With Uber shares trading at a record low, SoftBank's massive investment in the ride-hailing company is looking shakier by the day.
At under $30.70, where Uber closed on Tuesday, the stock is below the lowest point at which SoftBank invested. The Japanese conglomerate spent about $6.6 billion to buy just over 200 million shares from existing investors, including former CEO, at around $32.87 a piece. It provided another $1.05 billion in fresh capital to Uber, buying 21.45 million shares at about $48.77 each.
In total, SoftBank invested $7.65 billion. That stake, when factoring in the $245.3 million in shares SoftBank sold in the IPO, is currently worth less than $7 billion.for the three months ended June 30. The company recorded unrealized losses of 195.3 million yen for "the decrease in the fair values of investments in Uber and others."
The $100 billion Vision Fund held 81 investments at the time of that report with costs totaling $66.3 billion and a current fair value of $82.2 billion, SoftBank said. It highlighted, DoorDash and India's OYO as three investments that have increased in value.
As part of its investment, SoftBank was granted two board positions at Uber, which were slated to go to Marceo Claure, the company's operating chief and executive chairman of
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