SoftBank News

After Year’s Best IPO, Lemonade Insider Selling Lockup Expiration May Pressure Stock

The best-performing listing of 2020 is poised to enter the new year with extra volatility after insider selling restrictions expire this week. Insurance provider Lemonade Inc. is trading more than 350% above its July 1 initial public offering price, the …

WeWork Directors Move to Protect Right to Sue Owner SoftBank Over Nixed Tender Offer

A special committee of WeWork board members filed a motion in Delaware on Monday to prevent it from being disbanded, as it pursues legal action against majority owner SoftBank Group Corp. over an abandoned $3 billion tender offer for the …

Singapore Ride-Hailing Firm Grab Eyes Spin-Off of Financial Services Unit: Sources

Singapore-based ride-hailing company Grab has mandated a few banks to approach potential investors to take minority stakes in its financial services business as it looks to spin off the unit, according to two people familiar with the matter. Grab has …

SoftBank’s Maneuvers Reflect Expanded U.S. Scrutiny of Foreign Investors

SoftBank Group Corp. has agreed to give up board seats and access to sensitive information, take a more passive role in startups and make other concessions to get government clearance for its technology deals in the United States. These maneuvers …

SoftBank, Alibaba Lead $1.1B Investment in Indonesia E-Commerce Firm Tokopedia

SoftBank Vision Fund and Alibaba Group Holding Ltd. led a $1.1 billion investment in PT Tokopedia, a financing round that will help Indonesia’s biggest online marketplace venture beyond e-commerce into new areas such as air tickets and insurance. The company …

Update: Swiss Re Weighs Investment in Chinese Insurer Anbang, Say Sources

China’s attempts to find new investors for Anbang Insurance Group Co. are gathering pace, as Cerberus Capital Management LP to Swiss Re AG size up the embattled insurer and its overseas operations. Cerberus and Swiss Re are among parties that …

Softbank Plans Big Push into Insurance Investments

Softbank’s Vision Fund plans to pump more money into insurance, a sector it sees as both ripe for disruption and a potential booster for its bigger bets in cars, health and financial services, a Vision Fund executive told Reuters. In …

Google Partners with Indian Banks to Attract Users to Its Digital Payments Services

Alphabet Inc’s Google said on Tuesday it is partnering with a handful of Indian banks to bring quick loans to the masses, as it aims to woo tens of millions of new internet users in the country to its digital …

Berkshire Invests $356M in One97, Parent of India’s Biggest Digital Payments Firm

Berkshire Hathaway Inc has acquired a 25 billion rupees ($356 million) stake in the parent of digital payments company Paytm, a source said, its first investment in an Indian startup as it moves into the financial payments sector. The conglomerate …

China’s Online Insurer ZhongAn to Get Investment from SoftBank for Overseas Growth

ZhongAn Online P&C Insurance Co. Ltd., the first internet-only insurer in China, announced its subsidiary ZhongAn International will receive a strategic investment from SoftBank Vision Fund, which will support the growth of ZhongAn’s technology solutions businesses outside China. The amount …