Despite Arrianna Huffington’s confidence a deal will get done between Uber and SoftBank, the language here clearly demonstrates SoftBank is in the proverbial driver’s seat. No price and a deal within a week suggests the deal is tentative at best, and that it is SoftBank that will set the price. The mention of a roll-up of global ridesharing companies confirms SoftBank is leading the aggregation strategy, because: 1.) SoftBank has positions in China’s Didi Chuxing (to which Uber ceded the Chinese market), Brazil’s 99, Ola in India, and Grab in Southeast Asia, and; 2.) SoftBank is already talking about its second Vision Fund, the first of which raised $93 billion.
Uber is still “waiting on what’s going to transpire in terms of the price,” said Huffington. She added that having SoftBank “on your cap table is very important when they’re also investing in so many of our competitors around the world.” Implying that there could be more acquisitions in ridesharing, she said to “expect to see some consolidation.”