Active Stocks
Fri Jun 14 2024 15:58:47
  1. HDFC Bank share price
  2. 1,597.45 1.05%
  1. State Bank Of India share price
  2. 840.20 -0.44%
  1. Tata Steel share price
  2. 183.05 0.30%
  1. ICICI Bank share price
  2. 1,105.10 -0.20%
  1. Kotak Mahindra Bank share price
  2. 1,717.00 -0.54%
Business News/ Companies / People/  SoftBank CEO says interested in investing in Uber, Lyft
BackBack

SoftBank CEO says interested in investing in Uber, Lyft

SoftBank Group CEO Masayoshi Son says he is interested in investing in Uber and Lyft but has not made a decision

Billionaire Masayoshi Son, chairman and CEO of SoftBank Group, gestures while speaking during a news conference in Tokyo, Japan, on Monday, on 7 August. Photo: Kiyoshi Ota/BloombergPremium
Billionaire Masayoshi Son, chairman and CEO of SoftBank Group, gestures while speaking during a news conference in Tokyo, Japan, on Monday, on 7 August. Photo: Kiyoshi Ota/Bloomberg

Tokyo: SoftBank Group Corp, a prolific investor in global technology start-ups, said it would be interested in parking funds in ride-hailing firms Uber Technologies or Lyft Inc in the future.

This is the first time Softbank has publicly indicated an interest in Uber, after having so far put funds into its rival Grab in Southeast Asia and China’s Didi Chuxing.

Last month, a media report said Uber shareholders and its board were mulling a stock sale to SoftBank and other investors.

“We are interested in discussing with Uber, we are also interested in discussing with Lyft, we have not decided which way," SoftBank’s CEO and founder Masayoshi Son said.

“Whether we decide to partner and invest into Uber or Lyft, I don’t know what will be the end result," he told reporters at SoftBank’s first-quarter earnings briefing on Monday.

SoftBank said its quarterly operating profit rose 50% from a year ago to 479 billion yen ($4.32 billion) after it included Vision Fund, the world’s largest private equity fund, as a new reportable segment and booked a 105 billion yen gain on its stake in graphics chip maker Nvidia. Reuters

3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 07 Aug 2017, 03:40 PM IST
Next Story footLogo
Recommended For You