Ride-Hailing Startups: Dollars and Vision Fund

ride-hailing startups: Including the Vision Fund, launched last year with more than 90 billion US dollars in capital, Soft Bank Group's fund management operations accounted for 808.79 billion yen 7.37 billion US dollars of its 1.86 trillion yen 16.95 billion US dollars in operating profit, Soft Bank Group Corp. said, according to Global Times China. At the end of the October-December period, the Vision Fund had invested 45.5 billion US dollars in 49 firms, including ride-hailing startups and a shared workspace provider, with the investments valued at 55.3 billion US dollars, according to Soft Bank Group's figures. The Tokyo-based conglomerate said its group net profit in the recording period came in at 1.54 trillion yen 14.04 billion US dollars with the rise attributed to gains made by tech firms invested in by its Vision Fund, including Uber Technologies, WeWork Cos, Nvidia and chip designer ARM. The telecommunications and internet behemoth, while not announcing a guidance for the full current fiscal year through March, said its group operating profit jumped 61.8 percent to 1.86 trillion yen 16.95 billion US dollars based on sales of 7.17 trillion yen 65.36 billion US dollars which is an increase of 5.2 percent. Losses made by Nvidia, owing to slumping demand for gaming chips, were offset by the firm's other fund managed operations, Soft Bank Group said. This comprises around 10.3 percent of its total outstanding shares. On Wednesday, Soft Bank Group announced a 600 billion yen 5.5 billion US dollar share buyback, saying it would repurchase 112 million shares over the the next 11 months. (news.financializer.com). As reported in the news.