M&A 2018 Annual Review

SoftBank Morrison & Foerster advised SoftBank in its $7.7 billion primary and secondary investments in Uber. This included the largest ever private secondary transaction in the technology sector and made SoftBank the largest stakeholder in the ride- services firm. We represented SoftBank in a number of other notable online-to-offline (O2O) commerce transactions in 2018, including its $4.6 billion follow-on investment in Xiaoju Kuaizhi Inc. (DiDi), China’s leading ride-hailing and mobile transportation platform; its $560 million investment in AUTO1 Group, Europe’s leading car-trading platform; its $535 million investment in DoorDash, an on-demand food delivery service; and its $300 million investment in Getaround, a peer-to-peer car-sharing service. We also represented SoftBank in connection with investments totaling $6 billion intoWeWork Companies Inc. (recently rebranded as TheWe Company), a company that develops and provides shared workspaces to small and large businesses, and in relation to its rights as an existing shareholder of WeWork China in connection with the acquisition byWeWork of nakedHub. We also advised SoftBank on a number of other transactions, including its investments in Ele.me, Katerra, Airtel Africa, View, Opendoor, PT Tokopedia, OYO, and Cohesity. “THIS IS A GREAT OUTCOME FOR OUR SHAREHOLDERS, EMPLOYEES AND CUSTOMERS, STRENGTHENING UBER’S GOVERNANCE AS WE DOUBLE DOWN ON OUR TECHNOLOGY INVESTMENTS AND CONTINUE TO BRING OUR SERVICES TO MORE PEOPLE IN MORE PLACES AROUND THE WORLD.” Uber spokesman 23 MORRISON & FOERSTER 2018 M&A ANNUAL REVIEW