SoftBank is a Japanese multinational conglomerate holding company with stakes in technology, energy, and financial companies. It runs Vision Fund, the world’s second-largest technology-focused venture capital fund with over $100 billion capital invested and investors including Saudia Arabia, Apple (AAPL) and Qualcomm (QCOM) to name a few.
SoftBank’s portfolio of companies include publicly traded companies such as Uber (UBER), Slack (WORK), and Opendoor, a Real Estate company which is going public through a SPAC deal. SoftBank has also invested in high-profile private companies which are expected to go public soon, such as DoorDash (a food delivery company) and Compass (real estate brokerage).
Tech has been at the forefront of the recent market rally and shares of Uber and Slack are up 63% and 75% YTD respectively. Moreover, the market’s strong appetite for IPOs has caused more companies to tap into the public markets with DoorDash being one of them.
Those factors have contributed to SoftBank’s 56% rally YTD. On Wednesday, shares of SoftBank reached the highest level since the midst of the dot-com boom in March of 2000.
Time will tell how sustainable it is going to be this time...