SoftBank-backed Zume Cuts Staff, as Japan Investor Rolls Back Startup Ambition
Robotic pizzamaker Zume is laying off half its staff and will stop making pizzas, its co-founder and CEO has announced. Alex Garden said the California-headquartered firm will now concentrate on its packaging… The .....»»
Oyo founder to buy back $2 billion worth stake in SoftBank-backed Indian co
Indian hospitality startup Oyo Founder Ritesh Agarwal raised his stake in the company with a $2 billion buyback, in a move that will bring his ownership closer to biggest investor SoftBank Corp ......»»
SoftBank-backed Brandless to cut 90% of staff, scale back operations, FT reports
See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»
The Funded: More job cuts seen at SoftBank-backed companies
Job cuts are piling up for companies in SoftBank Vision Fund's portfolio. Mountain View-based Zume Inc., the pizza delivery and food logistics unicorn, is reportedly slashing 400 jobs — about 80 percent of its workers — as it tries to raise n.....»»
Report: SoftBank-backed Zume set to slice 400 jobs
Zume Inc. is reportedly cutting 80 percent of its workforce, or an estimated 400 jobs, amid turmoil at the Mountain View-based foodtech startup. The company made a splash five years ago with its pizza-making robots and as recently as November was.....»»
SoftBank says WeWork Japan can become profitable "in near future"
WeWork's Japan unit can become profitable "in the near future", the Japanese partner of the U.S. office-space sharing startup said on Tuesday, amid investor scepticism over its path to profitability......»»
WeWork plans to lay off 4,000 staff - FT
Office-sharing startup WeWork is planning to cut as many as 4,000 jobs as a part of a turnaround plan put in place by top shareholder Japan's SoftBank Group after it took control of the company this week, Financial Times reported on Wednesday......»»
The founder of SoftBank-backed hotel startup Oyo is buying back shares in his company in a $1.5 billion deal
Oyo Indian hotel platform Oyo.....»»
Compass Inc. Files IPO With SEC
Real Estate Brokerage Firm Compass Inc. Going Public New York-based real estate startup, Compass, which is backed by SoftBank, filed .....»»
Bay Area startup dials up $10 million from SoftBank, adds to $100 million Series E
The AI communications cloud platform company plans to use the additional $10 million to expand its presence in Japan and hit new markets in the Asia Pacific region......»»
Softbank-backed delivery startup Rappi is testing out robots for contactless delivery — take a look
Photo from Fredy Builes/VIEWpress via Getty Images) Colombian delivery app Rappi is testing pilot robot deliveries in C.....»»
Airbnb is cutting 25% of staff — 1,900 jobs — after its business has been slammed by the coronavirus crisis
Mike Segar/Reuters Airbnb announced Tuesday it's cutting 25% of its staff, or about 1,900 jobs. The cuts are meant to refocus the company on its core business of home sharing; the company plans to pause or cut back other e.....»»
WeWork co-founder Neumann sues SoftBank over failed tender offer
WeWork co-founder Adam Neumann filed a lawsuit against Japan's SoftBank Group Corp and its Vision Fund on Monday for terminating a $3 billion tender offer to the office-sharing startup's shareholders......»»
SoftBank-backed Indian hotel start-up Oyo cuts salaries amid virus,TC says
See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»
WeWork committee pushes back against SoftBank, defends right to represent shareholders
A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp that it does not have authority to represent the interests of minority shareholders of the office-sharing startup......»»
Another big Philadelphia law firm cuts salaries, pushes back start date of first-year associates
Associates and staff could see their pay reduced by up to 15% while partner profit draws will decline by as much as 20%......»»
SoftBank-backed Oyo furloughs most of its U.K. staff, Yahoo Finance reports
See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»
SoftBank-backed Kabbage furloughs "significant" number of staff, TechCrunch says
See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»
Big banks reassure staff about potential job cuts
Big banks are postponing decisions about staff cuts as the coronavirus hits their businesses hard, with executives saying they are unsure how long the outbreak will hurt the economy and worried about being unprepared if business suddenly snaps back......»»
SoftBank plans to sell $41 bln of assets
SoftBank Group Corp plans to raise as much as $41 billion to buy back shares and reduce debt in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies. Ciara Lee reports.....»»
SoftBank plans $41 billion of asset sales to expand buyback and cut debt
SoftBank Group Corp plans to raise as much as $41 billion to buy back shares and reduce debt in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies......»»