SoftBank released their first quarter financial results this morning.  Quarterly operating profit increased by 50 percent

SoftBank may invest in Ride-Sharing Company

SoftBank may invest in Ride-Sharing Company

 SoftBank may invest released their first quarter financial results this morning.  Quarterly operating profit increased by 50 percent

 SoftBank may invest  released their first quarter financial results this morning.  Quarterly operating profit increased by 50 percent compared to a year ago to $4.32 billion (479 billion yen) after private equity fund, Vision Fund increased by 105-billion-yen due to its stake in chip-maker NVIDIA Corp. (NASDAQ: NVDA)

According to CNBC, SoftBank may invest in a ride sharing company such as Uber or Lyft.  In the company’s press release that reported financial results, SoftBank exercised the thought of investing in a ride sharing company.



 SoftBank may invest

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Previously in July, a report claimed that Uber shareholders and those on its board were considering a stock sale to SoftBank.  This is SoftBank’s first public indication of an interest in Uber.  “We are interested in discussing with Uber, we are also interested in discussing with Lyft, we have not decided which way,” SoftBank’s CEO and founder Masayoshi Son said.  “Whether we decide to partner and invest into Uber or Lyft, I don’t know what will be the end result,” he told reporters at SoftBank’s first-quarter earnings briefing on Monday.

“There are multiple possible business consolidation partners and negotiations are ongoing,” Son said. He did not comment further as an announcement was likely in the “near future”.Like up on FACEBOOK




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