Whoah, SoftBank is breaking termsheets. Watch out, founders. This is one of the most damaging things that can happen to a startup.
Scoop: SoftBank shafts startups
Important to close the loop. We reported that Softbank was in talks with Honor for a $150m investment round. Update from : Honor got a term sheet in Nov. but Softbank reportedly killed the deal a week before Christmas.
SoftBank's arrogance in response to a story of it reneging on term sheets is insane: "Given we’re a fiduciary and investing very large amounts of capital, our investment process is more rigorous than unregulated investors and typical VCs."
Vision Fund has walked away from investing in several startups, months after submitting term sheets worth hundreds of millions of dollars and promising that closing delays were only temporary”