Given Masayoshi Son’s vision of a future driven by AI and interconnected vehicles and its spread of investments in ride hailing and ride sharing companies in major markets of the world, including in India’s Ola and China’s Didi, and given Uber’s pioneering drive in this segment, its investment in the company is likely to be a foregone conclusion.
On Tuesday, SoftBank Group Corp stated it was weighing its options of investing in Uber Technologies Inc.
A final agreement on this decision has not yet been reached.
“If conditions on share price and a minimum of shares are not satisfactory for the SoftBank Group side, there is a possibility the SoftBank Group may not make an investment,” said the Japanese firm in a statement.
Uber had earlier disclosed that a deal with SoftBank and Dragoneer Investment Group was in the offing. According to sources familiar with the matter at hand, the investment could worth up to $10 billion.
SoftBank and Dragoneer are leading a consortium that plans on investing $1 billion to $1.25 billion in Uber along with a plan of purchasing upto 17% of the company’s existing share.
The negotiations saw progress after Uber’s former CEO Travis Kalanick and early investor, capital firm Benchmark, which has a seat in Uber’s board, reached an agreement on the terms of SofBank’s planned investment.
SoftBank has spread its investment in ride sharing and ride hailing firms across the globe: it has a stake in India’s Ola as well as in China Didi.
These investments are driven by SoftBank’s founder Masayoshi Son’s vision of a future where artificial intelligence and interconnected devices, including vehicles, play a significant role.