Tag: Softbank
The great unicorn retreat
Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. Today we’re taking stock of what’s happening to a number of unicorns, both public and private. This is the third time we’ve sat down to document what feels like a…
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SoftBank-backed Oyo cuts salaries, furloughs employees
Oyo is furloughing more employees globally and levying a 25% pay cut across the board through July this year as the Indian budget lodging startup looks to reduce its expenses to deal with the coronavirus pandemic that has slashed its revenue by about 60%. Rohit Kapoor, chief executive of Oyo,…
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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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Delivery Hero CEO shares what he’s learned about managing logistics during a pandemic
Food-delivery platforms are on the front lines during the coronavirus crisis, with major spikes in demand as communities are confined at home, likely with more time to cook than usual. And while some restaurants have opted to shut down, others have turned to takeout as a lifeline. Yet physical contact…
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SoftBank-backed Opendoor has announced a massive layoff, cutting 35% of its employees
Opendoor, the seven-year-old, San Francisco-based company that has from the outset aimed to help people buy and sell homes with the “push of a button” or nearly, just laid off more than a third of its staff. According to a statement sent to us by cofounder and CEO Eric Wu,…
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Unicorn layoffs keep piling up as the economy gets worse
Earlier today a grip of new data presented a sharply negative picture of the American economy. And this afternoon, news broke that a trio of well-known, heavily-backed unicorns were cutting staff. With stocks down as well, we’ve received negative signals from the private market, the public market and the economy…
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