courts investors for a successor to its Vision Fund.
Tags: Money, Softbank, businessNews, SoftBank Group Corp


Atomico raises new $820M fund to back ‘mission-driven’ European founders at Series A and beyond

Atomico, the European venture capital firm founded by Skype’s Niklas Zennström, has announced that it has closed its fifth fund — “Atomico V” — giving it another $820 million to invest in European startups. The London-headquartered VC firm’s previous fund closed at $765 million, so this is an increase over three years ago. However, the remit remains largely the same, as Atomico says it plans to double down on its strategy of backing “mission-driven” European founders at Series A, but with the...
Tags: TC, Europe, London, Softbank, Funding, America, Tech, Research, Venture Capital, Silicon Valley, Skype, Niklas Zennstrom, Atomico, Alison Smith, Peakon, Mattias Ljungman


Oyo says annual loss grew over six-fold on China expansion

SoftBank-backed Oyo Hotels and Homes said on Monday losses widened more than six-fold in the year to March 2019, as the India-based hotel chain spent heavily to expand into China.
Tags: Money, China, India, Softbank, businessNews, Oyo, Oyo Hotels and Homes


Oyo’s revenue surged in FY19, but its loss widened, too

On Monday, budget-lodging startup Oyo reported a loss of $335 million on $951 million revenue globally for the financial year ending March 31, 2019, and pledged to cut down on its spending as the India-headquartered firm grows cautious about its aggressive expansion. The six-year-old startup’s growing revenue, up from $211 million in financial year ending March 31, 2018 (FY18), is in line with the company’s ambitions to be in a clear path to profitability this year, said Abhishek Gupta, Global C...
Tags: Startups, Asia, Europe, Japan, China, India, Softbank, Tech, New York Times, Airbnb, Oyo Rooms, Axel Springer, Oyo, Aditya Ghosh, Ghosh, Softbank Bloomberg


Meet the 'super angel' investors, the power players of streaming, and the top M&A bankers of 2019

Hello! One of the things we try to do here at Business Insider is to introduce our readers to the individuals shaping their industries. After all, companies don't do things; it's the people working there that make things happen. With that in mind, I wanted to highlight stories focused on key players in Silicon Valley, Hollywood, and Wall Street this week. First off, in Silicon Valley, a special breed of investor known as 'super angels' are raising their own venture-capital funds as solo general...
Tags: Google, Amazon, Spacex, Elon Musk, Hollywood, Texas, Microsoft, Wall Street, Softbank, Digital, US, Trends, Tesla, Netflix, Silicon Valley, Mars


WeWork is bringing in a new CEO as it tries to right the ship — here's everything that's going on inside the coworking giant

WeWork pulled its IPO in 2019 after mulling a massive valuation cut to drum up investor interest, and cofounder Adam Neumann was ousted as CEO and chairman. WeWork has been slashing jobs and selling or shuttering businesses.  WeWork has announced real-estate veteran Sandeep Mathrani as its new CEO, replacing Artie Minson and Sebastian Gunningham, who served as co-CEOs since Neumann was ousted. It's also seen a big board shakeup.  Marcelo Claure will stay on as chairman, according to The Wall S...
Tags: Google, New York, Mexico, Stanford, Wall Street, Softbank, Israel, US, America, San Francisco, Trends, Kanye West, Brooklyn, Aol, Italy, Brookfield


SoftBank's $100 billion Vision Fund had a no good, very bad year in 2019, but was still in the black overall. Here's why experts are still struggling to make sense of it.

SoftBank's Vision Fund had a terrible year last year, thanks in large part to the collapse of WeWork. To a large degree, though, its overall performance since it was established in 2017 is in the eye of the beholder. Despite last year, the fund was in the black overall at the end of last year, and its performance has improved since then. But its returns to date have been subpar for the venture industry, and the struggles of WeWork and many of its other investments are a worrying sign, venture ...
Tags: Softbank, Trends, Sprint, Alibaba, Silicon Valley, WeWork, Son, ARM, T Mobile, Foote, SIEGEL, Santa Clara University, GrubHub, Stanford Graduate School of Business, PE, Hendershott


The Japanese government gave 2,000 iPhones to passengers stuck on a cruise ship where nearly 200 coronavirus cases have been confirmed (AAPL)

The Japanese government gave 2,000 iPhones to passengers stuck aboard a Diamond Princess cruise ship where nearly 200 coronavirus cases have been confirmed, according to 9to5Mac and Macotakara. The phones were reportedly given out so passengers could download an app on which they can request medication and talk with doctors. Without the phones, people may not have been able to download the app if their devices were registered to app stores of countries other than Japan. Visit Business Insider...
Tags: Japan, Softbank, NFL, Trends, Aapl, Ministry of Health Labor and Welfare, MacOtakara


WeWork's head of enterprise sales is out, leaving a role that's key to the coworking giant's turnaround plan vacant

WeWork's head of enterprise sales has left the company, Business Insider has learned.  Grant McGrail spent three years at WeWork.  Working with major companies rather than freelancers and entrepreneurs is a key growth area for WeWork as the company seeks more stable revenue sources.  Last year, WeWork came in under target for enterprise desks in North America, according to internal data obtained by Business Insider in January. Click here for more WeWork stories. Grant McGrail, WeWork's head o...
Tags: Softbank, San Francisco, Trends, Merck, Ibm, Silicon Valley, WeWork, North America, Oracle, Signal, Blackrock, Business Insider, Netsuite, Claure, Marcelo Claure, Sandeep Mathrani


T-Mobile-Sprint merger might be renegotiated after underwhelming Sprint financials, but doing so could also hurt T-Mobile's growth

German telecom Deutsche Telekom is seeking to renegotiate the merger deal between its US subsidiary, T-Mobile, and rival Sprint, due to the latter's underwhelming financial performance, according to The Financial Times. This follows on the heels of the decision earlier this week in the protracted antitrust lawsuit against the proposed merger, which ruled in favor of T-Mobile and cleared the merger to move past one of its final hurdles. For context, since the merger's announcement in April 2018,...
Tags: Verizon, Softbank, US, Trends, Sprint, Deutsche Telekom, Mvno, T Mobile, T Mobile Sprint, MVNO Ting Mobile


Here's a list of 11 top smart-doorbell and smart-lock brands — and the big money behind tech that's fueled privacy concerns

Amazon's Ring has recently been plagued with criticism over its security and privacy standards.  While Ring is the biggest name in the industry, it was not the first or the only company to create smart doorbells and locks. We gathered a list of the 11 biggest names in smart locks and doorbells. The companies range from venture backed startups to corporate spinoffs, and several have been acquired by tech companies. Visit Business Insider's homepage for more stories. Every smart home needs a sm...
Tags: Google, Amazon, Ebay, China, Massachusetts, Softbank, Blink, Trends, Walmart, Brookfield, Silicon Valley, Google Ventures, Blackstone, Kleiner Perkins, Crunchbase, Bessemer


Flying solo: A new generation of VCs are rewriting the Sand Hill Road playbook and anointing themselves general partners of their own funds

A new generation of tech investors are raising their own venture capital funds as solo general partners. The number of micro-funds is actually on the decline, but the solo general partner's ranks are expected to grow as more companies go public and capital becomes more available. The solo general partner participates in the crowded early-stage investing space, but their size and background gives them an advantage over institutional funds. Click here for more BI Prime stories. Sand Hill Road...
Tags: Facebook, Twitter, Softbank, Trends, Ocean, Ben Horowitz, Susan Wojcicki, Coinbase, Hoover, Ryan Hoover, Product Hunt, Erik Torenberg, Zendesk, Marc Andreessen, Sand Hill Road, Ashley Mayer


Big meditation money, new VC funds, and how do you value Airbnb?

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. After having a good time with NEA’s Rick Yang last week, we thought we’d bring on another venture capitalist. So this week Danny and I had Elliott Robinson from Bessemer swing over for the show. As it turned out, he was about as correct as guest as possible as not only did the topics of the week line up with where he invests, he’s also friends with some of the folk...
Tags: Fundings & Exits, Startups, TC, Podcasts, Softbank, Venture Capital, Equity, Nea, Bessemer, Danny, Rick Yang, Equity podcast, Recent Funding, Elliott Robinson, Equal Ventures, Brandless RIP


T. Rowe Price calls WeWork a 'terrible investment' (TROW)

In an unusually frank letter, fund managers at T. Rowe Price derided WeWork as a "terrible investment." T. Rowe Price led WeWork's Series D financing round in 2014, which valued the company at $4.65 billion. The fund managers said they invested with the understanding that WeWork would curb its losses and growth, but that didn't happen. WeWork failed to go public last year and nearly went bankrupt instead, sending its valuation plummeting in the process. Visit Business Insider's homepage for mo...
Tags: Softbank, US, Trends, Silicon Valley, WeWork, Neumann, Adam Neumann, Wakeman, Rowe, T Rowe Price, Berghuis, Adam Neumann Neumann, Brian W H Berghuis, John F Wakeman, PitchBook Berghuis Wakeman


How a video game wunderkind promised a robot revolution that mesmerized SoftBank but went off the rails: The inside story of Zume Pizza

Zume Pizza, the pizza-making robotics startup, spent its early days pitching investors and the public on an AI-powered robotic revolution at the hands of its robot fleet. But the revolution hit a snag, and in January, Zume announced that it was permanently shuttering Zume Pizza, the robotics division of the company, and laying off roughly 360 employees across multiple offices. Now, Zume is looking to sustainable packaging to stay afloat as its cofounder and CEO Alex Garden struggles to right t...
Tags: Garden, Japan, Hbo, Microsoft, Steve Jobs, Stanford, Softbank, San Francisco, Trends, Zynga, Arizona, Xbox, Pizza Hut, Silicon Valley, Mountain View, Seattle


Adam Savage Found the Perfect Reason To Spend Tens of Thousands of Dollars on a Robotic Dog

With a price tag of tens of thousands of dollars, Boston Dynamics’ Spot robodog was a tough sell when it officially went on sale last September. A real dog was much cheaper, and arguably more useful, but as an alternative to an electric car, Adam Savage might have found the perfect way to justify buying a robotic dog.Read more...
Tags: Science, Softbank, Robots, Robotics, Tested, Adam Savage, Boston Dynamics


Catching up on China’s tech influence operations in America

It’s been a dizzying few weeks following all the China news emanating from Washington DC these days. While a “phase one” trade deal with China has been signed and appears to be moving forward as of a month ago (we covered the origins of this trade war extensively on TechCrunch in 2018 and 2019), it has also become clear that the Trump administration and its various agencies are aggressively targeting China on a variety of fronts. Here’s what’s been happening with startup funding, Huawei, univers...
Tags: Google, Verizon, Asia, UK, Wtf, Justice, Saudi Arabia, Government, China, Germany, Softbank, America, Tech, Intel, Policy, Harvard


Warren Buffett, Bill Gates, and the rabbit-duck illusion: SoftBank's CEO used the famous image to rebrand as an investor

SoftBank CEO Masayoshi Son wants the Japanese conglomerate to be seen as an investment company, not an operating one. Son used the rabbit-duck illusion to make his case during SoftBank's earnings presentation on Wednesday. He urged investors to look at SoftBank's "shareholder value," not its revenues and profits. Asked if he had turned from Bill Gates into Warren Buffett, Son replied that he was more adventurous than Buffett and "still making some craziness." Visit Business Insider's homepage ...
Tags: Facebook, Softbank, Trends, Netflix, Sprint, Bill Gates, Alibaba, Berkshire Hathaway, Warren Buffett, Son, Jack Ma, Buffett, EBIT, Masayoshi Son, Warren Buffett Bill Gates, Warren Buffett Son


10 things in tech you need to know today

Good morning! This is the tech news you need to know this Thursday. The CEO of Cisco disagreed with a Trump administration proposal to take an ownership stake in Nokia and Ericsson to counter China's 5G offensive. Chuck Robbins said he disagreed with a Trump Administration proposal to buy an ownership stake in Ericsson and Nokia to counter China in 5G. Apple has added $18 billion in market value after its Chinese factories accelerated their post-coronavirus re-openings. Foxconn, which produces...
Tags: Apple, Amazon, Facebook, Europe, California, China, Softbank, Nokia, America, Trends, Cisco, Tesla, Eu, United States, Beverly Hills, Jack Warner


WeWork's new CEO Sandeep Mathrani has to pull off one of the most difficult turnarounds Silicon Valley has ever seen. Insiders explain what he's like, and why he's the guy to do it.

Sandeep Mathrani, WeWork's incoming CEO, starts on February 18. To understand how he will likely lead the struggling coworking giant, we talked with six executives at his former company GGP. Mathrani started at the mall company GGP after his predecessors laid the foundation for a major turnaround, and he continued the plan with his operating expertise. WeWork wasn't his first stop after working at GGP's parent company — instead, he was set to be a consultant for the private-equity giant Starwo...
Tags: India, Softbank, US, Trends, Chicago, Kanye West, Washington Dc, Sheldon Adelson, Starwood, Brookfield, Silicon Valley, Bill Ackman, WeWork, Nolan, Metz, Signal


SoftBank Vision Fund lost $2.1B in Q3 as profits continue to plummet

The Japanese conglomerate and backer of Compass and Opendoor, is scaling back plans for its second Vision Fund.
Tags: Technology, Softbank, Radio, WeWork, Compass, Masayoshi Son, Select, News Brief, Opendoor, SoftBank Vision Fund, Vision Fund


Warren Buffett, Bill Gates, and the rabbit-duck illusion: SoftBank's CEO used the famous image to rebrand as an investor

SoftBank CEO Masayoshi Son wants the Japanese conglomerate to be seen as an investment company, not an operating one. Son used the rabbit-duck illusion to make his case during SoftBank's earnings presentation on Wednesday. He urged investors to look at SoftBank's "shareholder value," not its revenues and profits. Asked if he had turned from Bill Gates into Warren Buffett, Son replied that he was more adventurous than Buffett and "still making some craziness." Visit Business Insider's homepage ...
Tags: Facebook, Softbank, Trends, Netflix, Sprint, Bill Gates, Alibaba, Berkshire Hathaway, Warren Buffett, Son, Jack Ma, Buffett, EBIT, Masayoshi Son, Warren Buffett Bill Gates, Warren Buffett Son


Softbank's Vision Fund 2 stalls as key backers opt out - Reuters

Softbank's Vision Fund 2 stalls as key backers opt out - Reuters:Big investors who are critical to SoftBank Group’s plans for a second massive technology investment fund are refusing to take part unless the first $100 billion Vision Fund can turn around its performance, sources familiar with the talks told Reuters.SoftBank chairman Masayoshi Son on Wednesday acknowledged the lack of commitments for Vision Fund 2, but vowed to forge ahead with his investment strategy using SoftBank money.That app...
Tags: Travel, Softbank, Reuters, Elliott Management, Masayoshi Son, SoftBank Group, Rupert Neil Bumfrey, Reuters SoftBank, Vision Fund


A startup that's raised $25 million from Keith Rabois and Coatue is going up against $2.6 billion Brex and pitching itself as the Honey of corporate cards

Corporate-card startup Ramp on Wednesday announced its official launch and $25 million in funding from veteran tech investor Keith Rabois, as well as others including Coatue and BoxGroup.  The New York-based fintech analyzes customers' transactions to recognize areas where money could be saved. Cofounders Eric Glyman and Karim Atiyeh previously created a similar company focused on getting refunds for retail consumers through analyzing credit card transactions, which they sold to Capital One in...
Tags: New York, Softbank, Trends, Paypal, WeWork, Capital One, Kabbage, Keith Rabois, Rabois, Coatue, Brex, Eric Glyman, Karim Atiyeh, American Express and Silicon Valley Bank Brex, Coatue BoxGroup, Eric Glyman Ramp


A stock and a hard place: SoftBank's $150 billion Alibaba warchest in spotlight

SoftBank CEO Masayoshi Son threw cold water on Wednesday on the idea of cutting his firm's $150 billion stake in e-commerce giant Alibaba, after prominent activist investor Elliott Management called for big buybacks.
Tags: Money, Softbank, businessNews, Alibaba, Elliott Management, Masayoshi Son


SoftBank's profits nosedived 99% last quarter. Here's why its stock went up 12%.

SoftBank's third-quarter earnings revealed a 99% drop in third-quarter profits. However, investors sent the Japanese conglomerate's stock up 12% on Wednesday. The rally was due to a judge approving the merger of SoftBank-owned Sprint and T-Mobile. Sprint stock skyrocketed 78% on Tuesday, netting SoftBank more than $12 billion. Visit Business Insider's homepage for more stories. SoftBank revealed a 99% drop in third-quarter profits on Wednesday. Investors responded by sending its stock up 12%,...
Tags: Facebook, Softbank, Trends, Netflix, Sprint, WeWork, T Mobile, Sprint and T Mobile Sprint


Battery Ventures partner Chelsea Stoner explains why she looks for startups that can't be reached by a direct flight as her firm announces a new $2B fund

Battery Ventures, a legacy tech VC firm, announced its latest $2 billion fund, the largest amount it's ever raised. The firm's new fund is split into main and side funds but will operate jointly for larger growth investments. General Partner Chelsea Stoner told Business Insider that she will scout for deals wherever her research takes her and that companies located in places that require a connecting flight are often the best deals. As growth investing gets increasingly competitive, Stoner hop...
Tags: Apple, Softbank, Trends, United States, Silicon Valley, Accel, Battery Ventures, Stoner, Chelsea Stoner, Lucky for Battery Ventures


SoftBank profit wiped out by Vision Fund losses, second fund scaled back

Quarterly profit at SoftBank Group Corp was almost wiped out as the Japanese technology giant was hit for a second straight quarter by losses at its $100 billion Vision Fund.
Tags: Money, Softbank, businessNews, SoftBank Group Corp, Vision Fund


SoftBank Takes Another Multibillion-Dollar Hit From Bad Bets

The Japanese company’s $2 billion plunge in profitability will increase pressure on the conglomerate to get its financial house in order.
Tags: News, Softbank, Son, Elliott Management Corp, Company Reports, Stocks and Bonds, SOFTBANK Corporation, Sprint Nextel Corporation, Masayoshi, T-Mobile US Inc, Cellular Telephones, WeWork Companies Inc