Why SoftBank invested $2.25 billion in Cruise

Why SoftBank invested $2.25 billion in Cruise

6 years ago
Anonymous $2WKDXfy9lA

https://techcrunch.com/2018/05/31/why-softbank-invested-2-25-billion-in-cruise/

Earlier today, General Motors’ Cruise received a $2.25 billion investment from SoftBank’s Vision Fund. Once that deal closes, GM will invest another $1.1 billion.

SoftBank landed on Cruise because it’s one of “a handful that in our view have a meaningful opportunity in front of them,” SoftBank Vision Fund Managing Partner Michael Ronen told TechCrunch. Cruise’s integrated play of hardware and software attracted SoftBank, Ronen said, as well as the fact that Cruise’s spirit, creativity and energy “has not been diminished at all.”