July 8, 2020
AliExpress WW
Masayoshi Son resigns from board of Alibaba; defends SoftBank Group’s investment strategy – TechCrunch

Masayoshi Son resigns from board of Alibaba; defends SoftBank Group’s investment strategy – TechCrunch

AliExpress WW

Softbank Group founder Masayoshi son said on Thursday that he was leaving the council Jack ma Chinese e-commerce giant Alibaba Group today, one month after Ma left the board of the Son Technology Group,

AliExpress WW

The son said that he sees the movement as “ending” Alibaba group’s Board, his most successful investment to date, as he quickly began to defend the investment strategy of the Japanese group, which in recent quarters has been the subject of close attention and public bullying.

Sleep said his conglomerate had recovered to the level preceding the outbreak of coronavirus. The firm benefited from the growing value of the Alibaba Group and its stake in Sprint after the merger of the carrier with T-Mobile. Son said that his company’s rate of return on the Internet (or IRR, a popular indicator used by VC funds to demonstrate their effectiveness) is 25%.

At today’s meeting of shareholders, he said that he was worried that many people thought that SoftBank was “finished” and called it “SoftPunku”, the spoken language used in Japan, which means “a broken thing”. Together, the shareholder value of SoftBank is currently $ 218 billion, he said.

Dream insisted that he was leaving the Alibaba Group’s council, the position he had held since 2005, in a good relationship and that there was no disagreement between him and Ma.

Son’s move followed Jack Ma, who co-founded the Alibaba Group, leaving the SoftBank board last month after taking office for 13 years. The son invested 20 million dollars in Alibaba 20 million years ago. Earlier this year, SoftBank still held $ 100 billion worth of shares in Alibaba.

A number of recent SoftBank investments have scared the investment world. The company, known for issuing large checks, has publicly stated that its investment in the giant Uber office manager We are working, and a number of other startups did not provide the return he was hoping for.

In addition, some of these firms, including Oyo, a budget Indian startup, have severely affected by a pandemic,

The dream, which raised $ 20 billion by selling a stake in T-Mobile, said that after taking into account its other recent transactions, SoftBank had accumulated $ 35 billion, or 80% of the total planned investment payload.

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