Latest news with #WeWork
Bloomberg
5 hours ago
- Business
- Bloomberg
Silicon Valley ' s ‘ Tiny Team ' Era is Here
In the era of startup ' blitzscaling,' which lasted roughly from Facebook's IPO in 2012 until WeWork's bankruptcy filing in 2023, market capitalization and total capital raised were prized metrics. The ultimate milestone was reaching 'unicorn status' — a $1 billion valuation that was often accompanied by rapid hiring. These days, bragging rights are going to entrepreneurs who keep headcount the lowest.
Mint
2 days ago
- Business
- Mint
Mutual Fund Giant Wellington Looks to Break Into Business of Buying, Selling PE Stakes
(Bloomberg) -- Wellington Management Co., which is best-known for traditional stockpicking funds, is plotting a move into the fast-growing business of buying and selling private equity stakes. The money manager is in talks with potential hires to start a so-called secondaries arm to acquire illiquid positions from other investors, according to people familiar with the matter. The firm is working with an executive recruiter and told candidates about its plans, the people said, asking not to be identified because the information isn't public. A Wellington spokeswoman declined to comment. The firm, which oversees more than $1 trillion of assets, has its roots in managing mutual funds. Like other money managers, it's increasingly drawn to the $13 trillion private markets industry as the pool of publicly traded US firms shrinks. Traditional asset managers are also grappling with outflows and squeezed margins as clients leave mutual funds for cheaper index products. That shift — and the allure of higher fees — is reshaping managers that are best known for picking stocks and bonds. Wellington, which has a large institutional client base, has been investing in private equity for at least a decade and has also backed unicorns such as WeWork and Airbnb. In recent years, it has made a more aggressive push into private markets. The Boston-based firm hired a team of four fund managers from Pacific Investment Management Co. this year to start a private real estate credit platform as it aims to grow in private credit. By entering the secondaries market, Wellington would provide relief to investors that need cash because of a prolonged lull in deal exits. President Donald Trump's tariff war has further hobbled dealmaking, forcing yield-starved pensions to offload their stakes to secondhand buyers at discounts for cash. Meanwhile, elite universities are selling private-fund stakes to shore up cash in the face of threats to their tax-exempt status. New buyers are now stepping into the arena, betting that the secondaries industry could top past records. Exchange-traded fund giant BlackRock Inc., which struck deals to buy three private-markets firms in the space of a year, said in a recent report that it predicts that the secondaries market growth will accelerate. More stories like this are available on
Yahoo
4 days ago
- Business
- Yahoo
SoftBank seeks to raise $4.9 billion in T-Mobile share sale, Bloomberg News reports
(Reuters) -Japan's SoftBank Group Corp is looking to raise nearly $4.9 billion in an unregistered overnight block sale of T-Mobile shares, Bloomberg News reported on Monday. SoftBank is offering to sell 21.5 million shares for $224 to $228 each, Bloomberg said, citing the deal terms. Bank of America Corp is working on the deal. The sale represents a discount of more than 3% to T-Mobile's closing price of $230.99 on Monday, and the stake offered would represent about 1.9% of T-Mobile's outstanding shares, Reuters calculations showed. SoftBank and T-Mobile did not immediately respond to Reuters' requests for comment. In May, the Japanese technology investment group reported a 1.15 trillion yen ($7.94 billion) profit for the year ended March, compared with a loss of 227.6 billion yen a year earlier. SoftBank's approach of investing in high-growth technology companies is epitomized by the success of its investment in Chinese e-commerce leader Alibaba Group as well as the bankruptcy of U.S. office-space startup WeWork. ($1 = 144.7500 yen)
CNA
4 days ago
- Business
- CNA
SoftBank seeks to raise $4.9 billion in T-Mobile share sale, Bloomberg News reports
Japan's SoftBank Group Corp is looking to raise nearly $4.9 billion in an unregistered overnight block sale of T-Mobile shares, Bloomberg News reported on Monday. SoftBank is offering to sell 21.5 million shares for $224 to $228 each, Bloomberg said, citing the deal terms. Bank of America Corp is working on the deal. The sale represents a discount of more than 3 per cent to T-Mobile's closing price of $230.99 on Monday, and the stake offered would represent about 1.9 per cent of T-Mobile's outstanding shares, Reuters calculations showed. In May, the Japanese technology investment group reported a 1.15 trillion yen ($7.94 billion) profit for the year ended March, compared with a loss of 227.6 billion yen a year earlier. SoftBank's approach of investing in high-growth technology companies is epitomized by the success of its investment in Chinese e-commerce leader Alibaba Group as well as the bankruptcy of U.S. office-space startup WeWork. ($1 = 144.7500 yen)
Yahoo
4 days ago
- Business
- Yahoo
SoftBank seeks to raise $4.9 billion in T-Mobile share sale, Bloomberg News reports
(Reuters) -Japan's SoftBank Group Corp is looking to raise nearly $4.9 billion in an unregistered overnight block sale of T-Mobile shares, Bloomberg News reported on Monday. SoftBank is offering to sell 21.5 million shares for $224 to $228 each, Bloomberg said, citing the deal terms. Bank of America Corp is working on the deal. The sale represents a discount of more than 3% to T-Mobile's closing price of $230.99 on Monday, and the stake offered would represent about 1.9% of T-Mobile's outstanding shares, Reuters calculations showed. SoftBank and T-Mobile did not immediately respond to Reuters' requests for comment. In May, the Japanese technology investment group reported a 1.15 trillion yen ($7.94 billion) profit for the year ended March, compared with a loss of 227.6 billion yen a year earlier. SoftBank's approach of investing in high-growth technology companies is epitomized by the success of its investment in Chinese e-commerce leader Alibaba Group as well as the bankruptcy of U.S. office-space startup WeWork. ($1 = 144.7500 yen) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
