SoftBank CEO Masayoshi Son recently confirmed that he is interested in pursuing a deal with Uber. However in a sudden twist he also revealed that he is not opposed to working with Lyft, Ubers only significant competitor. SoftBank has already in a number of ride sharing companies around the world including Didi Chuxing (China), Ola (India), Grab (Southeast Asia), and 99 (Brazil). However it has yet to gain a foothold in the U.S. market.
While Uber may be the obvious choice Son is still uncertain as to which company they will back. Lyft recently hit one million rides per day, and its valuation is rising every day. And while Uber was once valued at an impressive 60 billion, its value is less certain now, especially given their recent scandals and the fact that they currently have no CEO. Lyft on the other hand was recently valued at 7.5 billion this April, still significantly less than Uber, but still impressive given their much smaller market share and company size.
Which company will SoftBank eventually target? All that is certain is that whoever the receives this massive injection of cash will go through some significant corporate shakeups and is likely to receive new additions to its board of directors.