Category: Softbank
Layoffs hit another Softbank co as $3.2B Flexport cuts 50
Fearing weak fundraising options in the wake of the WeWork implosion, late stage startups are tightening their belts. The latest is another Softbank-funded company, joining Zume Pizza (80% of staff laid off), Wag (80%+), Fair (40%), Getaround (25%), Rappi (6%), and Oyo (5%) that have all cut staff to slow…
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As a top manager leaves amid fundraising woes, SoftBank’s vision looks dimmer — and schadenfreude abounds
Every once in a while, an organization implodes so fantastically that it’s hard in retrospect to understand why another outcome once seemed possible. With every passing day, SoftBank — which shook up the investing world with the largest investment fund ever pooled, then seemed to use its capital as a…
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Report: WeWork has a new CEO and he’s a real estate — not a tech — exec
If WeWork wanted to cement the impression that it no longer strives to be viewed as a tech company but rather as a real estate giant focused on leasing space to millennials and enterprise customers, it would probably choose a veteran from the real estate world. That’s just what it…
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Indian ride-hailing firm Ola to launch in London on February 10
Ride-hailing firm Ola will begin operations in London on February 10, it said today as the Indian firm slowly expands into new international markets and widens its competition with Uber, another SoftBank portfolio firm. Ola said it will be “fully operational from day one” in London, where it has signed…
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SoftBank wants its on-demand portfolio to stop losing so much money
SoftBank wants its competing portfolio companies to stop losing so much money and, in some cases, to merge. That’s the news out from the Financial Times today, which reported that Uber and DoorDash discussed merging last year. The talks didn’t wind up in a deal. The two companies, each heavily…
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Five reasons you (really) don’t want to miss TechCrunch’s AI and Robotics show on March 3
TechCrunch’s fourth Robotics and AI show is coming up on March 3 at UC Berkeley’s Zellerbach Hall. If past experience is any guide, the show is sure to draw a big crowd (cheap student rates here!), but there’s still time to grab a pass. If you’re wondering why you want…
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