SoftBank in Talks with Revolut and GM’s Q2 Results
SoftBank
SoftBank is a Japanese multinational conglomerate holding company headquartered in Minato, Tokyo. The Group primarily invests in companies operating in the technology, energy, and financial sectors. SoftBank has a portfolio that includes SoftBank BB, GungHo Online Entertainment, IDC Frontier, and more. In the past few years, SoftBank has spent even more money and bought many smaller companies.
Recently SoftBank has been working with another company, Revolut, which has asked investors at SoftBank’s Vision Fund 2 to submit proposals for an investment of between $750 million to $1 billion with a deal expected to be “some weeks” away. The SoftBank Vision Fund 2 has seen support from firms such as Uber Technologies as well as the buy-now-pay-later platform Klarna. Overall, it is a large fund with lots of investing power.
GM
General Motors Company is an American multinational corporation headquartered in Detroit, Michigan that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services, with global headquarters in Detroit’s Renaissance Center.
In the past year automakers such as GM have had to deal with the global semiconductor shortage which has affected auto production greatly and constrained U.S. sales although the demand for vehicles has been strong. However, some automotive manufacturers have fared better than others. For example, GM saw fewer losses by making strategic moves to cut out cars with low-profit margins as well as prioritizing the use of its limited semiconductor inventories to maximize production of its high-margin full-size pickups. By doing this GM was able to beat out Ford in sales for Q2.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.
