Page 3 - Softbank

Softbank-backed health unicorn Cerebral to lay off 20% of its staff

SoftBank-backed digital mental health company Cerebral is laying off about 20 per cent of its staff as it restructures its business

Manoj Kohli parts ways with SoftBank India as country head, say sources

Kohli has supported over 20 portfolio companies of the Japanese conglomerate and its Vision Fund

IPO-bound OYO's valuation dips in pvt market after markdown by SoftBank

Valuation of IPO-bound OYO in the private market has dipped to around USD 6.5 billion following reports of a markdown of valuation of the hospitality and travel-tech firm by SoftBank in its private books, according to industry players. In the week ended September 30, 2022, nearly 12.3 lakh shares of the company were sold in the private market as compared to over 1.6 lakh shares sold in the previous week. The sell-off followed reports that its largest investor SoftBank has cut the valuation of the hospitality platform by 20 per cent to USD 2.7 billion in its books, said a source. When OYO updated its financials in its draft prospectus last month, reporting positive EBIDTA besides the narrowing of losses, the company's share price in the private market had risen to Rs 94 per share. However, in the subsequent days following reports of the markdown of OYO's valuation by SoftBank, the company's valuation dipped by nearly 13 per cent to Rs 81 per share, said the source. "Last year, ...

SoftBank-backed Meesho records nearly 68% jump in festival sales

Customers placed a record of about 33.4 million orders during the mega sale with nearly 60 per cent of all orders coming from tier 4+ cities.

SoftBank cuts about 150 staff globally, including at Vision Fund: Report

The Tokyo-based company informed some staff Thursday and at least 100 workers will likely be affected, said the people, asking not to be named as the information is not public

SoftBank cuts valuation of IPO-bound Oyo by 20% to $2.7 bn: Report

'We are confident that the speculations about valuation markdown are patently incorrect,' an OYO spokesperson said in a statement

Oyo reports its first EBITDA positive quarter, reduces FY22 losses

In FY22 revenues were Rs 4,905 crore, up 18 per cent against Rs 4,157.3 crore reported in FY21

SoftBank's Masayoshi Son discusses setting up third Vision Fund: Report

The 65-year-old entrepreneur has raised billions of dollars in cash recently and sees another startup fund as one of several possible priorities for the money

SoftBank, others in talks to lead $75-million funding in GoMechanic

"The conversations between the investors and GoMechanic are still going on and one of the investors has also shared the term sheet with the firm," said a person familiar with the development

SoftBank plans $35 million bet on India's GoMechanic, says report

SoftBank has for years been a prominent backer of Indian startups, investing close to $4 billion last year alone, according to data from Venture Intelligence

SoftBank Group Corp to drop at least 20% staff at Vision Fund operation

The cuts will mostly be in the UK, US and China operations, which have the most headcount, said the people

PE, Sovereign funds making larger investments in Indian tech firms

PE funds like Advent, TPG, Temasek and GIC have sped up their investments in India with larger cheques of $100 million or more

Softbank's Rajeev Misra steps down as corporate officer and exec VP

Remains CEO of SB Investment Advisers which manages SoftBank Vision Fund 1, Masayoshi Son to manage second Vision Fund; move follows record losses in the Japanese investment group

SoftBank's Rajeev Misra steps down as corporate officer on record loss

Rajeev Misra retain his post as head of SoftBank Investment Advisers, which helps oversee the first Vision Fund's existing investments

Laying eyewear optic fibre to make 400 mn specs per year: Lenskart's Bansal

As part of that strategy, the SoftBank-backed firm is setting up the world's largest eyewear manufacturing plant in Bhiwadi, a city in Rajasthan

SoftBank taps Sumer Juneja to oversee European investments: Report

Juneja's enhanced role comes amid the impending departures of managing partners Yanni Pipilis and Munish Varma, who are joining a new investment firm led by Misra

Masayoshi Son now down $4 bn on SoftBank side deals due to market downturn

Masayoshi Son holds 17.25% of a vehicle set up under SoftBank's Vision Fund 2 for its unlisted holdings, as well as 17.25% of a unit within its Latin America fund

Meesho adds 8 new vernacular languages to tap 377 mn potential user base

Softbank-backed e-commerce firm Meesho has added eight new vernacular languages to its platform with an eye on 377 million potential users across different regions, the company said on Friday.

Top headlines: SoftBank warns of funding cuts, Vedanta eyes $100 bn revenue

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Prep for funding winter: SoftBank warns its portfolio firms of cost cutting

Japanese tech investor asks portfolio firms to conserve cash reserves for 12-24 months