That’s the headline of my newest story, which I wrote with my colleage Mayumi Negishi, out today. It begins:
SoftBank Group Corp., the world’s biggest technology investor, has poured some $20 billion into ride-sharing companies around the globe, including Uber Technologies Inc.
Now, those companies are spending at least some of SoftBank’s money to battle each other.
In Japan, Uber is gearing up to fight China’s Didi Chuxing Technology Co., which is planning to enter the market after an investment by SoftBank of around $10 billion.
In India, Uber is facing off with local champion ANI Technologies Inc.’s Ola, in which SoftBank has about a 30% stake and a board seat. SoftBank invested $7.7 billion in Uber for a 15% stake this year.
Uber and Ola are also grappling in Australia, where Ola started operations in February. Uber in Southeast Asia is trailing Singapore’s Grab Inc., whose president joined from SoftBank in 2016 following its $750 million investment in the company.
Click through to read the rest.
- Newley’s Notes 124: Uber and SoftBank; How to Neuter your Smartphone; Mr. Rogers Breakdancing
- How Uber’s Racing to Add Drivers Here in India
- By Me Today: India’s Ola in Talks to Raise Up to $2 Billion
- Uber Agrees in Principle to Exit Southeast Asia for Stake in Rival
- New Story: As Allegations Swirl Around SoftBank, It Calls Them ‘Sabotage’