SoftBank is considering doubling down on existing software portfolio firm Icertis in India. The talks are in early stages and the valuation and price are yet to be finalised. SoftBank’s Vision Fund is also planning to invest in Meesho, an ecommerce firm, as part of a broader funding round. SoftBank and Tiger Global have been cautious in making new bets since last year.
SoftBank Group recorded a $5.2 billion quarterly loss, its fourth consecutive quarter in the red. The loss is attributed to the bankruptcy of WeWork, a risky investment. The founder’s strategy of betting big on start-ups has proven volatile. However, SoftBank remains optimistic about its future profitability and plans to focus on artificial intelligence. Its Vision Fund continues to generate investment profits. Chip designer Arm is expected to drive the company’s value.
Customers of Arm Holdings Ltd including Apple Inc, Nvidia Corp, Alphabet Inc and Advanced Micro Devices Inc have agreed to invest in the chip designer’s initial public offering. SoftBank Group Corp, which owns Britain-based Arm, is targeting a valuation between $50 billion and $55 billion. Arm’s clients have agreed to invest in that valuation range, the sources said.
SoftBank’s Arm is planning to seek a price range of $47 to $51 per share in its upcoming initial public offering (IPO). The IPO, which is expected to take place on the London Stock Exchange, could value Arm at up to $44 billion. Arm, the British chip designer, is a subsidiary of SoftBank.
