Chinese ride-hailing giant Didi Chuxing Technology Co Ltd is looking to spin off its car services unit in a deal worth up to $1.5 billion ahead of its expected initial public offering, people with direct knowledge of...
Payments firm PhonePe buys Zopper Retail
Payments company PhonePe on Monday said it has bought the point-of-sale (PoS) business of Zopper, a hyperlocal mobile marketplace for small and medium-sized businesses. The acquisition, which is part of a broader...
Uber in talks with Dubai’s Careem to merge services in West Asia: Report
Uber Technologies is in preliminary talks with rival Careem to combine their Middle Eastern ride-hailing services, Bloomberg reported on Tuesday, citing three people familiar with the matter. The companies have...
Swiggy enters unicorn club with $210 million funding from Naspers
Swiggy raised $210 million from a group of investors, catapulting India’s largest food delivery service provider into a select club of startup unicorns with a valuation of $1 billion or more. The latest funding, led by...
Zomato in talks to raise $400 million at $2 billion valuation
Food-tech startup Zomato Media Pvt. Ltd is in talks to raise $400 million, largely from existing investors Ant Financial and Temasek, at a valuation of as much as $2 billion, as the fast-growing online food ordering...
Ola, Uber control 90% of cab market: Would their merger get the CCI’s nod?
In a span of a few years, mobile app-based cab companies have drastically changed the face of public transport in bigger Indian cities. Ever since the homegrown Ola and the international darling Uber made their entry in...
Uber-Grab deal: Singapore watchdog sets interim measures for merged entity
Singapore’s competition watchdog on Friday outlined a set of interim measures for ride-hailing firms Grab and Uber Technologies to ensure an open market as it continued its investigation into their merger in the...
Uber agrees to buy electric cycle-sharing startup JUMP Bikes
Ride-hailing company Uber Technologies Inc [UBER.UL] said on Monday it has agreed to buy electric bicycle service JUMP Bikes, allowing Uber to offer U.S. passengers an alternative to cars and further consolidating the...
Ola in talks to buy Freshmenu after Foodpanda acquisition
Ola has held talks to buy private label food firms following its purchase of food ordering app Foodpanda, three people familiar with the matter said, as the cab-hailing firm explores creating an independent food...
How a crazy idea led this former journalist to $3 billion buyout
It seemed like a crazy idea at the time—and it still does. Three years ago, Hu Weiwei and her co-founders decided to start a business letting people share bicycles for pennies per ride. People could hop on for a quick...
Ola buys Ridlr in bid to expand public transport business
India’s largest cab-hailing firm Ola has bought transportation information provider Ridlr, as it looks to expand its fledgling public transportion business that has become an important battlefront in its fight with arch...
Philippines, Malaysia put Uber-Grab deal under anti-competition scrutiny
The Philippines and Malaysia said on Monday they will look into whether Uber Technologies’ move to sell its Southeast Asian business to ride-hailing rival Grab hinders competition, days after Singapore began a probe...
