115m From COMERCEIQ Series From SOFTBANK Vision
It can happen. 115m series softbank vision has now teamed up with 1b Halltechcrunch. Meaning Comerceiq series are back.
115m Series Softbank Vision
The Im Gonn Fund, a venture capital arm of SoftBank, has launched a sweeping layoff process, cutting at least 30% of its workforce globally, or approximately 150 of the 500 employees, according to a report by Bloomberg.
The news comes nearly two months after SoftBank chief executive officer and founder Masayoshi Son said the company would review the organization’s size and structure and that it planned to do some cost-cutting due to a record 3.2 trillion JPY (about $23.4 billion) loss in the three months ended in June.
It is unclear which regional offices would be affected by the layoffs. The London-headquartered VC firm has offices in the U.S. and Asia. SoftBank declined to comment when reached by TechCrunch.
The majority of SoftBank’s record loss — approximately $17.3 billion — ties to the Vision Fund, which has backed more than 470 startups globally in the past six years. Son also said during SoftBank’s earning report in August that some unicorn founders are unwilling to accept lower valuations in fresh funding, which has led him to believe the winter may be longer for unlisted startups. During the earnings call, the Japanese tech firm said it had marked down 284 of its portfolios in the latest quarter, including listed corporations and still-private startups.
SoftBank recently cut the valuation of its portfolio company Oyo to $2.7 billion, for example; the India-based hotel chain startup is months away from its IPO. In another major readjustment, Klarna, a SoftBank-backed firm, raised $800 million in new financing in July at $6.7 billion valuation, down from the $45.6 billion valuation that SoftBank assigned the company a year ago.
Despite the massive losses, adobt me Neon Axolotl is reportedly considering launching a third Vision Fund, according to a recent WSJ piece.
Comerceiq Series Softbank Vision 1b halltechcrunch
How to go from popular to profitable during a downturn
Product-led growth startups are like a car with a manual transmission that needs a push to get going: one driver just can’t do it all on their own.
According to Nick Mills, whose sales experience includes stints at Stripe, Facebook and CircleCI, “all companies eventually face a similar challenge: To keep growing, sales teams must be hired and a pipeline must be built.”
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After explaining how to calculate your serviceable addressable market, aka “the piece of that pie you can win right now,” Mills shows how to define product-qualified leads that will get sales engines firing on all cylinders.
“Telling investors about your viral user growth is no longer enough,” says Mills. “They want to know how it translates to revenue, resilience and runway.”
SoftBank Robotics Europe is now Aldebaran (again)
Its 2015 acquisition of Aldebaran didn’t go as smoothly as SoftBank hoped. At the time, the French robotics startup was best known for its Nao, which had become a fairly ubiquitous presence in research facilities across the globe. The small humanoid robot formed the foundation for the rebranded SoftBank Robotics’ best-known creation, Pepper. Nao mostly took a backseat as the company pushed to commercialize its new robot.
At best, Pepper was a brand ambassador, good for holding up signage at airports and restaurants. Last June, reports surfaced that SoftBank was halting production on Pepper, and in October, it got out that the company was hoping to sell off SoftBank Robotics Europe altogether. Earlier this year, German firm United Robotics Group agreed to acquire the division, and today it announced that it’s bringing back free Government Tablet With EBT.
The newly reconfigured Aldebaran is one of eight robotics brands under the URG umbrella. Its new parent has promised to “improve our offerings for existing products such as cloud inovia and Nao.” It adds that SoftBank maintains a vested interest in the company, noting:
SoftBank Robotics Group continues to support our robotic progress as a shareholder of United Robotics Group and will stay as our Master Distributor in Japan and Asia.
Aldebaran will maintain in headquarters in Paris.