Tag Archives: softbank

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SoftBank-backed OneConnect Financial Technology has joined the China Merchants Port Group (CMPort) to build a blockchain-based platform logistics system.A SoftBank-supported fintech firm OneConnect is set to develop a blockchain-based platform. Sources say that OneConnect Financial Technology is to develop a logistics system for the Guandong-Hong Kong-Macau region within the joint program with the China Merchants Port Group. OneConnect Financial Technology is the fintech arm of top Chinese...

As the merger between T-Mobile and Sprint is finalized, both companies have made a few amendments and hope to finalize all details by April. Deutsche Telekom will get a good stake.According to a recent announcement, both Sprint and T-Mobile have agreed to change the details for their new merger should be finalized shortly. The new amendment will allow Germany’s Deutsche Telekom to hold much more control in the newly-formed company.Sprint and T-Mobile Agree to ChangesAccording to the new...

The largest electronic commerce company in South Korea Coupang Corp. is launching IPO (Initial Public Offering) in 2021. The company has declined to provide any comments on the news, but those familiar with the matter state that the information is accurate.It is notable that some consider Coupang as an unprofitable company. However, it attracts investors and expands its services. It is also seen as a strong rival by South Korea’s biggest food delivery app Woowa Brothers Corp. that sold an 87%...

The U.S.-based provider of shared workspaces for technology startups and services for other enterprises WeWork sells Managed by Q unit acquired earlier this year. As the company’s spokesperson stated, the sum of purchase made up about $220 million at that time, however, now the deal will cost less than a quarter of this price.According to Bloomberg, the decision to sell Managed by Q results from WeWork’s need to cut its costs and unload assets. Currently, WeWork is in private talks with...

OneConnect Financial Technology which is the artificial intelligence and blockchain arm of Ping An Insurance that is easily one of the largest insurance firms in China has come forth with the terms for its IPO valued at $468 Million. Sources indicate that based on the F-1 Filing of its prospectus with the United States Securities and Exchange Commission (SEC), the firm intends to conduct the initial public offering which is aimed at raising between $432 million and $504 million via issuing...

Now, we all know SoftBank for its “unicorn status” investment decisions and so it shouldn’t come as a surprise to many that the investment giant has participated in a Series A round of funding for Accel Robotics which is a San Diego-based startup that has been involved in the cashierless space for a bit now. The funding round also attracted other investors including Toyo Kanetsu Corporate Venture Investment Partnership, RevTech Ventures and New Ground Ventures.Accel Robotics and other...

As we are coming to the year’s end we somehow always tend to look in the past to reconcile what was good and what wasn’t. Speaking of the IPOs, we can surely say this year was marked by numerous IPO failures with more than half of stock market debuts now trading below their initial offering.We can just mention hail-raiding companies as are Uber and Lyft who were probably the biggest losers of the year. However, there were also plenty of unicorns that got smashed in 2019 including Peloton (the...