SoftBank has shown interest with regards to investment in the potentially powerful market related to ride-hailing services in the U.S.A. Its top ranking executive Masayoshi Son seems eager to invest in the dominant brands like Uber Technologies Inc or its chief competitor Lyft Inc.
It is lucid and evident that Masayoshi is all set to make the move related to funding. Previously, SoftBank had been bankrolling Uber’s chief rivals in Asia encompassing China’s Didi Chuxing, Ola from India and Southeast Asia’s Grab. Previously this was wrongly conceptualized that Son had been involved in ventures to create an anti-Uber stable of ride hailing services.
However, the previous month, the rumors were rife that SoftBank by purchasing shares from the associated investors is reportedly looking to acquire a stake in Uber. Before the emergence of this aforementioned news, a news surfaced in May noting that a top ranking executive in SoftBank had meetings with the President of Uber’s rival Lyft. It is evident and transparent that the business tycoon from Japan wants to enter the U.S. market by any means.
After a status announcement related to income on Monday, the Chairman and CEO of SoftBank noted that the brand is open for talks with Uber and also with its rival Lyft as well. He stated additionally that although which methodology was to be implemented, surely the US market has a big potential and is the prime most market related to which we want to make a mark in.
These comments are generally normal when used by executives where such daring announcements serve to dumbfound and surprise the associated rivals and the partners as well. And it was clear that Masayoshi did not reveal as to whether the investment will be carried out by the business organization or through the proposed $ 100 billion SoftBank Vision Fund. The tycoon is also noted to be interested in investment with competitors from the Indian e-commerce market as well.
As revealed previously, Son said that he was open to discussions regarding investment with both Uber and Lyft concurrently.
He noted that irrespective of whom the brand chooses to partner and invest, he is not bothered or enlightened with respect to the outcome but that it is really eager and excited to take the step forward. Further, he added that they are plunging into the proposal behind the dealing and would have detailed discussions with Uber and Lyft regarding the same.
He quoted that SoftBank is taking the daring plunge into the investment because of the potential associated with the ride hailing services and self-driving technologies. Such an autonomous car will soon hit the markets and this where the ride sharing enterprise blooms into becoming more important as per his perception.
