Softbank closed its 15% investment deal with Uber making the ride-hailing service drop down the rankings as the worlds most valuable start-up company.
Long-running negotiations between the respective Japanese and American companies came to an end on Friday as a deal was finally completed.
As Uber continue to burn through extraordinary amounts of money in an attempt to buy the industries market, it was seen as vital that new investment was generated whatever the cost.
This investment has come at a price. In fact nearly one third of Uber’s valuation has been wiped out as softbank bought in to the controversial company at a cut price rate.
So who now leads Uber by a horns length in the unicorn race?
Ironically it is another of Softbank’s ride-hailing service investment that has overtaken Uber. Chinese company DiDi.
According to Fortune the valuation of Uber has dropped to $48 billion, some way off DiDi’s respective valuation of $56 billion.
The unicorn race - a term given to tech start-ups worth upwards of $1 billion - has several furlongs and jumps to run. Who will last the course?