Softbank
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SoftBank gave $170m to a social app whose users mostly didn't exist
Back in 2021, Japanese investment giant SoftBank led a little-known social media app called IRL to unicorn status and an overall valuation of $1.17 billion by investing over $170 million. Well, it just turned out that the app completely made up its user numbers, admitting that 95 percent of its purported 20 million user base was fake.
Lawrence Bonk06.27.2023
ARM registers for US initial public offering
ARM registered for US stock market listing on Saturday, setting the stage for the most important IPOs in recent memory.
Igor Bonifacic04.30.2023
GM to buy out SoftBank's stake in Cruise self-driving unit
It's buying out SoftBank for $2.1 billion and making an additional $1.35 billion investment.
Mariella Moon03.19.2022
Why every robot needs a spiffy hat
Tomorrow's robotic workforce will be just like us, putting their robo-pants on one leg at a time.
Andrew Tarantola07.26.2021
SoftBank reportedly stopped the production of its Pepper robots last year
We may have to say farewell to SoftBank's adorable humanoid robot Pepper.
Mariella Moon06.28.2021
Leica's very own Leitz Phone 1 is a rebadged Sharp Aquos R6
The Leitz Phone 1 is Leica's first self-branded mobile phone, and it'll be a Softbank exclusive when it launches in July. The camera maker isn't afraid to admit that the Leitz Phone 1 is actually a rebadged Aquos R6.
Richard Lai06.17.2021
OneWeb secures funding to launch more than 500 internet satellites
OneWeb has secured a $400 million investment from SoftBank and Hughes Network Systems.
Igor Bonifacic01.15.2021
Hyundai confirms its $1.1 billion acquisition of Boston Dynamics
Boston Dynamics is now officially part of Hyundai Motor Group. The Korean conglomerate has struck a deal with Softbank to acquire a controlling interest — an 80 percent stake — in the robotics company for $1.1 billion. According to their announcement, Hyundai decided to purchase a controlling stake in the robotics firm, because it “possesses multiple key technologies for high-performance robots equipped with perception, navigation, and intelligence.”
Mariella Moon12.11.2020
SoftBank has reportedly sold Boston Dynamics to Hyundai
Hyundai Motors is acquiring Boston Dynamics, according to The Korea Economic Daily. The publication says Softbank has agreed to sell the robot maker for 1 trillion won (US$917 million) and that the acquisition will be finalized at a board meeting today, December 10th. Boston Dynamics is known for its nightmare-inducing (or oddly adorable, depending on your perspective) robotic dog Spot, which it started selling in mid—2020 for $75,000.
Mariella Moon12.10.2020
Hyundai is reportedly in talks to buy Boston Dynamics
Hyundai may be the next owner of Boston Dynamics, the company behind the Spot robot dog.
Devindra Hardawar11.10.2020
SoftBank is reportedly close to selling ARM to NVIDIA
SoftBank is said to be close to a deal to sell ARM to NVIDIA for a whopping $40 billion, shaking up the chip industry.
Jon Fingas09.12.2020
SoftBank is in talks to sell ARM (at a time when ARM chips matter)
Would an NVIDIA-owned ARM maintain its neutrality?
Daniel Cooper08.11.2020
ARM wants to transfer its IoT divisions to Softbank so it can focus on chips
ARM announced a plan to spin off its two IoT divisions and transfer them to Softbank, which bought the chip designer back in 2016.
Igor Bonifacic07.07.2020
ARM chips are inside the world's most powerful supercomputer
Japan's Fugaku supercomputer, which the country built using ARM processors, is now the world's most powerful supercomputer in the world.
Igor Bonifacic06.22.2020
Alphabet's Loon, telecoms unite to boost high-altitude internet
Alphabet's Loon just got a big boost from telecoms in its bid to provide high-altitude internet to the world. The company has partnered with several industry giants to form the HAPS Alliance, a group devoted to promoting the use of stratospheric vehicles for internet access. Most of the allies are telecoms like Deutsche Telekom, SoftBank, Bharti Airtel, China Telecom and Telefonica, although the group also includes a diverse range of equipment makers like Airbus, AeroVironment, Ericsson, Intelsat and Nokia.
Jon Fingas02.22.2020
Alphabet's Loon turned a stratospheric aircraft into an internet drone
Alphabet's Loon is known for its internet balloons, but it worked on an entirely balloon-less project as part of its partnership with Softbank's HAPSMobile. The two formed "a long-term strategic relationship" in April 2019, with HAPSMobile investing $125 million in the Alphabet company. Now, the partners have announced that they've successfully designed and developed a communications payload for HAPSMobile's solar-powered stratospheric unmanned aircraft system, the HAWK30.
Mariella Moon02.06.2020
WeWork may have found its new CEO: T-Mobile's John Legere
WeWork's series of trials and tribulations has been one of the biggest business stories of the last few months. Co-founder Adam Neumann exited as CEO in September, then SoftBank bought a majority stake in the troubled co-working company after WeWork's failed attempt at an IPO. WeWork might already have a new chief executive lined up, though: T-Mobile CEO John Legere, whom the Wall Street Journal reported is in talks to take over.
Kris Holt11.11.2019
GM's self-driving unit is close to receiving a $2.25 billion boost
It took more than a year, but GM's self-driving company is close to receiving a giant cash infusion. Cruise Automation confirmed to Reuters that the Committee on Foreign Investment in the US (CFIUS) had approved SoftBank's $2.25 billion investment in the driverless tech company. SoftBank will have a spot on Cruise's board as a result of the deal. However, a Reuters source claimed that SoftBank wouldn't have access to the technology itself -- a condition CFIUS reportedly set out over concerns that the Japanese firm's investments in Chinese tech would compromise American trade secrets.
Jon Fingas07.06.2019
Five automakers back Toyota's and Softbank's self-driving business
Tech companies and automakers have been setting differences aside and merging forces in hopes of getting themselves a piece of the self-driving pie as early as possible. Late last year, Toyota and Softbank teamed up to establish a joint venture called Monet. Now, their partnership is getting a boost from five new allies: Japanese automakers Isuzu, Suzuki, Subaru, Daihatsu (Toyota's compact car division) and Mazda. The companies are joining Honda and Hino Motors, other automakers that also chose to back the project.
Mariella Moon06.28.2019
Uber's self-driving unit gets its own CEO and a $1 billion investment
As Uber finally closes in on its IPO, its self-driving car unit is getting a big cash infusion and some independence. The company announced tonight that Toyota, Denso and Softbank are investing a total of $1 billion in its Advanced Technologies Group (Uber ATG), in a deal that values that part of the company at $7.25 billion. This adds onto Toyota's $500 million investment last year, which the two said would lead to the creation of an autonomous fleet based on Toyota's Sienna minivan. So far, many of the big car companies are teaming up to develop autonomous tech combined with ridesharing angles as it's expected to be a huge market in the next few years. According to Uber CEO Dara Khosrowshahi, "The development of automated driving technology will transform transportation as we know it, making our streets safer and our cities more livable. Today's announcement, along with our ongoing OEM and supplier relationships, will help maintain Uber's position at the forefront of that transformation." In the statement Toyota EVP Shigeki Tomoyama said "Leveraging the strengths of Uber ATG's autonomous vehicle technology and service network and the Toyota Group's vehicle control system technology, mass-production capability, and advanced safety support systems, such as Toyota Guardian™, will enable us to commercialize safer, lower cost automated ridesharing vehicles and services." The deal won't close until Q3, which should be well after Uber's initial public offering that's on track to occur in May. It's also being announced after Arizona prosecutors announced they did not find the company criminally liable for a 2018 self-driving car crash that killed a pedestrian. The deal makes Uber ATG its own corporate entity that's controlled by Uber. Reuters reports that it has ATG head Eric Meyhofer as CEO reporting to a newly-formed board of directors, with six appointed by Uber, one by Toyota and one by Softbank.
Richard Lawler04.18.2019