SoftBank Wants to Get Onboard Uber and Lyft

  • SoftBank Wants to Get Onboard Uber and Lyft

SoftBank Wants to Get Onboard Uber and Lyft

But last month, reports emerged that SoftBank was looking to take a stake in Uber by buying shares from existing investors, according to people familiar with the matter.That was preceded by news in May that a SoftBank executive met with Lyft President John Zimmer.

SoftBank has also been rumoured to have expressed interest in merging with satellite broadcaster Dish Network, causing shares in both companies to spike.

"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. As part of an understanding between SoftBank, Flipkart and Tiger Global - Flipkart's largest stakeholder -post the acquisition of Snapdeal, the Japanese investor was expected to pump in primary and secondary capital that would not only enable Flipkart to keep rival Amazon India at bay, but also derisk Tiger Global's significant exposure to the company.

SoftBank CEO Masayoshi Son said he is interested in investing in Uber, but added that Uber's biggest US rival also has potential. So we are definitely very much interested in the U.S. market. Clearly Uber is the bigger of the two, with a valuation of more than $60 billion, compared to Lyft's $7.5 billion valuation. He did not comment further as an announcement was likely in the "near future".

Japanese tech giant SoftBank wants a piece of the US ride sharing market.

Sprint Corp (NYSE:S) has reportedly restarted merger talks with fellow mobile phone service operation T-Mobile US Inc (NASDAQ:TMUS), as Softbank's Masayoshi Son once again looks to generate a return on his sizable Sprint investment. However, Uber has been beset by controversies that SoftBank may not appreciate, while Lyft recently announced its hit one million rides a day. And when that stage comes, this ride sharing business be comes even more important.