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WSJ: SoftBank putting $1B into truck-hailing firm Manbang

Apr. 23, 2018 10:54 AM ETAlphabet Inc. (GOOG) StockGOOG, SFTBF, SFTBY, GOOGLBy: Jason Aycock, SA News Editor11 Comments
  • SoftBank (SFTBY -1.6%) is providing $1B in fresh funds in the latest investment round for Chinese truck-hailing firm Manbang, The Wall Street Journal reports.
  • That, from the company's near-$100B Vision Fund, is part of a near-$2B raise for Manbang that also includes Alphabet's (GOOG +0.4%, GOOGL +0.4%) late-stage venture fund. Manbang had previously been backed by Tencent and a private-equity firm co-founded by Alibaba's Jack Ma.
  • The new round would value Manbang at more than $6B.
  • For Google's part, its $30M investment is its CapitalG fund's first in China in four years.

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