softbanks vision fund poised to reap big uber gain

SoftBank’s Vision Fund Poised to Reap Big Uber Gain

Business

SoftBank Group Corp.’s Vision Fund, the world’s largest technology investor, is set to be a big winner on Uber Technologies Inc.’s blockbuster IPO this week, with a paper profit of roughly $3 billion in about 16 months.

Uber is currently anticipating a valuation of about $80 billion and $90 billion when its shares begin trading Friday. When SoftBank bought into the company in early 2018, writing a $7.7 billion check for a roughly 15% stake, Uber had been reeling from a series of crises and was valued at around $48 billion….

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