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As Uber continues to lose money, Softbank wants to buy its shares at a discount

Uber just released its most recent financial numbers to shareholders, and things aren’t looking great, Bloomberg reports. Although net revenue rose to $2.01 billion in Q3 (versus $1.66 billion in Q2) and gross bookings grew to $9.71 billion (versus $8.74 billion in Q2), the company’s loses grew too. In Q3 Uber lost $1.46 billion, which is up significantly from its $1.06 billion loss in Q2.

These poor numbers and Uber’s continued scandals on multiple fronts has led Japanese tech giant Softbank to believe they can scoop up some of Uber for a discount. The company has launched its tender offer to buy up a portion of Uber’s shares at a 30% discount to their current value. There’s no word yet on just how much of Uber Softbank is looking to scoop up, but some of Uber’s largest shareholders–including VC firm Benchmark and Menlo Ventures–are interested.

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