Japan’s SoftBank, which is planning to pump billions into Uber, is already a large investor in other major ride-hailing companies around the world.
Japanese tech giant SoftBank has finally won Uber over.
The ride-hailing company’s board decided Tuesday to take a major investment from SoftBank ( SFTBF). The news comes after the Japanese firm’s CEO, Masayoshi Son, spent months publicly courting Uber — but he’s not looking for an exclusive relationship.
SoftBank is already a big investor in several major Uber rivals, including Didi Chuxing in China, Ola in India, Grab in Southeast Asia and 99 in Brazil.
Earlier this week, Bloomberg reported that SoftBank took part in a fresh round of funding for Ola worth $2 billion. The companies declined to comment on the report.
The Japanese firm’s planned investment in Uber is expected to eventually run into the billions of dollars. And Son has previously expressed interest in Lyft.
Related: Uber strips power from ousted CEO Travis Kalanick
So why shower cash on so many different ride-hailing firms around the world?
Analysts and tech industry insiders say Son’s strategy makes sense from a global point of view. The investments could one day turn into a significant stake in a combined company if (or more likely when) mergers start to happen.
