Investment News for the Week.
According to the Latest Financial Updates This happened for the first time in the 39-year history of Japanese investment firm SoftBank.
Softbank lost more than 1.25 lack crores by investing in companies like WeWork and Uber as mentioned in the latest financial update by the Group. The SoftBank group is caught in a major sign of the epidemic. There was a loss of 1 lack 25 thousand crores in the year of his vision fund business, which was prepared for investment in startups.
Soft bank founder Masayoshi Son said that unicorn startups due to the Corona virus have fallen into a crisis. But still hope that some of these startups will stand again. Vision Fund has lost $ 520 million due to the fall in Uber shares, the same has been caused by $ 400 million from WeWork and $ 450 million from other investments.
Losses have also been reported from Indian startups Unicorn. OYO.
Soft Bank invested about $ 150 million in OYO. Apart from OYO, Soft Bank has invested in companies and startups such as Flipkart, Ola, Paytm, Snapdeal in Mobi.
Alibaba founder Jack Ma of China's e-commerce company has resigned from the board of SoftBank Group. Jack Ma joined the group for 13 years.
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