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One of the leading investors Globally is finding it difficult to bring ease in doing business with two of the taxi app competitor at the same time. SoftBank has more than 30% stake in Ola and is looking to buy some stake in Uber.
Rajeev Misra CEO of $100 Billion Vision Fund said “We own more than 30% in Ola and we would own much less stake in Uber. We have owned the stake in Ola since 2014 and it does send conflicting signals. But we are hoping that we make peace between them at some point,”
Softbank has been eyeing to take stake in Uber since a long time. With the current Crisis that Uber has been going through where in the company had to surrender to its competition in Russia, Softbank eyed to possibly take some stake in Uber but all in vain. As per a recent report by Recode, SoftBank offered to buy stake at a valuation of $45 Mn, while Benchmark does not consider it less than $100 Bn in any case. “SoftBank has begun approaching other investors besides Benchmark in a continuing effort to acquire a piece of Uber,” added the media report.
Softbank had to hurry up as the market speculations around Uber to soon over come with the current leadership crisis with the onboarding of its new CEO Dara Khosrowshahi is high and if things happen as predicted, Softbank may lose a great opportunity both strategically and financially.