Thursday, July 25, 2019
SoftBank Group announces new $108B Vision Fund, broadens investor base
Amazon's push for one-day delivery dents profits, costs up 21%
India's agricultural farms get a technology lift
Brands help celebrities cash in on their fan base
Social influencers make hay while content shines
We view India as our future, says WhatsApp global head
WhatsApp payments beta test has gone better than expected: Zuckerberg
Unity announces it is raising $525M from D1 Capital Partners, Canada Pension Plan Investment Board, Light Street Capital, others, doubling its valuation to $6B (Lucas Matney/TechCrunch)
Unity announces it is raising $525M from D1 Capital Partners, Canada Pension Plan Investment Board, Light Street Capital, others, doubling its valuation to $6B — Unity's private valuation is climbing but it's growing unclear whether the company's leadership is planning to take the 15-year-old gaming powerhouse public anytime soon.
Digital payment firms wait for new finance secretary to discuss MDR
Australia's ACCC releases final report on anti-competitive behavior and market power of tech giants, offers 23 recommendations including a stronger Privacy Act (NEWS.com.au)
Australia's ACCC releases final report on anti-competitive behavior and market power of tech giants, offers 23 recommendations including a stronger Privacy Act — Tech giants including Google, Facebook will face greater scrutiny after the ACCC handed down its landmark final report today.
Govt fears WhatsApp may share payments data with Facebook, others
SoftBank announces AI-focused second $108 billion Vision Fund with LPs including Microsoft, Apple and Foxconn
SoftBank Group announced today that it will launch its second Vision Fund with participation from Apple, Foxconn, Microsoft and other tech companies and investors. Called the Vision Fund 2, the fund will focus on AI-based technology. SoftBank said the fund’s capital has reached about $108 billion, based on memoranda of understandings. SoftBank Group’s own investment in the fund will be $38 billion.
It is worth noting that the second Vision Fund’s list of expected limited partners does not currently include any participants from the Saudi Arabia government (the first Vision Fund’s close ties to people, including Crown Prince Mohammed bin Salman, who have been implicated in the murder of journalist Jamal Khashoggi, has understandably been a major source of concern for investors, companies and human rights observers).
But SoftBank Group also said is still in discussions with other participants and that the total amount of the fund is expected to increase. The full list of participants who have signed MOUs so far are: “Apple, Foxconn Technology Group, Microsoft Corporation, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd., The Dai-ichi Life Insurance Company, Limited, Sumitomo Mitsui Trust Bank, Limited, SMBC Nikko Securities Inc., Daiwa Securities Group Inc., National Investment Corporation of National Bank of Kazakhstan, Standard Chartered Bank, and major participants from Taiwan.”
SoftBank’s intention to launch Vision Fund 2 was first reported earlier this week by the Wall Street Journal. The new fund is expected to decrease SoftBank’s reliance on Saudi Arabian investment and also potentially change the relationship between startups, corporate giants like Microsoft and investors.
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SoftBank announces Vision Fund 2, will commit $38B to it with the goal of raising $108B; Apple, Microsoft, and others are expected to contribute (Pavel Alpeyev/Bloomberg)
SoftBank announces Vision Fund 2, will commit $38B to it with the goal of raising $108B; Apple, Microsoft, and others are expected to contribute — SoftBank Group Corp.'s founder Masayoshi Son launched a second Vision Fund, seeking to extend his reign as the world's most influential technology investor.
Sources: Nubank, a Brazil-based digital bank, is raising $400M led by TCV in a deal that would value the company at more than $10B (Wall Street Journal)
Sources: Nubank, a Brazil-based digital bank, is raising $400M led by TCV in a deal that would value the company at more than $10B — TCV expected to lead a $400 million financing in Brazilian financial technology business After SoftBank talks fell through
In a rare move, Apple publishes a statement and a document listing all ByteDance apps inaccessible in the US alongside TikTok, including Lemon8 and Lark (Ivan Mehta/TechCrunch)
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