SoftBank acquires a 20 percent stake in Uber

Sean O’Kane, writing for the Verge;

Japanese tech giant SoftBank Group has bought a 20 percent stake in Uber, completing a months-long process, according to the Wall Street Journal. The move drops Uber’s value by about 30 percent from around $70 billion to $48 billion — a reflection of the trouble that the ride-hailing company has experienced across 2017.

Softbank will soon own a piece of every tech company in silicon valley. 🙂