SoftBank to Invest $100 Million in Miami Area Companies
Bloomberg 1/28/2021 Jonathan Levin and Sarah McBride
(Bloomberg) SoftBank Group Corp. committed $100 million in funding for companies in the Miami area, bolstering a beach-side metropolis that has been aggressively courting the technology industry in recent months.
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The money will go toward businesses based in Miami or ones that are relocating to the region, said Marcelo Claure, the Miami-based chief operating officer at SoftBank. Claure introduced the pledge in an online video Thursday alongside Miami Mayor Francis Suarez. “People want to move here because they have the choice, and the next thing they need is capital,” Claure said.
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SoftBank Sells $2 Billion in Uber Stock as Rides Recover
Bloomberg 1/12/2021 Pavel Alpeyev and Takahiko Hyuga
(Bloomberg) SoftBank Group Corp.’s Vision Fund sold about $2 billion in Uber Technologies Inc. stock after a rally in the ride-hailing giant’s shares, signaling it may cash in more gains from the sector in the future.
An affiliate of the investment fund called SB Cayman 2 sold 38 million shares on Jan. 7 at an average price of $53.46, according to a filing with the U.S. Securities & Exchange Commission. SoftBank still holds about 184.2 million shares, according to the filing, worth about $10 billion at current prices.
SoftBank founder Masayoshi Son was an aggressive investor in the ride-hailing sector, taking major stakes in Uber, China’s Didi Chuxing, India’s Ola and Southeast Asia’s Grab. Those wagers looked in jeopardy when Uber stumbled after its 2019 initial public offering and the coronavirus pandemic slammed demand.