SoftBank posts $5.93 billion loss in December quarter as investment arm struggles
SoftBank generated a profit for the first time in three quarters in the prior quarter as it sold a sizable portion of its treasured holding, Alibaba Group Holding, to raise funds
PB Fintech shares gain after SoftBank reduces stake by half; details here
After the news, the PB Fintech was trading at a price of Rs 470.20 per share at 12:51 pm, which is a jump of 2 percent since the market opened
Narendra Modi discusses Softbank's participation in new technologies with company founder in Tokyo
They discussed various reforms being undertaken to enable ease of doing business in India. Specific proposals were shared with Softbank where it could enhance its investments in India
Paytm Rs 18,300-crore IPO subscription to open on 8 November
The company has filed papers with markets regulator SEBI and is planning to get listed on 18 November
Hyundai Motor Group buys controlling stake in the robotech company Boston Dynamics
The acquisition of Boston Dynamics by Hyundai Motor Group raises its valuation to $1.1 billion.
Ola Electric acquires Amsterdam-based AppScooter maker Etergo, to launch electric two-wheeler next year
Ola Electric, without disclosing the deal value, said it aims to launch its electric two-wheeler in India in 2021, and the acquisition of Etergo will further bolster OEM's engineering and design capabilities.
Startup community stares at fund crunch in absence of venture capital, reinvents businesses to survive economic slowdown
The rapid global economic slowdown, India’s coronavirus lockdown of 1.3 billion people and an exodus of venture capital are testing a start-up community that has quickly become one of the world’s biggest, raising a record $14.9 billion last year
Indonesia considers 2032 Olympics bid for new capital city with SoftBank's help
Indonesian President Joko Widodo is weighing an audacious 2032 Olympics bid centred on the country’s not-yet-built new capital and is in early talks with SoftBank chief executive Masayoshi Son and other investors
Private equity, VC investments hit record high of $48 bn in 2019; huge fund flow to infrastructure sector drives growth: Report
As per the report, private equity/VC investments in infrastructure space were at $14.5 billion in 2019, which were higher than the cumulative PE/VC infrastructure investments received in the previous seven years.
Exclusive: Oyo’s Ritesh Agarwal opens up about job losses, Aditya Ghosh, governance issues, and SoftBank’s role
“This is the first time I am doing an interview, but I have been open all throughout.”
Entrepreneurs should not make the unicorn status the measure of their success, says InfoEdge co-founder
Startups should aim for customer satisfaction, unit economics, profitability, and not unicorn status.
Oyo layoffs: After announcing job cuts, Oyo under pressure from Softbank to curb operating losses
Ritesh Agarwal, the company’s chief executive, said Oyo was focused on sustainable growth and profitability — which meant layoffs.
Oyo CEO Ritesh Agarwal hints at more layoffs to drive sustainable growth; around 1,000 Indian employees to lose jobs
The focus of Oyo and Agarwal for 2020 will be on sustainable growth, operational and customer excellence, profitability, and training and governance.
Oyo Rooms accused of questionable practices, toxic culture and fraud by former employees, hotel partners
Oyo has also imposed extra fees on hotels and declined to pay the hotels the full amounts they claimed they were owed, according to interviews
Oyo likely to cut 2,000 jobs in India by end-January as part of cost-cutting, technology addition measures
Last month, Oyo’s internal projections showed it may not make a profit in India and China until 2022, even as the India-based hotel chain revealed a six-fold rise in losses during fiscal year 2019.
SoftBank-backed Paytm raises $660 mn from Alibaba arm Alipay, others; 2.6 mn shares to be allotted to investors
On 29 November, there were reports that Paytm was looking at raising another round of funding of $1 billion, and is in discussion with multiple investors, including former UK Prime Minister David Cameron.
SoftBank is reportedly selling its almost 50 percent stake in Wag back to the company
Wag CEO reportedly said that they are amicably parting ways with SoftBank and SoftBank will no longer have board representation.
Committed to India in the long term, says SoftBank’s India head Sumer Juneja
Masayoshi Son, CEO and Founder of SoftBank, during his India visit, said that he wants to bet on the future.
Paytm is looking at raising another round of $1 bn; former UK PM David Cameron may also invest
Paytm had earlier this week announced a $1 billion (around Rs 7,173 crore) fund raise led by US-based asset management firm T Rowe Price
Oyo unlikely to make profit in India, China until 2022; reveals six-fold rise in losses during fiscal year 2019
The losses highlight rapid expansion by Oyo into China, the US, the UK and other markets, which has made the six-year-old startup one of the world’s biggest hospitality brands by room count.