Belfast Telegraph

Japanese firm shows interest in partnering with taxi apps

By Ravender Sembhy

Japan's Softbank has indicated that it is interested in investing in taxi hailing apps Uber and Lyft.

Speaking alongside the group's earnings update, chief executive Masayoshi Son said that Softbank is "interested in discussing with Uber, we are also interested in discussing with Lyft".

However, he added that the firm has not decided "which way" to go.

Mr Son said: "We are interested in discussing with Uber. We are also interested in discussing with Lyft.

"We have not decided which way but the US is a very big market and is the most important market. So we are definitely very much interested in the US market.

"Whether we decide to partner and invest into Uber or Lyft, I don't know what would be the end result, but we are interested in exploring the idea and we would like to discuss with both companies."

The comments come following speculation that Softbank, which already backs Didi Chuxing in China and India's Ola, was plotting an investment in Uber.

Softbank has also invested in several British companies over the past year.

Technology start-up Improbable has raised more than $500m (£390m) in a funding round led by Softbank.

The move came after Softbank sold a 25% stake in British chip designer ARM Holdings in March, just six months after snapping up the firm.

Belfast Telegraph