No. 197: Force Majeure in Nigerian Oil | Softbank Leveling Up | UIPath Deposits $568M

Nigeria’s Bonny Light, Amenam crude under force majeure as disruptions resume (S&P Global Platts)

If there is a global heat map showing the frequency of force majeure declarations in countries, I want to see it. It’s awful that Nigeria is still going through this waste of its lives and resources.

SoftBank Vision Fund says its team will balloon to a whopping 800 people in the next 24 months (TechCrunch)

Masayoshi Son is constantly applying pressure. For some reason, Eike Batista came to mind while reading this piece. Years ago, he was worth $30B. Within the span of a few years, his investments went left and he wasn’t a billionaire anymore. Last year, he was sentenced to 30 years in prison. I don’t see any connection between the two right now, but some folks have pointed out concerns about how Softbank’s various arms deal with each other.

A Closer Look at our Series D Funding Round—and Why It’s So Exciting (UIPath)

UIPath raising $568M is a good example of Peter Thiel’s zero to one concept – building something from nothing. This company was founded back in 2005. A couple years ago they had $8 million in annual recurring revenue. Now, they’ve got $200 million in ARR. I imagine Softbank has its eyes on them considering Masayoshi Son’s strong belief in benevolent artificial intelligence. So, we could be seeing a $1 billion+ Series E Round if they don’t go public after this round.

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Kwame Som-Pimpong

My name is Kwame Som-Pimpong. This is my blog. You can email me at kwame.som.pimpong@gmail.com.

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