Uber’s share price has also suffered a more than 30% drop from the level at which the company went public, raising questions about the rest of SoftBank’s ride-hailing portfolio, which includes China’s Didi Chuxing Inc., India’s Ola and Singapore’s Grab. WeWork, a co-working giant into which Son has poured almost $11 billion, has had to delay what would have been one of the year’s biggest initial public offerings as the market balked at its inflated valuation and shaky governance. This one-two punch has helped erase the gains of SoftBank’s record $5.5 billion buyback eight months ago.
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Uber’s share price has also suffered a more than 30% drop from the level at which the company went public, raising questions about the rest of SoftBank’s ride-hailing portfolio, which includes China’s Didi Chuxing Inc., India’s Ola and Singapore’s Grab. WeWork, a co-working giant into which Son has poured almost $11 billion, has had to delay what would have been one of the year’s biggest initial public offerings as the market balked at its inflated valuation and shaky governance. This one-two punch has helped erase the gains of SoftBank’s record $5.5 billion buyback eight months ago.