COUPANG INC
SoftBank sells off Vision Fund assets as Son pivots to AI, chips
SoftBank is shifting focus to AI and semiconductors, while its Vision Fund is selling stakes or writing down billions of dollars worth of its publicly-listed companies. SoftBank founder Masayoshi Son is looking to bankroll a $100-billion chip venture to compete with Nvidia for providing semiconductors to power the development of AI services.
SoftBank may turn profit after $48 billion in Vision Fund losses
SoftBank Group Corp.’s Vision Fund is likely to return to profitability after five quarters of losses, thanks to an artificial-intelligence-fueled rebound that’s lifting startup valuations.
SoftBank posts $7.18 billion annual loss as Vision Fund slides further
Japan's SoftBank Group Corp reported an annual net loss of 970 billion yen ($7.18 billion) for the year ended March 31, with the Vision Fund unit posting a quarterly investment loss due to weakness in tech valuations.
SoftBank CEO Masayoshi Son to skip earnings call for first time as tech slumps
The founder and chief executive of the world’s largest tech investor bade farewell in November to the earnings presentations he’s led for decades, saying he was going to focus on taking chip designer Arm Ltd. public.
SoftBank plans Vision Fund staff cuts of at least 20%
Son, who turned 65 in August, has been taking on increasing responsibility at the company he founded 40 years ago. Chief Operating Officer Marcelo Claure left earlier this year, while former Chief Strategy Officer Katsunori Sago resigned in 2021.
Masayoshi Son is now down $4 billion on his SoftBank side deals
Son has racked up a deficit of $2.1 billion from his Vision Fund 2 interest, and $205 million at the Latam fund, according to disclosures for the June quarter. His cumulative loss at SB Northstar is 274.6 billion yen ($2 billion). The amount Son owes SoftBank from his interests in Vision Fund 2 and the Latam fund rose about $1.9 billion in the last quarter.
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Vision Fund slide points to more pain for SoftBank's Son
SoftBank has been reliant on its large and liquid stake in e-commerce firm Alibaba Group Holding Ltd for financing. The group has now raised as much as $22 billion using the shares, the Financial Times estimated.
SoftBank's Masayoshi Son faces shareholders shaken by $34-billion loss
But five years of deploying $142 billion has now resulted in a record 2.1 trillion yen ($15.4 billion) loss for SoftBank in the quarter ended in March
SoftBank executive pay slashed after historic Vision Fund loss
SoftBank’s founder and chief executive officer (CEO) Masayoshi Son kept his pay unchanged at 100 million yen (roughly $785,000), however four of the top six executives saw their compensation drop following a record $20.5 billion loss.
SoftBank group posts $13 billion in losses amid tech sell-off
The slump is casting a shadow on founder and chief executive officer (CEO) Masayoshi Son's strategy of heavy concentration in high-growth stocks increasingly out of favour with investors as interest rates rise.
SoftBank faces record loss as Masayoshi Son's bets tumble again
The world’s largest tech fund is estimated to have lost about $18.6 billion on its public portfolio alone during the quarter ended Mar. 31, even greater than the record $18.3 billion drop marked in the fiscal second quarter, according to Kirk Boodry, an analyst at Redex Research who publishes on SmartKarma.
Amid Share price Instability, SoftBank's Alibaba shareholding is under focus
Many of the conglomerate's technology firms have dropped in value in the last year.
SoftBank founder Masayoshi Son loses $25 billion in tech's brutal winter
From China’s tech crackdown to Russia’s invasion of Ukraine, inflation to the markets, a litany of troubles has beset Masayoshi Son and his conglomerate.
Record bond sale from SoftBank to test demand after risks surged
Billionaire Masayoshi Son’s technology conglomerate is marketing 550 billion yen ($4.8 billion) of seven-year subordinated notes, and the proceeds will be used to repay debt.
Superlatives abound in 26% S&P rally in 2021
The most all-time highs in 26 years. Triple-digit rallies in some small caps thanks to retail-trader frenzies. A $1 trillion rout after China cracked down on some of its biggest companies. In a year marked by a waning pandemic, new Covid variants, supply chain disruptions and a fits-and-starts US economic recovery, the S&P 500 smashed old records en route to a 26% gain and the creation of $8.6 trillion in value.
Record IPO binge in 2021 leaves investors hung over
Companies ranging from technology start-ups to blank-check acquisition firms flooded the market with offerings, capitalizing on investors' willingness to place speculative bets as low interest rates and the re-opening of economies thanks to COVID-19 vaccines fueled their appetite for risk.
SoftBank may invest $10 billion in Indian startups in 2022
India has been a bright spot for SoftBank, whose Vision Fund reported a record loss of $7.2 billion for the quarter ended in September.
SoftBank Vision Fund sells $2 billion of DoorDash shares
SoftBank Group CEO Masayoshi Son has tapped his shareholdings in DoorDash Inc. for the third time in just six months, selling $2 billion worth of SoftBank’s stake in the US-based food delivery company.
SoftBank's Vision Fund posts $2 bn profit, share weakness casts shadow
The Japanese conglomerate posted record annual profit in May with executives pointing to further upside from Vision Fund investments such as Chinese ride-hailing firm Didi Global Inc and "Uber for trucks" startup Full Truck Alliance Co Ltd.
SoftBank reports $37 billion Vision Fund profit on Coupang
SoftBank Group has clocked a net profit of 4.99 trillion yen in the year ended March. That compares with an 962 billion yen loss a year earlier after teetering tech bets depressed the value of its portfolio.
Paid in India
In today's ETtech Evening Briefing: Coupang's IPO and listing a shot in the arm for SoftBank; Nazara Technologies to launch India's first gaming IPO, but investor Rakesh Jhunjhunwala isn't selling stake; and Amazon Pay gets Rs 225 crore more.
SoftBank reaps $33 billion Coupang windfall
Shares of Coupang opened 81% above their offer price on Thursday, after the company raised $4.6 billion in the US stock market's biggest initial public offering this year.
S&P 500, Dow end at record highs after upbeat jobless claims data
Mega-cap stocks Microsoft Corp, Apple Inc, Facebook Inc and Amazon.com Inc led the rally, recouping losses from a recent pullback and helping the benchmark S&P 500 surpass its Feb. 12 close of 3,934.83.
Coupang surges to over $100 billion valuation after $4.6 billion IPO
Coupang share price soared 81% to open at $63.50 apiece on the NYSE. This after South Korea's largest e-commerce firm sold 130 million shares at $35 apiece in the biggest US IPO so far this year.
Coupang raises $4.6 billion in biggest US IPO so far this year
Coupang had priced 130 million shares sold in the IPO at $35 apiece, higher than the marketing range $32-$34 per share, giving the Seoul-headquartered e-commerce giant a market cap of $60 billion.
View: Can Masa Son outshine SPAC superstar Chamath Palihapitiya?
SoftBank managed to raise only $600 million last year in the US SPAC boom. Chamath Palihapitiya, a venture capitalist and social influencer, raised $2.1 billion in one October day alone.
SoftBank returns to profit after record losses
Masayoshi Son has pulled off a remarkably speedy comeback after the worst loss in his company’s 39-year history.
Son’s SoftBank poised to return to profit after big losses
SoftBank uses a number of approaches to value its stakes in private companies, including taking cues from their latest financing rounds and the valuations of publicly traded rivals.
SoftBank needs a different IPO after WeWork slip
SoftBank, like most pre-IPO investors, is generally locked in and can’t cash out that profit for at least a year.
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