Tag: DoorDash

FinTech Crisis: SoftBank Vision Fund Records $32B Loss Due To Startups’ Valuation Reduction

FinTech Crisis Charlene Lensburg - May 12, 2023

SoftBank Vision Fund, the prominent global investor in tech startups, reported a significant loss of $32 billion for the financial year ending in March. This represents a 70% increase in losses compared to the previous year. The losses are due to valuation corrections across SoftBank's portfolio of tech companies, influenced by a weakening global economy. The fair value of its portfolio was marked down over the quarter by $2.3 billion to $138 billion.

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