Category: Softbank
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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Hyundai buys controlling interest in Boston Dynamics
It’s official. Boston Dynamics is becoming part of the Hyundai family (pending regulatory approval, naturally). The Waltham, Massachusetts-based robot maker confirmed that the South Korean technology company is acquiring controlling interest in a press release today. The deal, which values the company at $1.1 billion, gives Hyundai Motor Group an…
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SoftBank has reportedly sold Boston Dynamics to Hyundai
Hyundai Motors is acquiring Boston Dynamics, according to The Korea Economic Daily. The publication says Softbank has agreed to sell the robot maker for 1 trillion won (US$917 million) and that the acquisition will be finalized at a board meeting tod… Source
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India sets rules for commissions, surge pricing for Uber and Ola
Ride-hailing firms such as Ola and Uber can only draw a fee of up to 20% on ride fares in India, New Delhi said in guidelines on Friday, a new setback for the SoftBank-backed firms already struggling to improve their finances in the key overseas market. The guidelines, which for…
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Google-backed Chinese truck-hailing firm Manbang raises $1.7 billion
The Chinese Uber for trucks Manbang announced Tuesday that it has raised $1.7 billion in its latest funding round, two years after it hauled in $1.9 billion from investors including SoftBank Group and Alphabet Inc’s venture capital fund CapitalG. The news came fresh off a Wall Street Journal report two…
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