SoftBank reports strong growth, considers parking funds in Uber or Lyft
Tokyo — SoftBank Group, a prolific investor in global technology startups, reported on Monday a sharp rise in quarterly profits and said it would be interested in parking funds in ride-hailing firms Uber Technologies or Lyft in the future. This is the first time Softbank has publicly indicated an interest in Uber, after having so far put funds into its rival Grab in Southeast Asia and China’s Didi Chuxing. Last month, a media report said Uber shareholders and its board were mulling a stock sale to SoftBank and other investors. "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 said at SoftBank’s first-quarter earnings briefing on Monday. SoftBank said its quarterly operating profit rose 50% from a year ago to ¥479bn ($4.32bn) after it included Vision Fund, the ...
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