Tag: Vision Fund
SoftBank-backed construction giant Katerra said to be shutting down after raising billions
After burning through more than $2 billion in funding, SoftBank-backed construction startup Katerra has told employees that it will be shutting down operations, according to a report in The Information. Last year, the company claimed it had more than 8,000 employees globally. Menlo Park-based Katerra had already been struggling to…
Read More
Coupang follows Roblox to a strong first day of trading
Another day brings another pubic debut of a multibillion dollar company that performed well out of the gate. This time it’s Coupang, whose shares are currently up just over 46% to more than $51 after pricing at $35, $1 above the South Korean e-commerce giant’s IPO price range. Raising one’s…
Read More
Google-backed Chinese truck-hailing firm Manbang raises $1.7 billion
The Chinese Uber for trucks Manbang announced Tuesday that it has raised $1.7 billion in its latest funding round, two years after it hauled in $1.9 billion from investors including SoftBank Group and Alphabet Inc’s venture capital fund CapitalG. The news came fresh off a Wall Street Journal report two…
Read More
The VC and founder winners of DoorDash’s IPO
After years of rumors and high-flying headlines, we finally have the S-1 for DoorDash. Alex has covered the primary details, but I figured it would be good to dive in so we can see who is raking in the returns on the country’s delivery startup champion. DoorDash’s filing indicates that…
Read More
China Roundup: SoftBank leads Didi’s $500M round and Meituan crosses $100B valuation
Hello and welcome back to TechCrunch’s China Roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people in the rest of the world. Last week, we had a barrage of news ranging from SoftBank’s latest bet on China’s autonomous driving sector to Chinese…
Read More
SoftBank pours $500M into Didi in China’s biggest autonomous driving round
The race to automate vehicles on China’s roads is heating up. Didi, the Uber of China, announced this week an outsized investment of over $500 million in its freshly minted autonomous driving subsidiary. Placing the bet — the single largest fundraising round in China’s autonomous driving sector — is its…
Read More