Word: softbank
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...world where Microsoft is under attack for it and America Online is envied for it, size matters, and today nobody owns more real estate on the Internet than Son. His holding company, Softbank, based in Tokyo, has a stake in more e-businesses in more countries than any other cyberprospector out there. Yahoo? Softbank is the largest single investor, with 23%. PeoplePC, the $24.95-a-month service that gives you a free computer and online access, is a Softbank-affiliated company. So is online grocer Webvan, whose initial public offering three weeks ago soared...
...quality and excellence." Indeed, Jobs' most potent weapon is still his messianic zeal to fulfill his original vision of Apple as the bridge between the average citizen and the mysterious world of the computer. "His DNA was built into this company," says Heidi Roizen, a partner at the Softbank venture-capital firm who has known Jobs since the beginning. "And when he came back, everything fell into place--a return to excellence in design, to listening to the consumer, to developing cool products...
...online stock trading service E*Trade got a big boost Friday afternoon when the giant Japanese software distributor Softbank announced it was investing a fresh $400 million in the upstart brokerage. Forget Kleiner Perkins -- the Tokyo-based Softbank is the real kingmaker when it comes to anointing web frontrunners. The investment raises Softbank's stake to 27% of E*Trade, and matches the company's large ownership interest in other web winners like Yahoo (31%) and Geocities (35%). Softbank also owns more than 70% of electronics publishing giant Ziff-Davis...
...with Softbank's $250 million infusion into Yahoo last week, the most likely use for the cash is promotion. Look for a big push in September for E*Trade's stab at a "financial portal" called Destination E*Trade. Originally slated for a roll-out last May, the E*Trade site is supposed to be the personal finance and investing version of ESPN Sportzone or CBS Sportsline -- a central hub with monster traffic that's worth money to other marketers. This suddenly seems workable, especially if Softbank's even bigger web investments throw traffic to E*Trade. In related online...
...report -- sales of $41.2 million, up 36 percent from the beginning of the year; traffic of 115 million daily pageviews in June, up from 95 million in March; a 2-for-1 stock split -- was news that the search standout was raising $250 million by selling new stock to Softbank, which already owns nearly a third of the company. We could all use another $250 million, but what does Yahoo need...