SoftBank reported an eye-watering $6.5 billion loss in the wake of WeWork's catastrophic failed IPO

Thomson Reuters

• SoftBank Group recorded an eye-watering quarterly loss of $6.5 billion early Wednesday, spurred by some of it biggest tech invstments like Uber and WeWork. 
• The Japanese investment giant last month spent over $10 billion bailing out WeWork after its failed IPO attempt. 
• Read all of Business Insider's WeWork coverage here.

SoftBank Group recorded a masssive quarterly loss of $6.5 billion, spurred by some of it biggest tech bets like Uber and WeWork. 

The Japanese investment firm reported its first quarterly operating loss in 14 years, stating it plunged by 704 billion yen ($6.46 billion) in the July-September period.

See the rest of the story at Business Insider

NOW WATCH: WeWork went from a $47 billion valuation to a failed IPO. Here's how the company makes money.

See Also:

• UK coliving company The Collective expands to the US with a Long Island City property that blurs the line between coliving and short-term rentals
• Top tech banker Noah Wintroub is at the center of WeWork's failed IPO. We talked to insiders to learn more about his meteoric rise at JPMorgan.
• Bob Schumer helped Adam Neumann nab his $1.7 billion WeWork exit package. Insiders told us why the hot-shot M&A lawyer was the perfect fit for the high-stakes negotiation.

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