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Uber Confirms Billion Dollar Deal With SoftBank

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Uber Confirms Billion Dollar Deal With SoftBank,Startup Stories,Business Latest News 2017,Uber Confirms SoftBank Investment Deal,Former CEO and Founder Travis Kalanick,Chief Executive Officer of Softbank,Uber Seals Investment From SoftBank,Uber and SoftBank Latest News

Uber the cab hailing startup, confirmed the company will receive a huge investment from SoftBank and other investors in the coming months.  Dragoneer Investment Group will lead the consortium to invest $ 1 billion to $ 1.25 billion in Uber. The venture capital firm will also buy up to 17% of the existing shares from investors and employees in a secondary transaction.  This investment could help resolve the on going legal battle between former CEO and founder Travis Kalanick and early investor, Benchmark.

In a statement released by Uber, the company confirmed the agreement with a consortium led by SoftBank and Dragoneer on a potential investment. “We believe this agreement is a strong vote of confidence in Uber’s long term potential. Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance,” the statement further said.

Although the Uber board approved this investment a month ago, negotiations stalled due to the ongoing legal battle between Travis Kalanick and Benchmark. TechCrunch reported this round of investment will be labeled as an extension of its last Series G round. Bloomberg reported Dragoneer Investment Group, General Atlantic and SoftBank will directly invest $ 1 billion into Uber. This investment round will value the company at $ 70 billion. Along with directly investing into Uber, SoftBank will also purchase up to $ 9 billion worth of stock from existing Uber shareholders. These shares will be brought through a process called the tender offer which can take up to a month to complete. 

However, if investors refuse to sell their stock or if SoftBank is unable to secure 14% of Uber’s stock, SoftBank will have the option to walk away from the deal. In an attempt to locate the majority of the investors, SoftBank plans to buy newspaper advertisements to help spread the word that the tender offer will be launched soon.

As a part of the deal, Uber has agreed to undergo a series of sweeping changes in its governance including measures that reduce the influence of Travis Kalanick and other leadership changes. With shareholders selling billions of dollars worth of shares, this investment deal is slated to be the largest secondary transaction in history. The current Chief Executive Officer of Uber, Dara Khosrowshahi also said the company plans on going public by next year.

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Apple Achieves 13% Growth in India with $9 Billion Sales and New Flagship Stores in FY25

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Apple has set a new benchmark in India, recording $9 billion in annual sales for FY25—a 13% surge over the prior year, fueled chiefly by robust demand for iPhones and MacBooks. The tech giant’s strategic expansion into Bengaluru and Pune with new flagship stores has deepened brand engagement and increased accessibility for customers across urban centers.

Apple’s rapid retail footprint expansion and locally tailored initiatives, including student discounts and trade-in offers, overcame price barriers and high import duties to drive sales volumes to unprecedented heights. Meanwhile, local production reached new highs, with 20% of iPhones now assembled in India and manufacturing output up 60%, valued at $22 billion part of Apple’s move to diversify its global supply chain.

India is now Apple’s fourth-largest market worldwide, reflecting its rising role as both a consumption and manufacturing powerhouse for premium tech. Continued investment in retail outlets, partnerships with Tata for device repairs, and consumer-friendly financing have positioned Apple for even stronger growth as Indian incomes and technology aspirations rise.

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OYO Achieves Record Profitability in FY25 with Deferred Tax Boost and New Corporate Identity

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OYO, India’s leading hospitality startup, has retained strong profitability in FY25, driven by a significant deferred tax gain and a bold corporate identity overhaul. The company’s net profit surged to ₹623 crore, marking a 172% year-on-year growth, with adjusted EBITDA reaching ₹1,132 crore a 27% increase from the previous fiscal. Total revenue rose by 20% to ₹6,463 crore, propelled by strategic expansion in premium segments and the integration of G6 Hospitality into OYO’s growing portfolio.

The deferred tax gain of ₹765.6 crore played a crucial role in OYO’s profitability for FY25, helping overcome challenges from operational losses and global expansion costs. Meanwhile, OYO launched a campaign to rename its parent company, Oravel Stays Ltd, aiming for a tech-first, globally resonant brand identity as the business prepares for its IPO. This rebranding signals OYO’s shift toward broader urban living solutions, with the “OYO Hotels” brand remaining unchanged for consumers while the corporate entity targets premium and tech-driven markets worldwide.

OYO’s premiumization strategy and aggressive international growth have led to record results for the fourth quarter of FY25, with gross booking value surging 54% to ₹16,436 crore and revenue hitting new highs. These achievements highlight OYO’s disciplined financial management and commitment to innovation, setting a benchmark for Indian startups navigating global expansion and sustained profitability in the hospitality technology sector.

 

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MPL to Lay Off 60% of India Workforce Following Online Gaming Ban

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MPL

Mobile Premier League (MPL), one of India’s top online gaming platforms, is set to lay off about 60% of its India workforce following the government’s ban on paid online games. The move, confirmed by MPL CEO Sai Srinivas through an internal email, will impact around 300 employees across multiple departments including marketing, finance, operations, engineering, and legal. This decision comes as a direct result of the Promotion and Regulation of Online Gaming Bill, 2025, which restricts paid online games involving monetary stakes to address concerns over financial risks and addiction among young users.

India contributed nearly half of MPL’s revenues, estimated at around $100 million in the 2024-25 fiscal year. With the ban on paid gaming, MPL’s primary revenue source in India has been effectively cut off, prompting the company to shift focus towards free-to-play games and expand its presence in overseas markets such as the United States and Brazil. Despite the layoffs, MPL has pledged to support the affected employees through the transition period. CEO Sai Srinivas expressed regret over the downsizing but highlighted the company’s commitment to developing new business models for the Indian market amid the regulatory changes.

This development significantly disrupts the Indian online gaming industry, which was on track to grow into a $3.6 billion sector by 2029 before the introduction of the ban. While competitors like Dream11 have adapted by discontinuing paid games and avoiding layoffs, the ban has forced many gaming startups in India to rethink their operations. The government’s regulation targets all games involving real money stakes, including fantasy sports and popular card games like rummy and poker, reshaping the future landscape for the country’s gaming ecosystem and its workforce.

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