SoftBank Is Betting Big on U.S. Tech Megacaps
Japanese tech conglomerate SoftBank (OTC: SFTBY) is trying to rehabilitate its reputation after the company became widely mocked following the spectacular implosion of WeWork's planned IPO last year. The current state of that saga is that SoftBank has invested nearly $20 billion to own less than 100% of a company now worth around $3 billion, with SoftBank COO Marcelo Claure presently serving as WeWork chairman and trying to engineer a turnaround.
Following the headaches from investing in private start-ups -- SoftBank had invested in Uber when it was private and is still in the red on that position -- SoftBank is diversifying into big U.S. tech companies.
SoftBank just invested $1.2 billion in Amazon. Image source: Amazon.
Source Fool.com
