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Page 2 - Softbank

Arm Holdings to cancel licence agreement allowing Qualcomm to design chips

An Arm victory in the litigation could force Qualcomm and its roughly 20 partners, including Microsoft, to halt shipments of the new laptops

Arm Holdings to cancel licence agreement allowing Qualcomm to design chips
Updated On : 23 Oct 2024 | 3:24 PM IST

Japan's SoftBank to invest $500 mn in OpenAI's latest funding: Report

Apple reportedly dropped out of plans to participate in the large funding round, which currently values the artificial intelligence startup at $150 billion before the SoftBank investment

Japan's SoftBank to invest $500 mn in OpenAI's latest funding: Report
Updated On : 30 Sep 2024 | 9:42 PM IST

Meesho sees 65 mn unique visitors on Day 1 of festive sale; orders double

SoftBank-backed e-commerce platform Meesho on Saturday said it recorded about 6.5 crore unique visitors on its portal on Day 1 of the annual festive season 'Meesho Mega Blockbuster Sale'. Meesho Founder and CEO Vidit Aatrey said the company's app downloads reached around 1.5 crore ahead of the sale and the number of purchase orders has doubled on the first day of the sale on Friday as compared to that of the previous season. "By just 2 PM yesterday, we had already surpassed our previous best of highest orders placed on Day 1 previous year, and by the end of the day, that number had more than doubled. Around 6.5 crore unique customers visited the mobile app on Day 1," Aatrey said on a social media platform. According to a report by research firm Statista, the number of online shoppers was estimated to be about 25 crore across India in 2023 and it is likely to increase to 42.5 crore in 2027. Meesho claimed that the orders on Day 1 doubled compared to last year while it tripled compar

Meesho sees 65 mn unique visitors on Day 1 of festive sale; orders double
Updated On : 28 Sep 2024 | 7:45 PM IST

InMobi raises $100 mn debt financing from MARS Growth Capital: CEO Tewari

Softbank-backed consumer technology company InMobi on Wednesday said it has raised USD 100 million debt financing from MARS Growth Capital, a joint venture between MUFG and Liquidity Group. InMobi has plans to list in India and has started the necessary process. The company plans to use the funds for the development and deployment of InMobi's artificial intelligence (AI) technology and for potential AI-focused acquisitions. "We are pleased to have the confidence and funding from MARS Growth Capital to further accelerate our growth trajectory," Naveen Tewari, CEO of InMobi said. He said AI is the bedrock of both InMobi's consumer and enterprise businesses. "We are using it to power the revolutionary lock screen experiences and InMobi Advertising's platforms. We are reimagining how ads can be made truly native by driving superior engagement and outcomes for consumers, advertisers and publishers," Tewari said. MARS Growth Capital invests in future-ready AI platforms in Asia Pacific

InMobi raises $100 mn debt financing from MARS Growth Capital: CEO Tewari
Updated On : 11 Sep 2024 | 11:51 AM IST

SoftBank-backed OfBusiness plans up to $1 bn India IPO for H2 of 2025

The initial public offering is expected to total between $750 million and $1 billion, with about $200 million in new shares and the rest shares offered by existing shareholders to new investors

SoftBank-backed OfBusiness plans up to $1 bn India IPO for H2 of 2025
Updated On : 03 Sep 2024 | 11:33 PM IST

E-scooter maker Ola Electric valuations hit $7 bn; up 75% over IPO price

The latest jump in Ola's stock price comes after it launched a new line of motorcycles and on bets that it will lower costs by using its own batteries

E-scooter maker Ola Electric valuations hit $7 bn; up 75% over IPO price
Updated On : 16 Aug 2024 | 11:42 PM IST

Japan's SoftBank picking stock winners in India's red-hot IPO market

Further successful IPOs may add funds for Chief Executive Masayoshi Son's planned large-scale push into AI

Japan's SoftBank picking stock winners in India's red-hot IPO market
Updated On : 16 Aug 2024 | 12:02 PM IST

SoftBank VF1 reports $544 mn loss on Paytm exit, gains $65 mn on Zomato

The Japanese conglomerate recorded a $394 million gross gain from its $199 million investment in Policybazaar, and gain of $285 million on its $397 million investment in Zomato

SoftBank VF1 reports $544 mn loss on Paytm exit, gains $65 mn on Zomato
Updated On : 08 Aug 2024 | 2:23 PM IST

SoftBank to buyback $3.4 bn worth shares amid pressure from investors

It unveiled a plan to buy back up to 6.8 per cent of shares over the next 12 months, taking some of the sting out of an unexpected net loss for April-June

SoftBank to buyback $3.4 bn worth shares amid pressure from investors
Updated On : 07 Aug 2024 | 7:29 PM IST

Tech investor SoftBank buys back $3.4 billion shares to bolster stock price

SoftBank said that over the next year it would buy back up to 6.8% of its own shares, worth as much as 500 billion yen

Tech investor SoftBank buys back $3.4 billion shares to bolster stock price
Updated On : 07 Aug 2024 | 3:04 PM IST

Stock rout in Japan wipes out $15 bn of SoftBank Group Corp's value

The technology giant's stock fell 19 per cent, the worst performance since SoftBank listed on the Tokyo Stock Exchange in 1998

Stock rout in Japan wipes out $15 bn of SoftBank Group Corp's value
Updated On : 05 Aug 2024 | 11:43 PM IST

Meesho strengthens board with appointment of four independent directors

Meesho's new board members are expected to play a key role in advancing its strategic goals

Meesho strengthens board with appointment of four independent directors
Updated On : 02 Aug 2024 | 5:18 PM IST

SoftBank-backed Unicommerce sets IPO price band at Rs 102-108 per share

SoftBank-backed SaaS platform Unicommerce eSolutions Ltd on Thursday announced a price band of Rs 102 to Rs 108 crore a share for its Rs 276-crore Initial Public Offering (IPO). The company's maiden public issue will open for subscription on August 6 and conclude on August 8 and the bidding for the anchor portion will open for a day on August 5, the company announced. The issue is entirely an Offer for Sale (OFS) aggregating up to 2.56 crore equity shares valued at Rs 276.6 crore, at the upper end of the price band, by the selling shareholders. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders. Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, will offload 1.61 crore shares, and promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 94.38 lakh shares. Founded in 2012, Unicommerce eSolutions is India's leading e-commerce enablement software-as-a-service (SaaS) platform. The company's

SoftBank-backed Unicommerce sets IPO price band at Rs 102-108 per share
Updated On : 01 Aug 2024 | 10:58 AM IST
Updated On : 16 Jul 2024 | 11:21 PM IST

Softbank nominee likely to join Oyo board as non-executive director

IPO-bound unicorn OYO's parent firm Oravel Stays Ltd is set to appoint Sumer Juneja, Managing Partner and Head of EMEA & India Investing at SoftBank Vision Fund, as a non-executive director on its board, sources said. The appointment is subject to shareholders' approval to be sought at an Extraordinary General Meeting (EGM), according to information accessed by PTI. Sumer will join Oravel Stays' Board as a nominee director of Softbank. Sources, speaking on condition of anonymity, said the move signals SoftBank's bullish stance on OYO, in light of the company turning profitable. Travel tech platform OYO reported financial year 2023-24 as the maiden profitable fiscal year with net earnings of nearly Rs 100 crore, founder Ritesh Agarwal said in a post on microblogging site X, formerly Twitter, recently. "SoftBank is actively supporting OYO and showing renewed interest in its prospects. They want to provide impetus to the company's growth in international markets," said a person ...

Softbank nominee likely to join Oyo board as non-executive director
Updated On : 14 Jul 2024 | 4:52 PM IST

Softbank exits Paytm in June quarter at loss of around $150 mn: Report

Japan's Softbank investment arm Softbank Vision Fund exited from Paytm in the June quarter at a loss of around USD 150 million, sources aware of the development said. Softbank invested about USD 1.5 billion in One97 Communications -- the owner of Paytm brand -- in tranches in 2017. "Softbank has exited Paytm at a loss of 10-12 per cent. The total loss is around USD 150 million," one of the sources said. Softbank held around 18.5 per cent stake in Paytm before the company's initial public offering (IPO) in 2021. It held a 17.3 per cent stake through SVF India Holdings (Cayman) Ltd and 1.2 per cent through SVF Panther (Cayman) Ltd. SVF Panther sold its entire stake during the IPO for Rs 1,689 crore, about USD 225 million. "Softbank announced that it will exit Paytm in 24 months from the time of the IPO. The exit was in line with Softbank's plan. However, the company did anticipate loss at that time," another source said. Softbank had acquired Paytm shares at an average price of abo

Softbank exits Paytm in June quarter at loss of around $150 mn: Report
Updated On : 13 Jul 2024 | 7:21 PM IST

Former SoftBank managing partner Lydia Jett rejoins Flipkart's board

The Flipkart board also comprises HDFC chief executive Keki Mistry and senior Walmart executives

Former SoftBank managing partner Lydia Jett rejoins Flipkart's board
Updated On : 01 Jul 2024 | 10:09 PM IST

Sebi approves IPO plans of FirstCry, SoftBank-backed Unicommerce eSolutions

While FirstCry had refiled its DRHP, Unicommerce classified more entities as promoters for IPO approval

Sebi approves IPO plans of FirstCry, SoftBank-backed Unicommerce eSolutions
Updated On : 01 Jul 2024 | 6:29 PM IST

Ola Electric working on building solid-state batteries: Bhavish Aggarwal

Solid-state batteries are expected to offer improved safety, a longer lifespan and faster charging compared with conventional lithium-ion batteries that use flammable liquid electrolytes

Ola Electric working on building solid-state batteries: Bhavish Aggarwal
Updated On : 29 Jun 2024 | 8:04 PM IST

SoftBank signs indemnity clause over Unicommerce 'promoter' tag

Founders Kunal Bahl, Rohit Bansal enter into agreement to limit liabilities of Softbank

SoftBank signs indemnity clause over Unicommerce 'promoter' tag
Updated On : 24 Jun 2024 | 8:59 AM IST