Dog-walking app that lost pooch gets $300M in backing

Wag, the dog-walking service, just stepped in it. Started in 2015, the Los Angeles company on Tuesday said it got $300 million in backing from Japan’s SoftBank Vision Fund run by Masayoshi Son. The cash will be used to expand its paw print across the country. SoftBank, better known for buying

Softbank reaches deal to get big discount on Uber shares

Uber and Softbank have reportedly cut a deal that allows the Japanese fund acquire 15 percent of the ride-hailing giant at a deep discount. Softbank will buy shares from Uber investors and employees in an agreement that values Uber at $48 billion, versus the company’s most recent $70 billion

Uber losses widen as scandals pile up

Uber’s quarterly losses widened, a source familiar with the matter told Reuters on Tuesday, as the ride-hailing company wades through legal troubles and faces regulatory scrutiny across the globe. The Silicon Valley-based company’s net loss increased to $1.46 billion in the third quarter from $1.06 billion in the previous

Softbank wants a 30 percent discount on Uber shares

Japan’s SoftBank Group is offering to purchase shares of Uber at a valuation of $48 billion, a 30 percent discount to its most recent valuation of $68.5 billion, a person familiar with the matter said. The investment, which was approved by the Uber board in October, would also trigger

Softbank wants a 30 percent discount on Uber shares

Japan’s SoftBank Group is offering to purchase shares of Uber at a valuation of $48 billion, a 30 percent discount to its most recent valuation of $68.5 billion, a person familiar with the matter said. The investment, which was approved by the Uber board in October, would also trigger

Softbank says there’s a “possibility’ it won’t invest in Uber

Japan’s SoftBank Group said on Tuesday it was considering investing in Uber Technologies Inc but there was no final agreement at this stage. “If conditions on share price and a minimum of shares are not satisfactory for the SoftBank Group side, there is a possibility the SoftBank Group may

Softbank says there’s a “possibility’ it won’t invest in Uber

Japan’s SoftBank Group said on Tuesday it was considering investing in Uber Technologies Inc but there was no final agreement at this stage. “If conditions on share price and a minimum of shares are not satisfactory for the SoftBank Group side, there is a possibility the SoftBank Group may

Uber board makes peace to clear way for Softbank investment

Uber’s warring board members have struck a peace deal that allows a multibillion-dollar investment by SoftBank Group to proceed, and which would resolve a legal battle between former Chief Executive Travis Kalanick and a prominent shareholder. Venture capital firm Benchmark, an early investor with a board seat in the

WeWork is buying Lord & Taylor’s Fifth Avenue flagship

Lord & Taylor’s flagship store on Fifth Avenue is getting sold to WeWork, the New York-based tech unicorn that markets shared office space. Hudson’s Bay, the owner of Lord & Taylor and Saks Fifth Avenue, is selling the century-old Lord & Taylor flagship for $850 million, the companies announced on Tuesday. WeWork

WeWork employees caught spying on competition

The battle in the red-hot co-working space business is heating up. WeWork, the No. 1 player in the sector, allegedly sent two spies to infiltrate rival Knotel — to steal info and some customers, Knotel claimed. The spies showed up at seven Knotel properties in Manhattan last month in a “systematic attempt

WeWork employees caught spying on competition

The battle in the red-hot co-working space business is heating up. WeWork, the No. 1 player in the sector, allegedly sent two spies to infiltrate rival Knotel — to steal info and some customers, Knotel claimed. The spies showed up at seven Knotel properties in Manhattan last month in a “systematic attempt

Goldman Sachs forms unit to court big dealmakers

Goldman Sachs is betting it can get its money-making mojo back by pitching creative deals to big, complex clients, marking a return to its investment banking roots as trading revenue slows. The Wall Street bank is forming a group, known internally as the Innovation Lab, focused on generating compelling deal ideas

Uber directors weighing moves to curb ex-CEO’s clout

Directors at Uber plan to vote on board reforms and whether to pursue a major stock deal with SoftBank Group on Tuesday, Bloomberg reported on Monday, citing sources familiar with the matter. The moves could potentially reshape the ride-hailing company’s governance, limiting co-founder and former Chief Executive Travis Kalanick’s power as

Slack valued at more than $5B after Softbank investment

Software startup Slack Technologies said it raised $250 million from SoftBank Group and other investors in its latest funding round, boosting the company’s valuation to $5.1 billion. The latest fund-raising, led by SoftBank through its giant Vision Fund and joined by Accel and other investors, lifted Slack’s total funds raised to

Softbank CEO hasn’t decided whether to back Uber or Lyft

SoftBank, a prolific investor in global technology startups, reported a sharp rise in quarterly profits and said it would be interested in parking funds in ride-hailing firms Uber or Lyft in the future. This is the first time Softbank has publicly indicated an interest in Uber, after having so far put

Softbank CEO hasn’t decided whether to back Uber or Lyft

SoftBank, a prolific investor in global technology startups, reported a sharp rise in quarterly profits and said it would be interested in parking funds in ride-hailing firms Uber or Lyft in the future. This is the first time Softbank has publicly indicated an interest in Uber, after having so far put

Sprint shares surge as CEO hints at merger deal

Sprint shares jumped more than 10 percent on Tuesday after its chief executive said an announcement on merger talks should come in the “near future” and the company reported a quarterly profit for the first time in three years. The No. 4 U.S. wireless carrier, majority owned by Japan’s SoftBank Group,

Charter says it’s not interested in buying Sprint

U.S. cable operator Charter Communications said on Sunday it was not interested in acquiring U.S. wireless carrier Sprint, leaving the latter’s majority owner, SoftBank Group, pondering how to orchestrate a merger. A merger of Charter and Sprint would create a telecommunications powerhouse, providing a one-stop shop for customers looking for internet

Masayoshi Son considering massive Uber stake

Moneybags Masayoshi Son is seriously considering throwing some of his billions into troubled rideshare company Uber, sources told On the Money. Son was recently in Sun Valley, Idaho, powwowing with the likes of Warren Buffett and John Malone, who together are tossing around the idea of investing alongside each other, according