news24xx.com
Wednesday, 27 May 2020

Danger! 15 Unicorn startups threatened with bankruptcy due to Corona

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News24xx.com - Still about Masayoshi Son and Softbank, Japanese technology giants, and investors in many high-class startups. Softbank has just suffered a huge loss due to the poor performance of the startups they fund, even the situation could get worse.

Softbank Vision Fund injected investment in around 88 startup companies totaling USD 75 billion. Well, Softbank admitted that 15 startups with unicorn status that they funded could go bankrupt because of the crisis caused by the Corona pandemic.

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However, Masayoshi Son as CEO of Softbank did not mention what unicorn startup has the potential to go bankrupt. Even so, he remains optimistic there are still startups that will fly.

Vision Fund, recorded a loss of 1.9 trillion Yen or equivalent to Rp. 262 trillion (exchange rate of 1 Yen = Rp. 138.05). The loss was due to investments that did not produce results, for example at WeWork and Uber startups, both of which were also badly affected by the Corona pandemic.

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Son also claimed to be more careful about disbursing money. Nevertheless, he still sees a brighter future. For example, startup Oyo rental rentals can benefit if more and more hotels join their platforms.

Regarding online taxis, he admitted Uber was still experiencing a difficult situation in the United States. But Didi in China began to recover as the lockdown was opened there. "I hope other companies do too," he hoped.





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