WeWork may lay off thousands
According to a source, WeWork would lay off 2,000 to 2,500 employees and an additional 1,000 employees will leave as WeWork sells or closes down non-core businesses. Further, roughly 1,000 building maintenance employees will be transferred to an outside contractor
Valuations set for a correction in 2020, says Norwest’s Haque
There comes a time in the cycle when investors get really cautious and we're in...
Healthians raises Rs 85 crore in Series B
Healthians founder Deepak Sahni said the company would use the funds to expand into tier II-III cit...
Saudi Aramco seeks $1.71 trillion valuation in world’s biggest IPO
Aramco will sell just 1.5% of its shares on the the local stock exchange, the Tadawul.
SoftBank's second Vision Fund is starting life with a mere $2 billion
So far, it is unclear whether there are any outside investors in the second fund. The original Vision Fund was announced in October 2016, but took another seven months for its first major closing with $93 billion in commitments.
Ex-Housing CEO in fray for WeWork top job
When asked about the development, a SoftBank spokesperson said, “We don’t comment on speculation.”
SoftBank's Paytm top-up to come with riders
If an IPO doesn't take place in 5 years, then SoftBank will have the right to sell its stake to a rival.
SoftBank to create $30 bln tech giant with Yahoo Japan, Line Corp merger
The deal, which would combine the providers of two of Japan's top QR code payment services, offers SoftBank access to 164 million Line users and their data in Japan and Southeast Asia as it expands into services outside its core wireless business. It also offers Line a deep-pocket patron who can offer its tech expertise, including potentially via the giant Vision Fund.
SoftBank Group's profit plunges, Son admits 'poor' decisions
The firm said first-half operating losses from its Vision Fund and Delta Fund came to 572.6 billion yen, largely "due to a decrease in the fair values of investments including Uber and WeWork and its three affiliates".
Saudi Aramco will not market IPO in US
The sources said Aramco will no longer rely on that rule, meaning it will not market the shares in the US.
Here’s how SoftBank says it’ll fix WeWork and turn it profitable
In a mix of bravado and practicality that’s vintage Son, the billionaire opened his speech by describing the earnings announcement as “not good at all.” He then said that turning around WeWork would be “simple” and that his team had a plan for it.
SoftBank’s Son defiant as WeWork triggers $6.5 billion loss
SoftBank recorded an operating loss of 704.4 billion yen ($6.5 billion) after writedowns in WeWork and other investments, the Japanese company’s first such loss in 14 years. Its $100 billion Vision Fund lost 970.3 billion yen.
How SoftBank’s Masayoshi Son became poorer by $6 billion
The Vision Fund is believed to be planning to swallow a charge of at least $5 billion.
Bull run for private technology funding market coming to an end: Softbank's Deep Nishar
Nishar said the debacle at WeWork, which SoftBank bailed out with a $9.5 billion cash injection, was an extreme case of dissonance between private, and what would have been its public market valuation.
Silicon Valley is a born-again believer in profits
It was only a few years ago that investors started to become anxious about the vast sums of money flying into unprofitable startups. The bubble didn’t burst, but air deflated a bit from the balloon.
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