Tag: Softbank
Mobile payments firms in India are now scrambling to make money
Vijay Shekhar Sharma, founder and chief executive of India’s most valuable startup, Paytm, posed an existential question in a recent press conference. “What do you think of the commercial model for digital mobile payments. How do we make money?” Sharma asked Nandan Nilekani, one of the key architects of the…
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OneWeb to file for bankruptcy as effort to securing funding, including from investor Softbank, falls through
Broadband constellation satellite operator OneWeb has officially filed for bankruptcy protection in the U.S., after attempts to secure new funding, including from existing investor SoftBank, fell through, TechCrunch has learned. The Financial Times also reported on the failure of its funding attempt on Friday, based on its own separate sources.…
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Flexport, Arnold Schwarzenegger and others launch a fund to get supplies to front-line responders
There’s a global shortage of available protective equipment (PPE) and medical supplies for use by front-line responders working to fight the spread of the novel coronavirus, and the Frontline Responders Fund wants to channel donations to help address that shortage. The fund, which is seeking public donations via GoFundMe, will…
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OneWeb confirms layoffs and potential launch schedule delays amid reported bankruptcy considerations
Satellite operator OneWeb has confirmed that its workforce has been reduced via layoffs, after TechCrunch learned that it reduced its workforce by as much as 10 percent this week. The company did not confirm the total size of the layoff, but provided a statement to TechCrunch regarding the current state…
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SoftBank-backed Indian startup Oyo to cut 5,000 jobs globally
Oyo said on Wednesday it is laying off 5,000 people from its global workforce as the Indian budget hotel startup looks to cut its spendings and chase profitability. The latest round of job cuts would reduce Oyo’s headcount to 25,000 in over 80 countries where it operates. An Oyo spokesperson…
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Latin America roundup: Softbank adds $1B, Stori raises $10M and Grow Mobility puts on the brakes
After investing nearly $2 billion of its Innovation Fund in Latin America in 2019, Softbank announced this month that it would add an additional $1 billion into the fund to continue supporting tech startups across the region. While the Japanese investor faces the challenge of raising a second global fund after its…
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