SOFTBANK RESULTS
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SoftBank to back AI startup Perplexity at $3 billion valuation
SoftBank's AI investments, especially in Perplexity AI at $3 billion, signify a strategic shift towards innovative technologies, including the 'answer engine' concept, amidst Masayoshi Son's ambitious AI vision.
![How Unacademy board tweaked targets for founders’ voting rights](https://img.etimg.com/thumb/msid-110571948,width-100,height-75,resizemode-4/tech/startups/unacademy-tweaks-terms-to-offer-its-founders-more-voting-rights.jpg)
How Unacademy board tweaked targets for founders’ voting rights
Edtech unicorn Unacademy has changed the target for its cofounders Gaurav Munjal and Hemesh Singh to access additional voting rights through bonus shares issued to them in 2022. Industry sources said this move throws light on Unacademy’s changing ambitions as well as the broader sluggishness in the startup funding ecosystem.
![Japan's Nikkei stumbles as Nvidia earnings results loom](https://img.etimg.com/thumb/msid-110326089,width-100,height-75,resizemode-4/markets/stocks/news/japans-nikkei-stumbles-as-nvidia-earnings-results-loom.jpg)
Japan's Nikkei stumbles as Nvidia earnings results loom
Japan's Nikkei share average fell 0.85% to 38,617.10 as investors awaited Nvidia's earnings, which will influence global stocks, including Wall Street and AI-related stocks. Chip stocks like Tokyo Electron and Advantest declined ahead of the results. The index previously hit a record intraday high and saw declines in Fast Retailing and Shin-Etsu Chemical.
![Japan's Nikkei retakes 39,000 level for first time since mid-April](https://img.etimg.com/thumb/msid-110264990,width-100,height-75,resizemode-4/markets/stocks/news/japans-nikkei-retakes-39000-level-for-first-time-since-mid-april.jpg)
Japan's Nikkei retakes 39,000 level for first time since mid-April
A milder inflation report last week has investors once again pricing in U.S. rate cuts as early as September, buoying global market sentiment and in turn boosting Japanese equities
![OYO withdraws DRHP, to refile IPO post refinancing: Sources](https://img.etimg.com/thumb/msid-110224832,width-100,height-75,resizemode-4/markets/ipos/fpos/oyo-withdraws-drhp-to-refile-ipo-post-refinancing-sources.jpg)
OYO withdraws DRHP, to refile IPO post refinancing: Sources
OYO IPO: Softbank-backed OYO is set to refile its much-awaited IPO as the global travel tech player is close to finalising its refinancing plans to raise up to USD 450 million via sale of dollar bonds, sources said.
![Zomato Q4 earnings; Blinkit edges closer to profitability](https://img.etimg.com/thumb/msid-110089120,width-100,height-75,resizemode-4/tech/newsletters/tech-top-5/zomato-q4-results-blinkit-edges-closer-to-profitability.jpg)
Zomato Q4 earnings; Blinkit edges closer to profitability
Food delivery major Zomato reported a lower-than-expected quarterly profit of Rs 175 crore on Monday. Details on this and more in today’s ETtech Top 5.
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SoftBank Q4 Results: Co swings to profit, eyes on Arm unit
Technology investor SoftBank Group swung to a net profit in the final quarter of its financial year, it said on Monday, as the Japanese giant focuses on artificial intelligence to help fuel a return to growth.
SoftBank seen returning to loss in Q4 despite tech stock strength
SoftBank Group anticipates losses despite Arm Holdings' success, with potential new growth investments. The soaring Arm share price, driven by AI, doesn't directly impact SoftBank's profit. Other listed assets showed mixed performance, influencing SoftBank's financial outlook.
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.
Japan's Nikkei closes at 3-week high on US rate-cut outlook, tech boost
U.S. stocks injected fresh momentum as markets priced in a higher chance of the Federal Reserve cutting interest rates this year. A U.S. jobs report on Friday showing growth slowed more than expected in April further fuelled buying.
Japan's Nikkei leaps to 2-week high on tech stocks, yen boost
Japan's Nikkei share average hit a more than two-week high on Thursday, as tech stocks followed their Wall Street peers higher and a weakening yen lifted overall sentiment.
RBI says Paytm’s non-compliance forced action; Zomato’s Q3 report card
Without naming a specific entity, RBI Governor Shaktikanta Das said the regulatory action was driven by a “lack of compliance”.
SoftBank posts $6.6 billion profit, first in five quarters
SoftBank Group on Thursday posted a net profit of 985.5 billion yen ($6.6 billion) in the October-December quarter, ending a streak of four consecutive quarters in the red, as the value of some investments gained ground.
House of Biryan to open 40 new locations in 18 months, says CEO Mohammed Bhol
House of Biryan plans an ambitious expansion with over 40 new locations in the next 18 months, fueled by a $1 million capital injection from private investors.
Byju’s versus BCCI; Nazara’s fundraise
The company noted that the case contained both law and fact, which could only be settled via arbitration. Counsel for the BCCI, however, denied any negotiations and sought more time to consult with the Board.
Meet Alex Clavel, a US dealmaker behind SoftBank's investing cleanup
After years of executive departures and soured bets, including a $16 billion investment in co-working space firm WeWork, 49-year-old Alex Clavel is Masayoshi Son's top lieutenant leading SoftBank's attempt at a turnaround.
More startups want to ‘flip’ back to India; SoftBank’s returns from listed firms
Startups are moving their overseas holding entities to India ahead of their forthcoming public listings, especially in the fintech sector which is governed by the country’s central bank regulations.
Cars24 saw its topline grow at lower pace
In FY23, Cars24’s operating revenue grew 7.7% year-on-year to Rs 5,535 crore. Compared to this, in FY22, the company’s revenue from operations had posted an on-year growth of 87% to Rs 5,136.5 crore.
Paytm's Q2 scorecard; Indian users log on to online festive sales
Fintech major Paytm narrowed its losses for the quarter ended September to Rs 291.7 crore compared with Rs 571 crore in the year-ago period. This and more in today’s ETtech Top 5.
Warburg Pincus in talks with SaaS startup Whatfix for new funding round, valuation may hit over $800 million
Warburg’s talks with Whatfix have been held at a valuation of around $800 million, but sources said the company is thinking of stretching it up to $1 billion based on its pace of growth amid a muted expansion in the SaaS industry.
SoftBank expected to sell Zomato shares for Rs 940 crore
SoftBank’s sale of Zomato shares follows the complete exit of the New York-based Tiger Global from the company. Tiger sold 1.44% stake, or 12.35 crore shares of the Zomato on Monday for Rs 1,124 crore.
Indian portfolio firms Swiggy, Lenskart, FirstCry, OfBusiness preparing to go public soon: SoftBank’s Navneet Govil
SoftBank's Vision Fund swung to a profit after six straight quarters of losses and said it will begin investing after a prolonged period of inactivity even as the Japanese group logged $3 billion in net loss.
SoftBank back in ‘offence’ mode, begins writing cheques again
SoftBank on Tuesday reported a surprise net loss of over $3 billion in the first quarter, hit by the double whammy of a drop in share prices of major holdings as well as a weaker yen.
Eruditus’ FY23 revenue jumps 63% to $400 million
Revenue rose to $400 million (around Rs 3,280 crore as per current exchange rates) in 2022-23 from $245 million the previous year, said Ashwin Damera. Eruditus follows a July-June fiscal year.
E-bike rental startup Yulu eyes expansion as it closes in on profitability
E-bike rental startup Yulu, which is looking to go public, expects to turn operationally profitable by September and plans to expand its presence in India and abroad, its chief executive said.
Singapore's Temasek cuts compensation for staff responsible for FTX investment
Temasek had said its cost of investment in FTX was 0.09% of its net portfolio value of S$403 billion ($304 billion) as of March 31, 2022, and that it currently had no direct exposure in cryptocurrencies.
Tencent offloads 2% stake in PB Fintech for Rs 562 crore
Tencent sold the shares for Rs 596.6 a piece, roughly 39% below PB Fintech’s IPO price of Rs 980. As per the latest transaction, Tencent's shareholding in PB Fintech has reduced to 6.28% from 8.37% (as of March 2023).
Masayoshi Son now owes SoftBank $5.2 billion on side deals
Masayoshi Son is now personally on the hook for about $5.2 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, after the Vision Fund venture capital arm capped a year of record losses.
SoftBank posts loss as Vision Fund stays in the red for fourth straight quarter
The Vision Fund's investment loss stood at 730.36 billion yen ($5.52 billion) in the latest quarter, on top of the combined loss of 7.3 trillion yen during the first nine months of 2022.
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