SoftBank, one of the world’s leading technology investors, has reported a record net loss of $6.3 billion in its Vision Fund business. The loss includes an impairment loss of $4.6 billion, primarily related to its investments in WeWork, Uber Technologies, and other Vision Fund portfolio companies. SoftBank’s Vision Fund business is a technology-focused venture capital… Continue reading SoftBank posts
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SoftBank sues IRL over ‘elaborate scheme’ that swallowed $150M
SoftBank has recently filed a lawsuit against a UK-based immersive robotics company called IRL which stands for In Reality Limited. The lawsuit alleges that the company took part in a “massive and elaborate” international fraud scheme to fraudulently obtain more than $150 million from SoftBank’s Vision Fund. The lawsuit alleges that IRL, started by serial… Continue reading SoftBank sues IRL over ‘elaborate scheme’ that swallowed $150M