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  • SoftBank to cut workforce at Vision Fund units as Masayoshi Son turns cautious after record quarterly loss Aug 08, 2022 05:01 PM IST

    SoftBank to cut workforce at Vision Fund units as Masayoshi Son turns cautious after record quarterly loss

    While Son did not give any details on the headcount reduction, he said that it was imperative for the Japanese investment conglomerate to undertake layoffs in a bid to cut costs since the company reported big losses for two consecutive quarters.

  • SoftBank-backed OfBusiness defers IPO plans by 3 months on weak market cues Aug 08, 2022 01:21 PM IST

    SoftBank-backed OfBusiness defers IPO plans by 3 months on weak market cues

    CEO Asish Mohapatra also said the last round that OfBusiness raised in December 2021 was the company’s last private market fundraise

  • SoftBank posts $23 billion loss in June quarter as tech valuations continue to fall Aug 08, 2022 11:47 AM IST

    SoftBank posts $23 billion loss in June quarter as tech valuations continue to fall

    SoftBank’s Vision Fund investment unit, through which the Japanese conglomerate invests in companies, posted a net loss of as much as $23 billion hitting the companies profits for the quarter ended June

  • Rs 1 lakh crore worth of free-float to loom over markets in coming months Aug 06, 2022 05:59 PM IST

    Rs 1 lakh crore worth of free-float to loom over markets in coming months

    Pre-IPO shares will be released from their Sebi-mandated lock-in, said CNBC TV18’s Prashant Nair in Editors’ Roundtable

  • SoftBank, JP Morgan connect 10 unicorns mulling IPO in 3 years with mutual funds Aug 05, 2022 05:51 PM IST

    SoftBank, JP Morgan connect 10 unicorns mulling IPO in 3 years with mutual funds

    Mamaearth, Lenskart, Acko, Meesho, ElasticRun and InMobi also participated in the meeting held in Bengaluru on August 3 and 4.

  • Swiggy, Unacademy, Meesho founders meet top public market investors in Bengaluru Aug 05, 2022 03:05 PM IST

    Swiggy, Unacademy, Meesho founders meet top public market investors in Bengaluru

    The meeting comes at a time when many unicorns, over the last two years, had openly talked about getting publicly listed in the medium term

  • SoftBank talent drain worsens, adding pressure on Masayoshi son to deliver Aug 05, 2022 07:42 AM IST

    SoftBank talent drain worsens, adding pressure on Masayoshi son to deliver

    Two more managing partners at the company’s Vision Fund, Yanni Pipilis and Munish Varma, are leaving, Bloomberg News reported last week, bringing the number of top level departures from the world’s largest investment fund to at least 10 since March of 2020.

  • Exclusive | Unacademy suspends contracts of doubt-solving educators for 6 months in another cost-cutting move Aug 02, 2022 08:08 AM IST

    Exclusive | Unacademy suspends contracts of doubt-solving educators for 6 months in another cost-cutting move

    Unacademy told the educators that it has made 'strategic changes' to its customised learning solutions and owing to the change, it will 'significantly' reduce doubt solving on its platform.

  • SoftBank halts plans for Arm's London IPO Jul 19, 2022 08:11 AM IST

    SoftBank halts plans for Arm's London IPO

    The departures of investment minister Gerry Grimstone and digital minister Chris Philp, following the collapse of UK Prime Minister Boris Johnson's government earlier this month, have led SoftBank to pause discussions about Arm's UK listing next year, the FT reported, citing people briefed on the talks.

  • Unacademy to exercise internal migration for redundant employees: Gaurav Munjal Jul 12, 2022 05:19 PM IST

    Unacademy to exercise internal migration for redundant employees: Gaurav Munjal

    The company has laid off over 750 employees or about 12 percent of its workforce including educators and contractual employees since the start of 2022.

  • No free meals for employees, founders and management to take salary cuts: Unacademy's path to profitability Jul 11, 2022 04:26 PM IST

    No free meals for employees, founders and management to take salary cuts: Unacademy's path to profitability

    Employees, including CXOs (top management) will not be provided business class treatment for travel and anyone who wants an upgrade can pay from their own pocket

  • SoftBank-backed Unacademy increases ESOP pool by 20% Jul 09, 2022 09:12 PM IST

    SoftBank-backed Unacademy increases ESOP pool by 20%

    Unacademy's move to increase its ESOP pool comes at a time when the company laid off over 750 employees including educators, in a bid to cut costs amid a potential funding winter for India's startups.

  • Exclusive | SoftBank-backed Unacademy spent Rs 100 crore to poach 30 teachers in Kota Jul 08, 2022 07:01 AM IST

    Exclusive | SoftBank-backed Unacademy spent Rs 100 crore to poach 30 teachers in Kota

    Kota holds significant importance for new-age edtech companies such as Unacademy, as it has been an offline education hub, especially for engineering and medical test preparations, for decades

  • Face-recognition business puts SoftBank between China, US Jul 08, 2022 06:22 AM IST

    Face-recognition business puts SoftBank between China, US

    Japan Computer Vision Corp (JCV), owned by SoftBank Group Corp's wireless unit, has struck deals on payments in recent months, a potential breakthrough for SoftBank founder Masayoshi Son's dream of driving new business through partnership between his tech investments.

  • Moneycontrol Selects: Top stories this evening Jul 07, 2022 07:39 PM IST

    Moneycontrol Selects: Top stories this evening

    Our specially curated package of the most interesting articles to help you stay at the top of your game.

  • SoftBank’s Rajeev Misra to Step Back to Launch New Fund Jul 07, 2022 05:12 PM IST

    SoftBank’s Rajeev Misra to Step Back to Launch New Fund

    Misra will keep role with first $100 billion Vision Fund. Decision to step back completes hollowing out of senior ranks

  • Profitability first, then IPO, so you don’t have to sell your story much to the public: Meesho’s Vidit Aatrey Jun 29, 2022 07:59 AM IST

    Profitability first, then IPO, so you don’t have to sell your story much to the public: Meesho’s Vidit Aatrey

    Aatrey’s comments come at a time when high-growth tech companies, which got listed on the bourses last year, including unicorns such as Paytm, Zomato, and PolicyBazaar, among others have been dumped by public market investors as these firms have never managed to show a company-level profit.

  • Poaching and coaching in Kota: Race for $500 million education hub heats up Jun 23, 2022 12:51 PM IST

    Poaching and coaching in Kota: Race for $500 million education hub heats up

    As the pandemic recedes, competition between education companies in Kota is a lot more fierce than among the students as edtech startups look to hire teachers for their offline enterprises.

  • SoftBank overseas business chief Alex Clavel exits in latest churn Jun 22, 2022 10:08 AM IST

    SoftBank overseas business chief Alex Clavel exits in latest churn

    SoftBank transformed the tech industry with big bets on late-stage startups but the conglomerate has turned over much of its executive team and has been forced to radically scale back investing activity through its Vision Fund as its portfolio slumps.

  • Sequoia India, SoftBank, others join IAMAI-launched Venture Capital Committee Jun 21, 2022 08:18 PM IST

    Sequoia India, SoftBank, others join IAMAI-launched Venture Capital Committee

    The new panel will work on public policy consultations, stakeholder engagement, ecosystem enhancement, and building a strong industry network for VC firms.

  • SoftBank-backed Unacademy lays off another 150 employees Jun 18, 2022 09:38 AM IST

    SoftBank-backed Unacademy lays off another 150 employees

    Earlier this year, Unacademy had laid off around 600 employees, or 10 percent, of its workforce, to reduce cash burn

  • The Shah pulls back: Kunal Shah is a more cautious angel investor after last year’s frenzy Jun 13, 2022 12:17 PM IST

    The Shah pulls back: Kunal Shah is a more cautious angel investor after last year’s frenzy

    Shah’s investments have dropped sharply in 2022 with the overall funding to India’s startup ecosystem, which is currently the world’s third-largest, slowing amid a correction in global financial markets. According to data shared by data analytics firm Tracxn Technologies, Shah has closed only 26 rounds so far this year.

  • Meesho records 5.35 million orders in one-day sale event Jun 10, 2022 01:23 PM IST

    Meesho records 5.35 million orders in one-day sale event

    Meesho had registered 1 million orders during the "Maha Indian Savings Sale" it hosted on June 6, last year.

  • Ola in talks with multiple global suppliers for $1 billion cell manufacturing Jun 07, 2022 03:40 PM IST

    Ola in talks with multiple global suppliers for $1 billion cell manufacturing

    Ola Electric, which is sponsored by SoftBank Group, is in talks with a number of global suppliers to develop a battery cell manufacturing plant in India.

  • Layoffs, restructuring, slowdown: India’s edtech firms are struggling post-pandemic Jun 06, 2022 12:13 PM IST

    Layoffs, restructuring, slowdown: India’s edtech firms are struggling post-pandemic

    The slowing demand for technology-based education services, coupled with the much-talked-about funding winter, has had a domino effect on India's thriving edtech companies, forcing them to lay off employees, go slow on expansion, cut down excess spends and explore newer revenue streams. Some edtech companies have even shut operations

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