Saturday, 29 January, 2022
TopicSoftbank

Topic: Softbank

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.

With Masayoshi Son joining tech investing, Silicon Valley revives belief in profits

More than anyone else, Masayoshi Son is responsible for the recent hyperinflation of startup valuations and founders’ egos.

On Camera

YourTurn

Apple needs to break out of its comfort zone with bold mega deals à la Microsoft

Historically, large M&A hasn’t been Apple’s style. However, with its resources, the company can certainly take the risk to transform its business and expand its capabilities.
V. Anantha Nageswaran

Who is V Anantha Nageswaran, new chief economic advisor? IIM-A grad, academic, PM’s ex-advisor

Nageswaran, who has taught at various B-schools in India and Singapore, takes charge days before the tabling of the Economic Survey and the Union Budget.

Defence

Representational image of Indian Navy ships | Photo: Commons

India carrying out more warship patrols than ever to catch China in crowded global seas

Estimated 125 foreign naval vessels are in the Indian Ocean at any given time, roughly 3 times the number deployed in the wake of the 9/11 attacks when the US invaded Afghanistan.

Modi vs non-BJP CMs: When most popular isn’t all-powerful & why Centre-state ties will worsen

Modi’s inability to win many states, and the huge popularity his rivals enjoy there, is pushing Indian politics in a more robustly federal direction.
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