Softbank Group Stock News

Juspay said it currently processes 11 million transactions per day - one of the highest daily rates in India.

Arun Padmanabhan / The Economic Times : Bengaluru-based Juspay, which unifies diverse payment options in its app, raises a $60M Series C at a $460M valuation led by SoftBank Vision Fund 2 The round also saw participation from existing investors VEF and Wellington Management. While SoftBank has put $50 million in this round

Counting Norwest''s fund, there were five funds of $3 billion or larger launched this year, including one from SoftBank Group Corp.

Uber said on Tuesday that it is looking to sell some of its stake in Chinese ride-hailing company Didi Global, since it is a non-strategic investment, according to Reuters. During a virtual fireside discussion with a UBS analyst, Uber CEO Dara Khosrowshahi said, "Our Didi stake we don''t believe is strategic. They''re a competitor, China is a pretty difficult environment with very little transparency". The CEO revealed that aside from Didi, the company was considering selling its stakes in what it considers non-strategic investments in other companies. Many of its shares in these companies will be sold, but for strategic reasons, it would continue to hold some shares, the CEO explained. Khosrowshahi said the company was in no rush to sell the shares. "Those kinds of stakes we look to monetize smartly over time," he said. Uber owns about 12% of Didi, making it the second-largest investor behind SoftBank. The US ride-hailing giant obtained its stake in 2016 after selling its Chinese business to Didi in exchange for equity in its rival.

Similar to North America''s Black Friday and China''s Double 11, India has its own end-of-year sales the Diwali festival. Diwali, or Deepavali, is a festival of lights popular among Hindus, Jains, Sikhs, and some Buddhists. As families prepared for the festival, their shopping interest fueled the growth of Diwali as a retail festival. This year, most of them have turned to Flipkart for online shopping. According to a recent Economic Times report, The Flipkart Group bagged a market share of around 60% during this year''s Diwali sales, citing data from PGA Labs. Meanwhile, Amazon India accounted for 32% of total sales. Ever since its foundation in 2007, Bangalore-based Flipkart has been a prominent player in India''s e-commerce scene, competing with Amazon''s India subsidiary and local rival Snapdeal, which focuses on low-tier markets. Flipkart initially focused on bookselling, acquiring companies like the digital distribution business Mime360.com and social book discovery service WeRead along the way.

This article was originally published on TipRanks.com Walmart (NYSE: WMT) backed Symbotic is poised to go public in merger a deal involving a Softbank … The post Walmart’s Backed Symbotic Eyeing Public Listing – Report appeared first on Smarter Analyst .

Symbotic, in which Cohen and his family have a 95% stake with employees owning the rest, is announcing today plans to go public in a $5.5 billion deal with a special purpose acquisition company (SPAC) sponsored by venture-capital giant SoftBank.

Symbotic LLC said Monday it agreed to be acquired by SoftBank Investment Advisers special purpose acquisition company SVF Investment Corp. 3 in a deal that values the artificial intelligence company in the logistics space at $5.5 billion. The transaction will result in Symbotic becoming a public company for trade on the Nasdaq under the symbol SYM. Symbotic will also raise $205 million in a common equity sale to private investors including $150 million from Walmart Inc.''s , a customer of Symbotic. Symbotic said it has a contracted order backlog of more than $5 billion and expects to generate $433 million in revenue in fiscal year 2022, up 73%. Yanni Pipilis, chairman and CEO of SVF Investment Corp. 3 and managing partner for SoftBank Investment Advisers, led the deal for the SPAC. The deal also includes $320 million of cash in trust from SVF Investment Corp. 3 as well as a $200 million forward purchase of common equity at $10 a share by SoftBank Vision Fund 2. Symbotic also expects to receive an additional $174 million in cash from Walmart by Dec. 31 as a result of Walmart gross exercising warrants it holds in the company.

TOKYO: Tokyo stocks closed higher on Monday as investors took heart from US rallies and digested the Bank of Japan''s key business confidence survey. The benchmark Nikkei 225 index advanced 0.71 percent, or 202.72 points, to end at 28,640.49, while the broader Topix index added 0.13 percent, or 2.65 points, to 1,978.13. According to the Bank of Japan''s latest quarterly Tankan business survey, major manufacturers remain cautious about the economy''s trajectory. The survey, released 10 minutes before the opening bell, showed business sentiment in Japan was flat for the quarter as pandemic concerns lingered. While rallies on Wall Street supported Japanese shares, some investors took a wait-and-see approach ahead of the US Federal Reserve''s meeting later this week, Okasan Online Securities said. The dollar fetched 113.52 yen in Asian trade, against 113.37 yen in New York on Friday. In Tokyo trading, Uniqlo operator Fast Retailing jumped 2.58 percent to 69,760 yen while SoftBank Group rose 0.

The Hong Kong Exchanges and Clearing is set to face even more headwinds, in addition to a Chinese regulatory crackdown, with the latest blacklisting of artificial intelligence firm SenseTime for its alleged enablement of human rights abuses against Muslim Uighurs in Xinjiang. Last week, the U.S. Treasury placed SenseTime on the blacklist for human rights abuse against Xinjiangs Muslim Uighurs which derailed the facial recognition technology firms listing plans in Hong Kong. After a «Financial Times» report of the expected blacklisting on Thursday, SenseTime did not proceed with a planned pricing of its shares in Hong Kong on Friday. In addition to denying the claims, calling them «unfounded» and reflective of a «fundamental misperception» of SenseTime, the firm will now delay its Hong Kong IPO which was scheduled for December 17, according to multiple media reports. SenseTime IPO SenseTimes original plan was to raise as much as $767 million as it sought a valuation of up to $17 billion.

Robotic Research, a Clarksburg, MD-based global leader in autonomous mobility and robotics solutions, raised $228m in Series A funding. Investors included SoftBank Vision Fund 2, Enlightenment Capital, Crescent Cove Advisors, Henry Crown and Company, and Luminar Technologies, Inc. The company intends to use the funds to drive further innovation and expansion of its commercial division, RR.AI, [] The post Robotic Research Raises $228M in Series A Funding appeared first on FinSMEs .

Atom Learning, an online learning platform for primary school children, has raised $25m funding in a Series A round led by SoftBank’s Vision Fund 2. It is Atom Learning’s first outside funding round and also the largest Series A funding round ever by a UK-based edtech startup. Atom Learning will use the investment to accelerate […] The post SoftBank backs AI-based edtech platform Atom Learning in $25m raise appeared first on UKTN (UK Tech News) .

This fall I completed the SoftBank Operator School, a series of master classes led by SoftBank Group executives and portfolio founders Continue reading on Medium »

Robotic Research is an autonomous technology company that says it''s tapping into self-driving applications so far untouched by Waymo, Cruise, Aurora and other

Even as used car e-commerce firms in India had a banner year in terms of funding announcements and more, some of the firms have also used the pandemic to make course corrections. CarTrade went public in August while three companies Spinny, CarDekho and Droom had checked into the coveted club of unicorns in 2021. While the funding boom in the sector brought in heavyweights like Tiger Global and SoftBank, major changes followed too. Continue reading Exclusive: Cars24 shuts down supply focused vertical in over 82 cities at Entrackr.