SoftBank Vision Funds sells $2 billion worth of shares
- ByStartupStory | November 1, 2021
The global investment firm, SoftBank Inc. has sold $2 billion worth of shareholding of the company in the food delivery giant DoorDash.
Masayoshi Son, has shown a new appetite for exits to finance the accelerating pace of deal-making at his Vision Fund investment arm. Over the past six months, the firm has sold off significant portions of its stakes in major companies like DoorDash, Coupang Inc (South Korean e-commerce giant) and KE Holdings (Chinese online Property holding).
The latest sale of stake in DoorDash leaves SoftBank Inc, with only 11% stakes in the food delivery company which is half of the stakes it held when the company was listed in December. The amount thus acquired through the sale of shares was utilised to take loan which has thus helped investors from Abu Dhabi and Saudi Arabia.
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