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The real reason Tesla is showing off its self-driving tech (TSLA)

Tesla bears are insisting that the company is staging an event to showcase its self-driving technology because it wants to distract from weak Q1 earnings coming this week. But the markets have known Tesla earnings are likely to be weak for some time. What CEO Elon Musk really wants to do is pitch Tesla autonomous tech to investors who've thus far created multi-billion-dollar valuations for self-driving businesses from the likes of GM's Cruise and Uber. Visit Business Insider's homepage for mor...
Tags: Facebook, Europe, Japan, Elon Musk, Softbank, US, Trends, Tesla, Fca, Gm, Honda, Musk, Fiat Chrysler, Zev, Waymo, Tesla Network


Sony launches a taxi-hailing app to rival Uber in Tokyo

Sony last year announced it would enter Japan’s taxi-hailing space and, good to its word, the electronics giant has kicked off its S.Ride service in Tokyo. The service — which was first noted by CNET — is a joint venture between Sony, its payment services subsidiary and five licensed taxi companies. Since ride-hailing with civilian cars is illegal in Japan, the service will focus on connecting licensed taxis with passengers. The electronics giant previously played up its use of AI to match suppl...
Tags: Startups, Lyft, Uber, Asia, Japan, China, Softbank, Spokesperson, Artificial Intelligence, Automotive, Transport, Sony, Tokyo, Commuting, Toyota, Rakuten


Startups Weekly: Zoom CEO says its stock price is ‘too high’

When Zoom hit the public markets Thursday, its IPO pop, a whopping 81 percent, floored everyone, including its own chief executive officer, Eric Yuan. Yuan became a billionaire this week when his video conferencing business went public. He told Bloomberg that he actually wished his stock hadn’t soared quite so high. I’m guessing his modesty and laser focus attracted Wall Street to his stock; well, that, and the fact that his business is actually profitable. He is, this week proved, not your aver...
Tags: Softbank, Tech, Bloomberg, Berkeley, Yuan, Boston Dynamics, Bessemer Venture Partners, Lucas Matney, Alex Wilhelm, McDonald, ATG, Danny Crichton, Co Star, Adam Fisher, Marc Raibert, Raibert


Extreme opinions about Tesla are completely wrong — here's why (TSLA)

The debate around Tesla is being defined by extreme bulls to one side and extreme bears to the other. A rational middle ground is hard to hold in this two-front battle over Tesla's future. Tesla moderates can take solace in the probability that the extremists are wrong. Visit Business Insider's homepage for more stories. Tesla is about to enter yet another critical moment. The carmaker will report first-quarter earnings next week, and after two consecutive quarters of profits, analysts expect...
Tags: Apple, Amazon, Facebook, Elon Musk, China, Softbank, US, Trends, Tesla, Cruise, Gm, TSLA, Silicon Valley, Honda, Henry Ford, Musk


An engineer at Uber's self-driving car unit warns that it's more like 'a science experiment' than a real car capable of driving itself (UBER)

Uber has spun out its self-driving car unit as an LLC with the unit's chief Eric Meyhofer as CEO, as part of its $1 billion investment deal. People inside the company say that the company is taking safety more seriously since their car killed a pedestrian last year. But they say that the car still doesn't drive itself all that well. One person likened it to a "science experiment." Visit BusinessInsider.com for more stories.   On the road to one of the biggest tech IPO's in years, Uber CEO Dar...
Tags: Google, Uber, California, Softbank, Trends, Pennsylvania, Arizona, Toyota, Pittsburgh, LLC, ATG, Dara Khosrowshahi, Khosrowshahi, Waymo, Eric Meyhofer, Uber s Advanced Technologies Group ATG


Uber’s self-driving unit valued at $7.25 billion in new investment: Reuters

Uber’s autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corp, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering. Uber Technologies Inc said on Thursday that the investment values its Advanced Technologies Group, which works to develop autonomous driving technology, at $7.25 billion. SoftBank will invest $333 million from its $100 billion Vision Fund, while Toyota Motor ...
Tags: Uber, Softbank, Trends, United States, Toyota, Pittsburgh, Reuters, General Motors Co, SoftBank Group Corp, Tempe, Toyota Motor Corp, Uber Technologies Inc, Committee on Foreign Investment, ATG, Tempe Arizona, CFIUS


Uber’s self-driving car unit raises $1B from Toyota, Denso and Vision Fund ahead of spin-out

Uber’s has confirmed it will spin out its self-driving car business after the unit closed $1 billion in funding from Toyota, auto-parts maker Denso and SoftBank’s Vision Fund. The development has been speculated for some time — as far back as October — and it serves to both remove a deeply-unprofitable unit from the main Uber business: helping Uber scale back some of its losses, while giving Uber’s Advanced Technologies Group (known as Uber ATG) more freedom to focus on the tough challenge of br...
Tags: Uber, Japan, Ipo, Softbank, Tech, Automotive, Toyota, ATG, DENSO, Dara Khosrowshahi, SoftBank Vision Fund, Vision Fund, Uber s Advanced Technologies Group, Uber ATG, Shigeki Tomoyama, Toyota Group


Toyota, SoftBank fund, Denso invest $1 billion in Uber

TOKYO (AP) — Japan’s top automaker Toyota, auto parts maker Denso and internet company SoftBank’s investment fund are investing $1 billion in car-sharing Uber’s technology unit. The Japanese companies said Friday that Toyota Motor Corp. and Denso Corp. will together invest $667 million and SoftBank Corp.’s Vision Fund will contribute $333 million in Uber Technologies […]
Tags: Business, Japan, Technology, News, Softbank, Ap, Nation, Tokyo, Toyota, Toyota Motor Corp, Uber Technologies, Softbank Corp, DENSO, Denso Corp, Toyota SoftBank


Uber has dangled $100 million at Dara Khosrowshahi if he can convince investors, or a buyer, that the company is worth $120 billion

Dara Khosrowshahi has a huge potential payout riding on Uber's IPO valuation hitting $120 billion and staying there for 90 consecutive days. He'd also get that payout for selling the company for $120 billion.  A source tell us his incentive is worth $100 million or more. Dara Khosrowshahi could get a huge payday — totaling more than $100 million according to a source — if Uber's IPO valuation hits $120 billion and stays at that level for 90 consecutive days. The Uber CEO will also get the pay...
Tags: Google, Uber, Southeast Asia, Softbank, US, Trends, Cruise, Gm, Honda, Expedia, PitchBook, Dan Primack, Dara Khosrowshahi, Primack, Khosrowshahi, Waymo


Logistics startup Zencargo raises $20M to take on the antiquated business of freight forwarding

Move over, Flexport. There is another player looking to make waves in the huge and messy business of freight logistics. Zencargo — a London startup that has built a platform that uses machine learning and other new technology to rethink how large shipping companies and their customers manage and move cargo, or freight forwarding as it’s known in the industry — has closed a Series A round of funding of about $19 million. Zencargo’s cofounder and head of growth Richard Fattal said in an intervi...
Tags: Amazon, Europe, London, Softbank, Tech, DST Global, Cto, Flexport, Picus Capital, HV Holtzbrinck Ventures, Christian Saller, Fattal, Zencargo, Richard Fattal, Samos LocalGlobe, Alex Hersham


SoftBank Sold All $4.5 Billion in Bonds on First Day

Nomura Holdings Inc., Daiwa Securities Group Inc. and other brokerages were able to cover the entire portion on Monday, and one underwriter received 1.4 times as much demand as the bonds that were for sale, said the people, who asked not to be identified because the information isn’t public. SoftBank last Friday priced the notes maturing in April 2025 at a coupon of 1.64 percent, compared with a preliminary range of 1.3 percent to 1.9 percent. This time, SoftBank will give a blue-color travel ...
Tags: Science, Softbank, Nomura Holdings Inc Daiwa Securities Group Inc


A focus on diversity reaps rewards for this Los Angeles investor

The Los Angeles startup scene has come a long way in the three-and-a-half years since Marlon Nichols, Troy Carter and Trevor Thomas launched Cross Culture Ventures. The city and its surrounding Orange County exurbs were at the beginning of a venture capital surge that has seen invested capital in the region rise from $3.63 billion in 2015 to $6 billion last year. Since Cross Culture landed on the Los Angeles scene with a $50 million fund, Nichols and his partners have notched three exits and ...
Tags: TC, Spotify, Europe, Nordstrom, New York, London, Boston, Softbank, Los Angeles, San Francisco, Tech, Atlanta, Intel, Palo Alto, University, United States


SoftBank and Saudi Arabia are big winners from the Uber IPO

Uber's IPO is generating plenty of excitement in Silicon Valley. But foreign investors, which made carefully-timed bets, could be among the biggest winners.
Tags: Saudi Arabia, Softbank, Cnn, Silicon Valley


Boston Tech Watch: Tufin, Facebook, RightHand, Diameter & Jebbit

A cybersecurity IPO could raise up to $124 million for an Israeli-based company with its US headquarters in Boston. Facebook’s Boston office wants to map the world’s population in high def, starting with Africa. More venture cash is flowing into Bay State startups. Read all this and much more in this week’s roundup of local tech news.—Tufin Software Technologies, a cybersecurity company based in Israel with its US headquarters in Boston, went public this week and is listed on the New York Stock...
Tags: Deals, Startups, Facebook, Boston, Softbank, Israel, US, Trends, Tech, Connecticut, Weather Forecast, New York Stock Exchange, Eric Schmidt, Video Game, Affectiva, Healthtech


Uber has already made billions from its exits in China, Russia and Southeast Asia

Uber’s exits from China, Russia and Southeast Asia were billed as failures from the company, but the ride-sharing giant has already made billions on paper from those moves, according to its IPO filing. Uber released its much-anticipated S1 on Thursday U.S. time and reporters and analysts are frantically digging into a treasure trove of previously-unreleased details. A number of sections on Uber’s global divestitures begin to paint a clear picture of the strategy that Uber employed when leaving ...
Tags: Google, TC, Uber, Asia, Indonesia, Mexico, China, Russia, Southeast Asia, Softbank, Tech, Automotive, Middle East, Tencent, Brazil, Yandex


SoftBank picking its battles with U.S. national security committee

SoftBank Group Corp has agreed to give up board seats and access to sensitive information, take a more passive role in startups and make other concessions to get government clearance for its technology deals in the United States.
Tags: Money, Softbank, businessNews, SoftBank Group Corp, U S national security committee


SoftBank's Son Stands to Double $7.7 Billion Stake in Uber IPO

SoftBank Group Corp.’s Vision Fund owns 16.3 percent of the world’s biggest ride-hailing company, according to Uber’s filing with the U.S. Securities and Exchanges Commission on Thursday. Uber is reported to seek a valuation of between $90 billion and $120 billion for the initial public offering planned in May, putting SoftBank’s share between $15 billion and $20 billion. In addition to Uber, SoftBank has poured more than $10 billion into China’s Didi Chuxing, $3 billion into Southeast Asia’s ...
Tags: Uber, Science, China, Southeast Asia, Softbank, Didi Chuxing, U S Securities and Exchanges Commission, SoftBank Group Corp 's Vision Fund, Uber SoftBank, General Motor Co


SoftBank's Masayoshi Son Has a $7.7 Billion Uber Ticket to Ride

Investors in the Vision Fund, and in Masayoshi Son’s listed SoftBank Group Corp., are rightly expecting a windfall. Son opened his checkbook very late in Uber’s life, taking a stake less than 18 months ago and in the final rounds of equity financing.
Tags: Science, Softbank, SoftBank Group Corp, Masayoshi Son


Inside SoftBank's push to rule the road

SoftBank Group Corp leader Masayoshi Son has much bigger ambitions for transportation than simply seeing his investment in Uber Technologies Inc turn into more than $13 billion when the company goes public next month.
Tags: Money, Softbank, businessNews, SoftBank Group Corp, Uber Technologies Inc, Masayoshi Son


Equity Shot: A deep dive into the Uber S-1

 Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. It’s time for another Equity Shot, a quick-take episode centered around a breaking news event. This time, as you already guessed, Kate Clark and I sat down to dig into the Uber S-1. It’s a huge, complex document, but we did our best to summarize what’s inside. First, we talked through yearly results, looking back a half-decade into Uber’s revenue growth. In t...
Tags: Apple, Startups, TC, Transportation, Uber, Finance, Ipo, Softbank, Chief executive officer, Tech, Economy, Transport, Venture Capital, Commuting, Travis Kalanick, Carsharing


Travis Kalanick stands to make billions from Uber’s IPO

Uber co-founder Travis Kalanick, who resigned from the company in 2017, still stands to make billions in the company’s intial public offering, expected in May. The ride-hailing giant dropped its S-1 this afternoon, confirming plans to trade on the New York Stock Exchange under the ticker symbol “Uber.” The company did not disclose the valuation it’s seeking, but is said to be planning to sell around $10 billion in stock. The filing highlights Uber’s key stockholders, including Kalanick, wh...
Tags: Fundings & Exits, Transportation, Uber, Business, Saudi Arabia, Ipo, Softbank, Tech, United States, Transport, Venture Capital, Commuting, Travis Kalanick, New York Stock Exchange, Kalanick, Carsharing


Here's who's getting rich on Uber's massive IPO

Uber is gearing up for one of the biggest tech IPOs of all time. Its paperwork has been filed with the SEC and made public, giving us a glimpse as to who its biggest shareholders are. These are the people that stand to gain the most if Uber's entrance as a public company is well received by investors. Uber just publicly revealed the paperwork for its giant IPO. This paperwork doesn't yet include key details, like how much the company expects to charge for each share of its stock, or how many ...
Tags: Uber, Ipo, Softbank, Trends, StumbleUpon, SEC, Travis Kalanick, Kalanick, Camp, Travis Kalanick Travis Kalanick, Garrett Camp Garrett Camp, Dara Khosrowshahi Dara Khosrowshahi


Insurance startup Lemonade raises $300M funding round

Lemonade, a tech-centric insurance startup that uses artificial intelligence, announced Thursday it had raised $300 million in a new round of funding.
Tags: Technology, Wall Street, Softbank, Insurance, Radio, Lemonade, Industry News, Chatbot, News Brief, Daniel Schreiber, Shu Nyatta


WTF is Baillie Gifford?

The SoftBank Vision Fund has been screaming from the venture headlines the last few months, driven by eye-popping rounds (and valuations!) into some of the most notable startups around the world. Yet, SoftBank isn’t the only player rapidly buying up the cap tables of top startups. Indeed, another firm, more than a century old, has been fighting for that late-stage equity crown. Baillie Gifford . … Who the what? When our fintech contributor Gregg Schoenberg interviewed Charles Plowden, the f...
Tags: Wtf, Softbank, Tech, Silicon Valley, Naspers, Baillie Gifford, Edinburgh Scotland, Amazon Google, NIO, SoftBank Vision Fund, Plowden, Gregg Schoenberg, Charles Plowden, Tesla Airbnb Spotify, Alibaba More, Pitchbook Baillie Gifford


Hanson recruits Softbank Robotics scientist as CTO

Hanson Robotics announced this morning that it has hired Amit Kumar Pandey, Softbank Europe’s Chief Scientist, as Chief Technology Officer (CTO) and Chief Science Officer (CSO). In his six years at Softbank, Pandey ran a various robotics initiatives, including the company’s Social Interaction and Intelligence of the Robot program. At Hanson, he will be charged with leading the company’s commercial products and fostering its AI applications. The Hong Kong-based robotics company is likely best ...
Tags: Startups, TC, Hong Kong, Softbank, Robotics, Hiring, Cto, Softbank Robotics, Sophia, Hanson, Pandey, Hanson Robotics, Amit Kumar Pandey Softbank Europe, Softbank Pandey, Social Interaction and Intelligence


Insurance startup Lemonade raises $300 million to fuel expansion: Reuters

NEW YORK (Reuters) – Tech-driven insurance startup Lemonade Inc has signed a $300 million funding round led by Japan’s SoftBank Group Corp , the company said on Thursday. Other investors included insurer Allianz SE, Alphabet Inc’s venture capital arm GV, General Catalyst, OurCrowd and Thrive Capital. The company will use the funds to expand in the United States, launch in Europe and grow its product offering beyond home and rental insurance, Lemonade Chief Executive Daniel Schreiber said in an i...
Tags: Europe, Japan, New York, Softbank, Trends, United States, Lemonade, Reuters, SoftBank Group Corp, Schreiber, Reuters Tech, VC Deals, Daniel Schreiber, Lemonade Inc, Allianz SE Alphabet Inc, GV General Catalyst OurCrowd


Lemonade picks up $300 million Series D led by SoftBank Group

Lemonade, the insurance startup founded by Daniel Schreiber and Shai Wininger, has today announced a $300 million Series D financing led by the SoftBank Group, with participation from Allianz, General Catalyst, GV, OurCrowd and Thrive Capital. Lemonade uses an AI-powered bot to digitize the insurance buying experience for renters and home owners. Users simply download the app and answer a few questions before getting a quote, which starts at $5/month but can surely go up based on a number of ...
Tags: TC, Europe, Softbank, Tech, Lemonade, Schreiber, SoftBank Group, Shai Wininger, Daniel Schreiber, Allianz General Catalyst GV OurCrowd


Two Uber Board Seats for SoftBank Imperiled by U.S. National Security Review

Since then, foreign investment in the U.S. has come under heightened scrutiny. The Japanese technology conglomerate will lose its claim to those board positions when Uber goes public, people familiar with the matter said. At that time, the company’s bylaws will change, erasing old agreements like the one it had with SoftBank.
Tags: Science, Softbank, U S National Security Review


Daily Crunch: China considers Bitcoin mining ban

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here. 1. Regulators in China are weighing a ban on Bitcoin mining Cryptocurrency mining has become the latest target for the Chinese government seeking to phase out industries considered to be a drag on the country’s economy. The National Development and Reform Commission, the top economic planning agency in the w...
Tags: Apple, UK, China, Softbank, Tech, Bitcoin, Crypto, Cryptocurrency, Klook, Ming Chi Kuo, Eric Gnock Fah, National Development and Reform Commission, David Liu, Daily Crunch, Bernie Xiong, Anita Ngai


SoftBank Taps Third Point, JPMorgan Executives for $5 Billion Tech Fund

Paulo Passoni, who until earlier this year was a managing director at Daniel Loeb’s hedge fund Third Point, will serve as investment partner with SoftBank’s own Shu Nyatta for the SoftBank Innovation Fund. André Maciel, who ran JPMorgan’s investment-banking advisory business for Brazil, is joining as a managing partner who will helm the fund’s Brazil office, the company said.
Tags: Science, Softbank, Brazil, Jpmorgan, Daniel Loeb, Shu Nyatta, Paulo Passoni, André Maciel