Crypto will be useful but Bitcoin is hard to understand, says SoftBank CEO

While the ongoing cryptocurrency bull run is boosting crypto adoption, some billionaire investors still find Bitcoin (BTC) to be something of a distraction.  Masayoshi Son, a billionaire technology entrepreneur and CEO of Japanese conglomerate SoftBank, claimed that he “doesn’t understand” Bitcoin amid the cryptocurrency breaking its three-year highs. Speaking at the New York Times DealBook conference, Son said that he found Bitcoin investment to be “distracting his own focus on his own business,” Business Insider reported on Nov. 19. Son said that he would spend about five minutes each day watching Bitcoin…

Tier Mobility Raised $250 Million in Series C Funding Led by SoftBank

With Tier continuously offering new products and options, this funding is geared to help support the firm as it hopes to emerge profitable despite the potential risks of the COVID-19 pandemic. German-based micro-mobility service provider Tier has raised a new $250 million in Series C funding led by Japanese multinational conglomerate holding company, SoftBank Group Corp (TYO: 9984). According to the press release from the company, the investment from SoftBank was made through Vision Fund 2 as well as its existing investors including Mubadala Capital, Northzone, Goodwater Capital, White Star…

SoftBank Group Set to Pay an Interim Dividend of 22 Yen per Share

SoftBank announced on Friday that its shareholders will receive an interim dividend of 22 yen per share. News outlet Reuters indicated that the company reached the decision after it underwent a series of asset sales that stabilized its finances. SoftBank Group Corp (TYO: 9984) has a market capitalization of around $131.64 billion. Its shares at the time of writing had a 52 week range of $12.20 and $34.54. Notably, during the coronavirus pandemic SoftBank shares rose approximately 56.45% year to date. In addition, they jumped approximately 10.56%, 15.02% in the past…

SoftBank Pours $215M in Gamified E-Learning Platform Kahoot

SoftBank acquired nearly 10% in the Norweigen ed-tech startup Kahoot that offers a gamified e-learning experience to users. The platform has seen massive growth in 2020 and plans to go public by the next year. With the coronavirus pandemic shutting schools and colleges across the world e-learning ed-tech platforms have gained huge momentum. On Tuesday, October 13, SoftBank made a $215 fresh investment in Oslo-based education startup Kahoot. Reportedly, SoftBank acquired a 9.7% stake in the company by buying 43 million news shares at $5 per share. Kahoot said that…

Nvidia Agrees to Buy Arm Holdings from SoftBank in $40 Billion Deal

Nvidia makes a strategic move to expand its footprint in the semiconductor market with its $40 billion deal of acquiring British semiconductor giant Arm Holdings. This merger will see NVIDIA’s AI computing capabilities combine with Arm’s CPU’s to create chips for next-generation technologies like IoT, robotics, self-driving cars, etc. America’s chipmaking giant Nvidia Corporation (NASDAQ: NVDA) is all set Arm Holdings from SoftBank Group Corp (OTCMKTS: SFTBY) in a deal price worth $40 billion. Headquartered in the United Kingdom, Arm Holdings specializes in offering design architectures for mobile phones. This…

SoftBank Shares Plunged 7%, Down 2% Now

The decline recorded in the tech stocks in the past week appears to have spiked fears amongst SoftBank’s investors. The shares of Japanese multinational conglomerate holding company SoftBank Group Corp (TYO: 9984) have plunged by about 7% amid upturned stock bets which unnerved the company’s investors. The conglomerate’s bets on equity derivatives pegged to listed technology companies have made the investors uncomfortable amid the incessant market decline. As reported, the Chief Executive of SoftBank Group Masayoshi Son has a wild risk appetite when as it relates to tech stocks and…

Walmart Wanted to Solely Own TikTok in U.S., Partnered with Alphabet, SoftBank

Before now, Walmart wanted to be sole owner of TikTok U.S., and also partnered with SoftBank and Alphabet for the acquisition. Walmart Inc (NYSE: WMT) has partnered with Microsoft Corporation (NASDAQ: MSFT) in a bid to own the U.S. operations of TikTok. The partnership comes after an initial and failed Walmart attempt to make the TikTok acquisition in partnership with Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) and SoftBank Group Corporation (OTCMKTS: SFTBY). Before now, the Trump administration accused the Chinese-owned video sharing app TikTok of threatening the U.S. national security.…

WeWork Gets New Commitment of $1.1 Billion from SoftBank

Embattled workspace sharing company WeWork has received a new commitment from Japanese multinational conglomerate SoftBank. WeWork recently got a $1.1 billion commitment from SoftBank Group Corporation (OTC: SFTBF). Following this, WeWork told employees that the company had slashed its burn rate by almost 50% from the end of 2019. Referring to the second-quarter earnings result, WeWork revealed how the persisting pandemic has affected business in an email to employees. However, the company is confident that its financial position is secure. In the email, the chief financial officer of WeWork Kimberly…

SoftBank Records Profit As Vision Fund Rebounds From Losses

Following an $18 billion loss in 2019, SoftBank Vision Fund added nearly 3 billion. The increase is turning SoftBank’s books around. SoftBank Group Corp (OTC: SFTBY) recorded a profit of almost $12 billion in the April-June quarter due to gains from its $100 billion Vision Fund. With this recent achievement, SoftBank is on the path of recovery after reporting its worst-ever loss in the previous quarter. SoftBank Reports Profit Earlier this year, SoftBank announced the largest annual loss of its kind in Japan, totaling $13 billion. This loss is coupled with…

SoftBank Loses Alibaba’s Jack Ma and Posts Worst Losses in History

Alibaba co-founder Jack Ma is stepping down from the board of Japanese tech giant and major blockchain backer SoftBank. After 13 years of close involvement with SoftBank, China’s richest man leaves the board amid SoftBank posting its worst operating losses in its history. According to a May 17 report by Japanese publication Nikkei, Ma’s departure announcement amid Softbank’s Vision Fund reporting record-breaking losses of 1.8 trillion yen ($16.7 billion). Softbank’s total annual losses accounted for 1.36 trillion yen ($12.7 billion) for the year ending March 31, the company reported. China’s…