Related:As per a statement by SoftBank, the deal is to close by January 2018. They expressed their confidence in the transport tech company regarding its innovative contributions to its own field. Although, Uber hasn’t been having a smooth run this year with scandals leading to co-founder Travis Kalanick leaving his CEO role, along with data breach and lawsuits. This all naturally led the company to agree upon the reduced deal. Uber revealed its target of 2019 IPO even though it loses billions of dollars per 4 months. SoftBank’s investments are certainly to make way for the accomplishment. SoftBank, on the other hand, seems to have its hands full with obligations to provide liquidity to employees and investors alongside its stock in Uber. [easy-subscribe design="design3"] At the same time, SoftBank gets to soften its way to expand on the ride-hailing profile that’s growing gradually. It invests in Didi Chuxing of China, Uber rival Ola of India and Grab from Southeast Asia. An interesting connection between SoftBank and Uber is that Dara Khosrowshahi (who replaced Kalanick as Uber's CEO) is a board member of Fanatics that are also backed by SoftBank. Khosrowshahi is so far known to be dedicated to improving Uber’s status in the market since he took office in October.
India Coronavirus Cases Update 145,380 Total 4,167 (2.9%) Deaths 60,491 (41.6%) Recovered
26 May 2020, 10:23 AM (GMT)