November 07 - 13:11
Softbank reveals $6.5 billion loss, Uber and WeWork to blame
Softbank has revealed a $6.5 billion loss off the back of unsuccessful investments in Uber and WeWork. The Japanese company revealed the loss - it's first quarterly defunct recorded in 14 years - as part of an announcement that it had written down the value of its interests in WeWork and Uber. WeWork has imploded in recent months, with an IPO postponed its leadership team leaving the company.
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