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OpenAI allows employees to sell shares worth $1.5 billion to SoftBank

Economic Times

Economic Times · 8m ago

OpenAI allows employees to sell shares worth $1.5 billion to SoftBank

Softbank is set to acquire shares worth $1.5 billion from OpenAI employees, allowing the Japanese tech conglomerate to increase its stake in the AI company. Employees have the opportunity to liquidate their shares, with Softbank's founder and CEO Masayoshi Son driving the deal. Son has shown a keen interest in the AI sector and is focused on backing valuable private players in the space. This move reflects Softbank's strategy to deploy capital into businesses with high cash requirements. The generative AI market is predicted to reach $1 trillion in revenue over the next decade, with OpenAI's rivals, such as Anthropic and Google, ramping up their efforts. Softbank's India portfolio already boasts successful firms like FirstCry, Ola Electric, Swiggy, and Unicommerce.

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HNIs line up as SoftBank offloads stake worth $310 Mn In IPO-bound FirstCry

Inc42 · 1y ago

HNIs line up as SoftBank offloads stake worth $310 Mn In IPO-bound FirstCry

Japanese tech investor SoftBank has reportedly sold a portion of its stake in FirstCry, an IPO-bound ecommerce unicorn, for $310 million. The shares were acquired by several high-net-worth individuals (HNIs), valuing FirstCry at a range of $3.5 billion to $3.75 billion. SoftBank still holds shares worth $800 million to $900 million, which it plans to sell at a later date. SoftBank aims to bring its stake in the company below 26% to avoid being classified as a promoter. FirstCry is preparing to file its draft red herring prospectus (DRHP) by December 29 for an IPO, targeting a valuation of $4 billion.

SoftBank, TPG, PremjiInvest, NewQuest to make partial exit in FirstCry IPO

VCCircle

VCCircle · 1y ago

SoftBank, TPG, PremjiInvest, NewQuest to make partial exit in FirstCry IPO

Indian baby products retailer FirstCry's IPO will see major stakeholders, including SoftBank, TPG, PremjiInvest, and NewQuest, sell part of their stakes. SoftBank, the largest shareholder, will sell around 20.32 million shares, while TPG and NewQuest plan to offload approximately 3.9 million and 3 million shares respectively. PremjiInvest will sell 8.6 million shares. The IPO will also include fresh shares worth $218 million being issued by FirstCry. The funds raised will be used for expansion and business growth.

Jeff Bezos to sell up to 50 million Amazon shares by January 2025

Economic Times

Economic Times · 1y ago

Jeff Bezos to sell up to 50 million Amazon shares by January 2025

Jeff Bezos plans to sell up to 50 million Amazon shares by January 2025. This move by the Amazon CEO is part of his previously announced intention to fund his space exploration company, Blue Origin. The sale of shares, worth approximately $1.5 billion at the current stock value, is expected to provide the necessary funds for Bezos' ambitious space exploration goals.

Musk denies report of SpaceX's share sale at $200 bn valuation

Money Control

Money Control · 1y ago

Musk denies report of SpaceX's share sale at $200 bn valuation

SpaceX is planning a tender offer, a transaction that allows employees and other insiders to sell shares, that could value the company at around $200 billion, Bloomberg reported. "SpaceX has no need for additional capital and will actually be buying back shares. We do liquidity rounds for employees and investors every...six months," CEO Elon Musk said denying the report.

OpenAI allows staff to sell shares at $86 bn valuation: Report

Inshorts · 1y ago

OpenAI allows staff to sell shares at $86 bn valuation: Report

OpenAI has completed a deal allowing its employees to sell the startup's shares, Bloomberg reported. The tender offer valued OpenAI at $86 billion, making it one of the most valuable startups globally. The share sale, which was led by Thrive Capital, was previously scheduled for last year but was delayed following CEO Sam Altman's ouster from OpenAI in November.

SoftBank took home $1.8-1.9 billion from four listed portfolio companies

Economic Times

Economic Times · 1y ago

SoftBank took home $1.8-1.9 billion from four listed portfolio companies

SoftBank, despite refraining from new startup funding in India, still holds $1.1-1.2 billion in shares from its listed portfolio companies. The Japanese investor has sold $1.8-1.9 billion in stakes through public offerings and post-listing sales in Indian startups like Paytm, Zomato, PB Fintech, and Delhivery. SoftBank's strategy aligns with a slowdown in new investments, focusing on secondary sales. With upcoming IPOs of Ola Electric and FirstCry, SoftBank is set to sell stakes worth approximately $180 million and $45-50 million, respectively. SoftBank has invested $15 billion in India, playing a significant role in over 100 unicorns.

SoftBank raises $4.8 billion from T-Mobile share sale, term sheet shows

Economic Times

Economic Times · 1m ago

SoftBank raises $4.8 billion from T-Mobile share sale, term sheet shows

SoftBank raised $4.8 billion by selling 21.5 million T-Mobile shares at $224 each, a slight discount to the closing price of $230.99. Despite the sale, SoftBank remains T-Mobile's second-largest shareholder behind Deutsche Telekom. Prior to the sale, SoftBank owned 7.52% of T-Mobile, valued at approximately $22.76 billion. The sale follows SoftBank’s acquisition of T-Mobile shares worth $7.59 billion after merging its U.S. telco Sprint with T-Mobile.

OpenAI deal lets employees sell shares at $86 billion valuation

Livemint

Livemint · 1y ago

OpenAI deal lets employees sell shares at $86 billion valuation

OpenAI has allowed its employees to sell shares in the company at a valuation of $86 billion, making it one of the most valuable startups. The deal was led by venture capital firm Thrive Capital and was previously delayed due to the ousting of the CEO. OpenAI is also considering raising new funding that could further increase its valuation to over $100 billion. The company recently unveiled Sora, a text-to-video generator.

SoftBank-backed Ola Electric's IPO attracts $2 bn of bids from big institutions

VCCircle

VCCircle · 1y ago

SoftBank-backed Ola Electric's IPO attracts $2 bn of bids from big institutions

Ola Electric, backed by SoftBank, received over $2 billion in bids from big institutions ahead of its initial public offering (IPO). The IPO aims to raise $734 million and has already allocated shares to institutions such as Nomura, Norges Bank, SBI Mutual Funds, and HDFC Mutual Funds. Ola Electric plans to sell shares in the range of 72-76 rupees, targeting a valuation of $4 billion. The IPO is set to open for retail investors and eligible employees on Friday and close on Tuesday.

OpenAI valued at $80 billion following deal that allows staff to cash out their shares, report says

Business Insider

Business Insider · 1y ago

OpenAI valued at $80 billion following deal that allows staff to cash out their shares, report says

OpenAI, the AI firm, has completed a deal that values the company at $80 billion or more. The deal, led by venture capital firm Thrive Capital, involves a tender offer allowing OpenAI employees to sell their shares in the company. This follows a previous deal that valued OpenAI at $29 billion. OpenAI has been a key player in the AI industry and recently unveiled its latest AI tool, "Sora," which generates realistic videos based on text prompts. The company aims to gather external feedback and give the public a glimpse of future AI capabilities.

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