FILE PHOTO: The logo of SoftBank Group, Corp, is displayed at SoftBank World in 2017 conference to be held in Tokyo, Japan, on July 20, 2017. REUTERS/Issei Kato
(Reuters) – SoftBank Group Corporation, the Vision of the Fund, has agreed to sell its 50% interest in the Wag Labs Inc. back to the dog walking boot, the Wall Street Journal reported Monday, citing people familiar with the matter.
“We’re amicably parting ways with SoftBank, and SoftBank will no longer be the board of directors of the agency, the Chief Executive Garrett Smallwood, said in a memo to employees, according to the report.
Wait, which released earlier this year, a few dozens of people, it is to let go of a significant amount of the rest of the staff, according to the report.
“Today, we say goodbye to some of our friends and co-workers as we are taking our organization to the needs of our company,” Smallwood said in the memo, according to the report.
They turned and Wait the Labs do not immediately respond to Reuters ‘ request for comment.
Report by Bharath Manjesh, Bengaluru; Editing by shailesh Kuber