At under $30.70, where Uber closed on Tuesday, the stock is below the lowest point at which SoftBank invested. The Japanese conglomerate spent about $6.6 billion to buy just over 200 million shares from existing investors, including former CEO, at around $32.87 a piece. It provided another $1.05 billion in fresh capital to Uber, buying 21.45 million shares at about $48.77 each.
In total, SoftBank invested $7.65 billion. That stake, when factoring in the $245.3 million in shares SoftBank sold in the IPO, is currently worth less than $7 billion.for the three months ended June 30. The company recorded unrealized losses of 195.3 million yen for "the decrease in the fair values of investments in Uber and others."
The $100 billion Vision Fund held 81 investments at the time of that report with costs totaling $66.3 billion and a current fair value of $82.2 billion, SoftBank said. It highlighted, DoorDash and India's OYO as three investments that have increased in value.
As part of its investment, SoftBank was granted two board positions at Uber, which were slated to go to Marceo Claure, the company's operating chief and executive chairman of
Choi !!
Why did softbank throw money at Uber? Their investors forced them too? Or they're just awful at finance?
They should just cut their loses and sellout 👀
Wait til they do the math on their Compass investment 🤣📉💸🚽
me too
early cvs dumps on lately vcs
Those darn public markets with their “price discovery”!
Whos the smarty pants now? I remember thinking Kalanicks laughing the way he dumped his worthless bags of stock to these suckers and ran for the hills. Which founder sells out? One that knows it s a pomzi. And dont worry the $600mill aint coming back it gone for good.
Bruh moment
I used Uber when both my cars were down. Finally got the starter in my truck. Now I just have to fix my Beetle. loser
dresopeso
Every dog has his day, maybe just a bad day.
What is the opposite of the smartest guys in the room?
$600 million loss is going to feel like someone took a $5 bill from Softbank's wallet once the WeWork IPO hits. It is going to get a lot uglier. A lot.
wow that's a big number
They'll get a nice bailout when they dump WeWork on the public mkts
marc_laz Prepared to purchase $1 billion at $49 in a vain attempt to keep the charade going. Sold $250m at the IPO price even though it was 30-40% lower than they were touting. If this isn't worthy of investigation, I don't know what is. Clear market manipulation PumpAndDump
Don’t worry, Ponzi Fund II is gearing up to buy another slug at 100% premium.
Suze Orman says 'Dollar Cost Averaging' should be employed.
SoftBank looks at investments with a timeline of centuries - I don’t think they are worried - I’ve never seen a company with such a view to the long term