Category: Softbank Vision Fund
Vision Fund backs Chinese fitness app Keep in $360 million round
As Chinese fitness class provider Keep continues to diversify its offerings to include Peloton-like bikes, health-conscious snacks among other things, it’s bringing in new investors to fund its ambitions. On Monday, Keep said it has recently closed a Series F financing round of $360 million led by SoftBank Vision Fund.…
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SoftBank will reportedly file for a SPAC on Monday
SoftBank Investment Advisers may file as early as Monday to raise between $500 million and $600 million through an initial public offering of its first special purpose acquisition vehicle, reports Axios. SoftBank Investment Advisers manages the two Vision Funds and may continue leaning into SPACs, with two more reportedly in…
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Early DoorDash investor Saar Gur makes the case for 10x growth from here
The stunning debut of the food delivery company DoorDash on the public market this week has plenty of people puzzled. While undeniably fast-growing, the unprofitable delivery company has come under fire numerous times over its employment practices, and its IPO, like that of other gig-economy companies, leaves a lot of…
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Cruise lays off 8% of workforce amid COVID-19, puts resources towards engineering
Cruise, the self-driving car subsidiary of GM that also has backing from SoftBank Vision Fund, automaker Honda and T. Rowe Price & Associates, is laying off nearly 8% of its more than 1,800-member workforce today as it tries to reduce costs during the COVID-19 pandemic. The layoffs will affect employees…
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Cruise hires PG&E board chairman Jeff Bleich as chief legal officer
Cruise, the subsidiary of GM that also has backing from SoftBank Vision Fund, automaker Honda and T. Rowe Price & Associates, is turning to a heavy hitter to head up its legal team. The autonomous vehicle technology company has hired Jeff Bleich, board chairman of utility Pacific Gas & Electric,…
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View, the dynamic glass company that raised $1.1 billion from SoftBank in 2018, is laying people off
View, a 13-year-old, Milpitas, Calif.-based company that makes dynamic glass designed to reduce heat and glare as well as lessen eyestrain, has cut an unknown number of employees, including at a plant in Olive Branch, Mississippi. One employee of several years, an IT manager, wrote on LinkedIn that he was…
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