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Ride-hailers squeeze SoftBank Vision Fund harder than WeWork

Transportation startups like Uber, Didi and Grab send tech investor falling

Ride-hailing startups including Uber struggled in the July-September quarter, with the Vision Fund's investments in transportation and logistics plunging in value.   © Reuters

TOKYO/MUMBAI -- SoftBank Group's Vision Fund took a major hit to profits in the July-September quarter from its investments in ride-hailing companies like Uber Technologies, as transportation and logistics become the make-or-break sector for the fund.

The tech investment fund's cumulative profit -- both realized and unrealized gains since its launch in 2017 -- totaled $11.4 billion at the end of September, a roughly 40% plunge in three months.

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