Morrisons shareholders to vote on Fortress-led takeover bid on 16 August July 22, 2021 Shareholders in Morrisons will vote on a £6.3bn takeover bid from a trio of private investment groups led by SoftBank-owned Fortress on 16 August. In a document outlining Fortress Investment’s offer, Morrisons today said a court meeting and a general meeting of shareholders would be held on the August date. Fortress’ offer for the British [...]
SoftBank injects $1.7bn into South Korea’s largest travel app ahead of IPO July 15, 2021 SoftBank’s Vision Fund II is injecting around $1.7bn in South Korea’s largest travel app ahead of its initial public offering and a worldwide travel boom. Seoul-based startup Yanolja, South Korea’s largest travel app said it plans to use the funds to expand geographically and to widen its digital technologies in the travel and hospitality industry. [...]
SoftBank-backed Flipkart rallies $37bn valuation, just south of its target July 12, 2021 Indian e-commerce giant Flipkart, which is controlled by Walmart, has been valued at $37.6bn today, just shy of its target. The valuation comes ahead of an initial public offering (IPO), which it hopes will take place early next year. Flipkart rallied $3.6bn in the pre-IPO fundraiser, which spurred its valuation and was co-led by SoftBank Vision [...]
Delivery boom: Ant Group-backed Zomato eyes IPO valuation of nearly $8bn July 8, 2021 Ant Group-backed food delivery company Zomato has a near $8bn valuation on the cards in its initial public offering (IPO), with shares priced at 0.96 cents to $1.02 per share. Zomato, one of India’s most biggest startups, has reaped the rewards of a pandemic-induced surge in online ordering. The lofty $7.98bn figure is at the [...]
SoftBank-backed Sinch to buy MessageMedia for $1.3bn June 9, 2021 Cloud communications firm Sinch is set to buy mobile messaging business MessageMedia for $1.3bn to bolster small and medium businesses (SMEs) post-pandemic. Sinch, of which Japan’s SoftBank has a $690m stake, will seal the deal with $1.1bn in cash around 1m new shares. “Addressing small and medium-sized businesses opens up a new avenue to growth [...]
Walmart backed Indian e-commerce site Flipkart looks to raise $3bn ahead of IPO June 7, 2021 Indian e-commerce giant Flipkart, which is controlled by Walmart, is looking to raise $3bn from SoftBank and other investors as the e-commerce market swells. Targeting a valuation of an eyewatering £40bn, Flipkart will also rally several sovereign wealth funds, Bloomberg first reported. According to one of the sources involved in the private discussions, who opted [...]
Neumann’s WeWork exit package increases with $245m in potential stock May 28, 2021 Former WeWork boss Adam Neumann is set to emerge from his separation with the company with an extra stock award worth $245m. Neumann has also received almost $200m in cash after renegotiating the terms of his 2019 exit agreement. The shares come on top of an already generous package for Neumann, who gave up his [...]
Contentsquare secures $2.8bn price tag after Softbank-led funding round May 26, 2021 Data analytics platform Contentsquare has secured a valuation of $2.8bn (£1.9bn) following a funding round led by Japanese investment giant Softbank. The digital experience firm, which helps companies understand how people interact on their website or app, nabbed the price tag after raising $500m in a Series E round. The cash injection was led by [...]
WeWork posts £1.45bn loss ahead of stock market debut May 21, 2021 WeWork today posted a £1.45bn first quarter loss as the office-sharing startup prepares for its stock market debut. The company, which is backed by Japanese tech giant SoftBank, said its quarterly revenue almost halved from a year ago to $598m. WeWork had originally attempted to go public in 2019, but the move collapsed over concerns [...]
Softbank ‘mulls $300bn Spac listing’ for Vision Fund May 17, 2021 Softbank is reportedly weighing up a $300bn (£212bn) blank-cheque deal to take its tech-focused Vision Fund public. The Japanese conglomerate is said to be discussing plans to raise capital through a special purpose acquisition company (Spac) deal on the Amsterdam stock exchange later this year. It is planning to seek around €250bn from the listing, [...]