Sunday, 27 November, 2022
TopicSoftbank

Topic: Softbank

SoftBank Vision Fund’s Munish Varma resigns from Paytm board

Varma resigned on 14 March due to 'personal commitments and other pre-occupations,' Paytm said. Varma also quit from the board of PB Fintech the same day.

India’s used car website Cars24 raises $450 mn from SoftBank, Tencent, others

The round values Cars24 at $1.84 billion, almost doubling from the end of last year. It’s starting conversations about an IPO and aims to go public in 18 to 24 months.

Microsoft invests $5 million in Oyo to develop AI-driven hotel technologies

Oyo carries a valuation of $9.6 billion after Microsoft's investment, third in the country behind Byju’s and Paytm. The startup is due to file IPO documents in the coming weeks.

Cars24 to raise $350 mn from SoftBank, others, aims for IPO

The fundraising would value India’s biggest online marketplace for used automobiles at close to $2 billion. It plans to go public in 18 to 24 months.

Mindtickle, funded by Softbank, is the latest unicorn in India’s fast growing tech industry

Mindtickle, based in Pune and San Francisco, hit a valuation of $1.2 billion. It provides what it calls sales readiness technology that companies can customise with their own content and data.

Lenskart raises $220 million as India’s tech industry mints more unicorns than ever before

Valued at $2.5 billion, according to founder Peyush Bansal, Lenskart plans to use the capital to expand online sales and add brick-and-mortar stores in India, Southeast Asia and the Middle East.

‘Absolutely untrue’ – Oyo’s Ritesh Agarwarl denies bankruptcy claim after Rs 16 lakh claim

Oyo, one of the larger startups in the SoftBank Group’s portfolio, was struggling to restructure and whittle down loss-making operations even before the pandemic obliterated travel.

After Byju’s, Unacademy scores big, gets $150 million funding at $1.45 billion valuation

Bangalore-based Unacademy has made a mark for itself in test preparation by offering lessons on everything from civil service and banking to programming languages.

Oyo is in trouble in Japan but parent SoftBank has a plan to fix it

Oyo Japan is creating a six-member management oversight panel to deal with its virus-stricken business. Its headcount has shrunk by 450 since October.

How 2019 saw Masayoshi Son go from tech guru to struggling venture capitalist

SoftBank’s bad year goes well beyond WeWork as investors are starting to get the feeling that whatever Masayoshi Son brings to the public is troubled.

On Camera

YourTurn

Representative image | Pixabay

Apple revolutionised smartwatch. Then came the budget wave and more—AmazFit, Fitbit to Samsung

The Fitbit Versa 4 and Sense 2 are good options for fitness fiends who want a smartwatch for fitness tracking only, while Garmin is great for extreme sports enthusiasts.
Representative image | Reuters

GameFi is revolutionising global NFT market. Here’s how crypto regulations could shape it

GameFi is the intersection of gaming and finance in an environment driven by use of blockchain, non-fungible tokens and smart contracts.

Defence

Illustration: Soham Sen | The Print

Modi govt moves with Arunachal Frontier Highway, among India’s ‘toughest’ projects yet, China in mind

The 2,000 km-long highway will be of strategic importance to military. Same equipment used on other side of LAC being deployed to carry out work on tough terrain, say officials.

A Gujarat gamble: A likely reason Rahul is not giving Modi a fight this assembly election

I'd rather not buy idea that Rahul's holding his fire until 2024. More likely, Congress believes Karnataka offers best chance of winning a Gujarat-sized state if Gujarat is too challenging.