Category: Softbank
Uber claims top spot in Indian ride-hailing market
Uber facilitated 14 million rides a week in India last year, the American ride-hailing firm said as it claimed the tentpole position in the key overseas market. In a report (PDF) published on the sidelines of its quarterly earnings Thursday afternoon, Uber said that it commanded over 50% of the ride-hailing…
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As its fundraising lags, SoftBank’s second Vision Fund could be near-sighted
SoftBank, the technology conglomerate that transformed the venture capital industry and made waves in the technology world with its $100 billion Vision Fund, may not be able to repeat the performance or sustain its revolutionary approach to tech investing, The Wall Street Journal reports. According to the Journal, SoftBank may…
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Shrunken unicorn Fair cancels car leasing to Uber drivers
When Fair laid off 40% of its staff in October, CEO Scott Painter promised it wasn’t shuttering leasing services to on-demand fleets. But just a week later, Painter was removed and replaced in the interim with Adam Hieber, a CFA from Fair investor SoftBank. Today, according to two sources, Fair…
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Advocating reform, activist investor Elliott Management takes a $2.5B stake in SoftBank
The activist investment firm Elliott Management has steadily amassed a $2.5 billion stake in the headline-grabbing, Japanese technology conglomerate SoftBank even as a series of missteps battered the company’s share price. Famous for its investments in companies like Slack and Uber and infamous for betting billions on the co-working real…
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Watch OneWeb launch 34 satellites for its broadband constellation live
[embedded content] One of the various companies looking to deploy a globe-spanning broadband internet satellite constellation is adding 34 more satellites to its existing operations in space. OneWeb will launch that many satellites aboard a Soyuz rocket from Kazakhstan with a liftoff time set for 4:42 PM EST (1:32 PM…
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Alphabet’s Loon and SoftBank’s HAPSMobile turn solar-powered drones into flying cell towers
Alphabet-owned Loon, the company that had been focused on delivering internet communications to remote areas via stratospheric balloons, has completed development work on a new payload for partner HAPSMobile, a subsidiary of SoftBank that’s building high-altitude solar-powered uncrewed aircraft. The two companies jointly adapted the communications technology that enables Loon’s…
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