SoftBank Group Corp leader Masayoshi Son has much bigger ambitions for transport...
- SoftBank Group Corp leader Masayoshi Son has much bigger ambitions for transportation than simply seeing his investment in Uber Technologies Inc turn into more than $13 billion when the company goes public next month.
Uber’s planned initial public stock offering in May is expected to value the company at $90 billion to $100 billion, representing a potential windfall to SoftBank, which put $8 billion into Uber for a 15 percent stake in January 2018. The rising value of that investment will further supercharge Son’s growing clout in the sector, and eventually provide him with additional capital to invest in mobility.
Son has been working since 2014 to weave together a tapestry of diverse transportation bets. His deep portfolio of investments range literally from A to Z: From Arm, a British semiconductor maker that Son acquired in 2016 for $32 billion, to Zume Pizza, a Silicon Valley startup that aims to automate pizza delivery and raised $375 million last year from SoftBank.
Son “is the true emperor of future mobility,” said Tom De Vleesschauwer, senior director of long-term planning and sustainability at IHS Automotive. That collaboration is expected to enable some SoftBank companies to become “superapps,” or applications where customers go for a range of services, such as transportation, shopping and payments. Such companies can be much more lucrative than those that offer just one core business or service.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the $100,000 Lincoln Navigator Black LabelA short tour of some of the features that make the new Lincoln Navigator Black Label such an expensive vehicle.
Read more »
Freeing 21 Savage: Inside The Effort That Got A Rapper Released From ICE Detention“I really appreciate all of the coalition coming together on my behalf to fight for me,” 21 Savage tells Forbes via electronic message. “It's rare to meet people who don't want anything from you, other than to help you.”
Read more »
Inside the (semi-)secret society for young Trump staffersFor members of "the Team," the 45 Club offers refuge in a hostile capital.
Read more »
Inside Business Insider's new London office in the heart of ShoreditchInsider Inc. recently moved to brand new office in London’s creative and startup district Shoreditch.
Read more »
An exclusive look inside Russia's Arctic military baseThe Russian military says it has built 475 military sites in the past six years. CNN visited one of its newest -- a base above the Arctic Circle, in an area that's quickly becoming a geopolitical hotspot
Read more »
Republicans confront Trump amid cascading controversiesGOP senators face an inflection point, as they weigh how hard to try to contain the president.
Read more »
From Doug Flutie to Kyler Murray: Inside the NFL’s newfound embrace of short quarterbacks30 years ago, a 5-foot-10 Heisman winner was relegated to Canada. This year, another could go first overall.
Read more »
Freeing 21 Savage: Inside The Effort That Got A Rapper Released From ICE Detention“I really appreciate all of the coalition coming together on my behalf to fight for me,” 21 Savage tells Forbes via electronic message. “It's rare to meet people who don't want anything from you, other than to help you.”
Read more »
Inside Trump’s ‘truly bizarre’ visit to Mt. VernonThe 45th president — no student of history — marveled at the first president's failure to name his historic compound after himself.
Read more »