With today’s IPO sinking, a year of highs and lows for SoftBank116.67

If there was a word that dominated startup and tech news coverage this year, it was SoftBank. The Japanese telecom conglomerate’s Vision Fund pushed out a prodigious amount of capital this year — quite literally billions of dollars — into companies as diverse as a molecular manufacturer (Zymergen) and a robotic pizza delivery business (Zume Pizza). It was a year of highs as its Flipkart transaction produced billions in returns, as well as a year of incredible lows, what with the crisis over Saudi Arabia’s murder of Jamal Khashoggi. Saudi Arabia is the largest investor in the Vision Fund.

But the Vision Fund is only part of the SoftBank story this year. The company’s mobile unit started trading today on the Tokyo Stock Exchange (ticker: 9434), the second largest IPO of all time after Alibaba, raising $23.6 billion. But after weeks of pushing the stock to Japanese retail stock investors, those same consumers dumped the stock upon its debut, dropping by 15% from its debut at ¥1,463 to its close at ¥1,282. That’s the second worst IPO performance this decade for a Japanese company.

Original source
https://techcrunch.com/2018/12/19/softbank-year-in-review/

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