Categories Softbank Vision Fund

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From pickup basketball to market domination: My wild ride with Coupang

Ben Sun Contributor Share on Twitter Ben Sun is co-founder and general partner at Primary Venture Partners, a seed-stage VC firm based in NYC. A month ago, Coupang arrived on Wall Street with a bang. The South Korean e-commerce giant — buoyed by $12 billion in 2020 revenue — raised […]

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Trading platform eToro to go public via SPAC merger in $10B deal

Multi-asset investing and trading platform and Robinhood competitor eToro announced Tuesday it will go public via a merger with SPAC FinTech Acquisition Corp. V in a massive $10.4 billion deal. Once the transaction closes sometime in the third quarter, the combined company will operate as eToro Group Ltd. and is […]

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SoftBank files for a double scoop of SPAC

The SPAC mania continues unabated, with new SPACs being filed with the SEC on an almost hourly basis at times. SoftBank, the Japanese telecom conglomerate which has also been running the gigantic Vision Fund and its successor, doesn’t want to be left out. Yesterday, it filed back-to-back SPAC registration statements […]

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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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Brazilian lending company Creditas raises $255 million as Latin America’s fintech explosion continues

Creditas, the Brazilian lending business, has raised $255 million in new financing as financial services startups across Latin America continue to attract massive amounts of cash. The company’s credit portfolio has crossed 1 billion reals ($196.66 million) and the new round will value the company at $1.75 billion thanks to […]

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If you didn’t make $1B this week, you are not doing VC right

The only thing more rare than a unicorn is an exited unicorn. At TechCrunch, we cover a lot of startup financings, but we rarely get the opportunity to cover exits. This week was an exception though, as it was exitpalooza as Affirm, Roblox, Airbnb, and Wish all filed to go […]

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WeWork’s chairman says it expects to have positive cash flow in 2021

After aggressive cost-cutting measures, including mass layoffs and selling several of its businesses, WeWork’s chairman expects the company to have positive cash flow in 2021. Marcelo Claure, who became WeWork’s chairman after co-founder Adam Neumann resigned as chief executive officer last fall, told the Financial Times that the co-working space […]

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SoftBank confirms it may sell some of its T-Mobile stake

SoftBank Group confirmed today it is considering selling its T-Mobile U.S. shares. Bloomberg reported last month that SoftBank was nearing an agreement to sell about $20 billion of its T-Mobile U.S. shares to investors including Deutsche Telekom, T-Mobile’s controlling shareholder, in an effort to offset major losses from its investment […]

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View, the dynamic glass company that raised $1.1 billion from SoftBank in 2018, is laying people off

View, a 13-year-old, Milpitas, Calif.-based company that makes dynamic glass designed to reduce heat and glare as well as lessen eyestrain, has cut an unknown number of employees, including at a plant in Olive Branch, Mississippi. One employee of several years, an IT manager, wrote on LinkedIn that he was […]

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SoftBank expects $24 billion in losses from Vision Fund, WeWork and OneWeb investments

The Japanese technology conglomerate SoftBank Group said it would lose a staggering $24 billion on investments made through its Vision Fund and bets on the co-working real estate company WeWork and satellite telecommunications company OneWeb. Ultimately, the company expects the losses to help generate a $7 billion total loss for […]