SoftBank's multi-billion dollar investment in Uber introduces the potential of integrating other ride-hailing equity the Japanese conglomerate has acquired in a consolidation of an increasingly growing industry across the Asian region.
Uber claimed that a scheduled offer with a consortium driven by SoftBank and Dragoneer Investment Group is already in progress. The consortium intends to invest $1 billion to $1.25 billion into Uber, and acquire 17% of existing shares in a supplementary transaction.
SoftBank has likewise has been a major financier in Uber's rivals across Asia, including Southeast Asia's Grab, China's DiDi Chuxing, and India's Ola, as it tries to accomplish founder Masayoshi Son's dream of a future steered by Artificial Intelligence, machine learning and interconnected devices.
However, ride-hailing service providers have been battling fiercely throughout Asia to lure in more drivers and riders, with price cuts and promos that have steered-down earnings.
Valve Software doesn’t just distribute games and make digital hats. It also tracks how its Steam members interact with their software. Over the last several years, the company has looked at which controllers and gamepads players have connected to their PCs. Using that data, the company has some insights. For example, Steam has 783 registered […]