SoftBank confirms that Benchmark and Menlo will be selling Uber shares

 SoftBank Group has confirmed that it has found sellers for the tender offer for Uber’s shares, which launched tonight. These are the shares from existing shareholders that will be sold at more than a 30% discount to Uber’s last private round.  The Japanese investment firm provided us with the following statement. “SoftBank and Dragoneer have received indications from… Read More

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SoftBank makes offer for Uber shares at 30% discount

 A SoftBank Group-led team of investors has made an offer to buy Uber’s shares in a tender offer that would value the company at about a 30% discount to Uber’s last private valuation of nearly $70 billion, a source with knowledge of the proposed deal tells TechCrunch. We’re hearing that the proposed price per share is $32.96, which works out to under $50 billion. Bloomberg… Read More

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Crunch Report | Apple could give us a bigger iPhone X, Lyft goes to Canada

 Today’s Stories  Apple could give us a bigger iPhone X next year
Lyft heads to Toronto, Canada in December, the first city outside the United States
SoftBank might not do the deal with Uber after all Credits
Written by: Sarah Buhr
Hosted by: Sarah Buhr
Filmed by: Joe Zolnoski
Edited by: John Murillo Notes: Tito’s continues his journey out in the Outback this week so… Read More

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SoftBank could still walk away from Uber

 Uber said Sunday that it agreed to move forward on a proposed investment from SoftBank Group. But SoftBank Investment Advisors sent a statement to reporters on Monday on behalf of CEO Rajeev Misra, emphasizing that it could still walk away. “After a long and arduous process of several months it looks like Uber and its shareholders have agreed to commence with a tender process and… Read More

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Uber confirms it’s reached agreement with SoftBank for potential multi-billion dollar investment

 The paperwork’s done! The long-anticipated SoftBank Group investment into Uber has been agreed upon, a spokesperson confirms to TechCrunch. We’ve been provided the following statement. “We’ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment. We believe this agreement is a strong vote of confidence in Uber’s… Read More

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SoftBank looks to finalize Uber investment today

 After months of talks, SoftBank Group is close to finalizing its investment in Uber. Multiple sources tell TechCrunch that the deal is expected to be signed later in the day on Sunday. SoftBank plans to lead a $1 billion investment directly in the company alongside Dragoneer Investment Group. The joint venture will also buy up to $9 billion of shares from eligible existing shareholders in a… Read More

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Uber CEO says 2019 is the target for IPO

 Uber CEO Dara Khosrowshahi was on stage at the New York Times’ Dealbook conference today, and the ride hailing company’s top executive put a timeline on Uber’s plans for going public. Khosrowshahi, who took over as CEO after founder Travis Kalanick stepped down earlier this year, said early on that an IPO for Uber was part of his plans, and that it would happen in the next 18… Read More

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SoftBank increasing Sprint stake after T-Mobile deal called off

 The proposed tie-up between two American telecom giants was formally called off this weekend. Sprint and T-Mobile had been negotiations for months but ultimately decided not to go forward with a deal. “The companies were unable to find mutually agreeable terms,” the businesses announced in a joint press release Saturday. Last week, reports suggested that the deal was on the verge… Read More

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The deal that never was: OYO says it didn’t acquire rival ZO Rooms after all

 There’s closure around one of the most curious tech deals out of India in recent times, but it isn’t the conclusion most will expect.
OYO Rooms, the budget hotel network that raised $250 million in September from SoftBank’s Vision Fund and hotel giant China Lodging, confirmed today that it didn’t buy out close rival ZO Rooms despite plenty of evidence suggesting it… Read More

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