SoftBank Vision Fund records $17.7B loss in the last fiscal year after writing down investments including WeWork and Uber, reports a net loss of $8.96B
SoftBank Group Corp. said its Vision Fund business lost 1.9 trillion yen ($17.7 billion) last fiscal year after writing down the value of investments …
Bloomberg Pavel Alpeyev
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Discussion
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@willjordan
Will Jordan
on x
It must take great and unparalleled vision to lose 18 billion. https://twitter.com/...
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@aaronwall
Aaron Wall
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https://www.bloomberg.com/... “The situation is exceedingly difficult,” Son said at a briefing discussing the results on Monday. “Our unicorns have fallen into this sudden coronavirus ravine. But some of them will use this crisis to grow wings.”
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@reutersbiz
@reutersbiz
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WATCH: Japan's SoftBank reported a $18 billion loss at its giant Vision Fund, highlighting the deepening crisis at its portfolio companies from the global downturn https://www.reuters.com/... https://twitter.com/...
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@vusithembekwayo
Vusi Thembekwayo
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The story of more than a few VCs right now: Portfolio write downs off the back of overheated valuations & Coronavirus impact. And talks of an L-shaped recovery aren't helping sentiment.👉🏾 #SoftBank Vision Fund Posts $17.7 Billion Loss on #WeWork , #Uber https://www.bloomberg.com/…
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@tculpan
Tim Culpan
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SoftBank Invested: $10.3 billion into WeWork Now Worth: $2.4 billion.
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@tculpan
Tim Culpan
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SoftBank Vision Fund posted unrealized losses of $10.4 billion during the March quarter, and WeWork was just the tip of the iceberg. Uber: -$405 mln WeWork: -$1,065 mln Others: -$8,982 mln TOTAL: -$10,452 mln
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@glcarlstrom
Gregg Carlstrom
on x
The Saudi-backed Vision Fund lost $18bn last year, contributing to SoftBank's worst-ever annual loss. Uber's IPO was disappointing, WeWork was a disaster, and now the pandemic will probably clobber some of the fund's other investments. https://www.bloomberg.com/...