Less than two months after raising funds, both Swiggy and Zomato are in talks to raise more money, as investors queue up to back online food delivery start-ups, three people familiar with the matter said. Swiggy (Bundl...
CCI likely to put a roadblock in the merger of Uber and Ola in India
The country’s competition watchdog, the Competition Commission of India (CCI), could put a roadblock in the merger of Uber and Ola in India, after the Competition Commission of Singapore (CCS) flagged up a similar case...
Singapore watchdog says Uber-Grab deal may have infringed competition
Singapore’s competition watchdog said it had reasonable grounds to suspect competition had been infringed by Uber Technologies Inc’s deal to sell its operations in Southeast Asia to rival ride-hailing firm Grab. In a...
Common shareholder SoftBank calls for merger between Uber, Ola in India
Japanese investment giant SoftBank has called for a merger between homegrown Ola and US firm Uber’s India unit as part of its planned consolidation in Asia’s fast-growing ride hailing app market. The talks, facilitated...
Ola in talks to buy Ridlr in bid to improve navigation technology
Cab hailing firm Ola is in talks to buy transportation app Ridlr, as the company seeks to improve its navigation technology and potentially expand the range of its services, two people familiar with the matter said...
Uber to sell Southeast Asia business to Grab for 27.5% stake in merged firm
Uber Technologies Inc. has agreed to sell its Southeast Asian operations to Grab, withdrawing from yet another fast-growing region to end a war of attrition with a fierce local rival. Under the agreement, Grab will...
Alibaba’s Ant Financial Services invests $150 million in Zomato
A unit of China’s Alibaba Group Holding Ltd has invested $150 million in Zomato, valuing the Indian food search and delivery service at more than $1 billion, the companies said on Thursday. Ant Financial Services...
Uber to invest aggressively in South Asia, won’t let Softbank rule it: CEO
Uber Technologies Inc’s chief executive pledged to continue investing aggressively in Southeast Asia even though the US ride-hailing firm expects to lose money in the fast growing market due to costly battles with...
Zoomcar raises $40 mn from Mahindra; to add 500 E20s to its fleet
Self-drive car rental service Zoomcar has raised $40 million in fresh funding led by Mahindra and Mahindra as it looks to add more cars to its fleet. The company will use this capital to hit over 15,000 subscriber...
Uber, Yandex complete ride services merger
Uber and Russia’s Yandex have completed a deal to combine their ride-sharing businesses in Russia and neighbouring countries, Yandex said on Wednesday. Uber and Yandex, often referred to as the “Google of Russia”...
Alibaba leads $300 million funding for Bigbasket
Alibaba Group Holding Ltd led a $300 million investment into India’s biggest online grocer Bigbasket, signalling that the region’s segment is firing up. Hari Menon, Bigbasket’s co-founder and chief executive officer...
Zomato Raises $200 million from Ant Financial
India’s food delivery market is steaming up as investors flock to the space and Zomato is taking pole position this time around. The online restaurant discovery and food delivery firm has raised $200 million from...
