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SoftBank CEO Masayoshi Son. Photo by Bloomberg.
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SoftBank Ramps Up Software Bets With $1.3 Billion Tungee Talks

Photo: SoftBank CEO Masayoshi Son. Photo by Bloomberg.

SoftBank is ramping up its software bets—as aggressively as ever.

The investment firm is in talks to invest in Chinese software as a service firm Tungee at a $1.3 billion valuation, even as a group of other venture capitalists are investing in the firm at a $1 billion valuation, two people with knowledge of the fundraising discussions said. Global investors are betting on the potential growth of China’s burgeoning enterprise technology sector after the pandemic and amid rising wages.

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