The $159 million deal sees the Alibaba Group Holding Ltd upping its 49% stake to 51 and thus gaining direct control over its board. On Monday, Alibaba Group Holding Ltd stated, it will be increasing its stake in Hong Kong-listed Alibaba Pictures to 51%, up from its current 49%, and thus essentially take control of…
Grab is expected to close the deal within the next few days, although there is however no certainty to to this. On Monday, the Economic Times, has reported citing two sources briefed on the matter at hand, ride hailing firm Grab is in advanced talks to invest $100 million in Oyo, an Indian hotel-reservations startup.…
The funding round saw Netskope’s valuation top more than $1 billion. The cloud-security firm will utilize the funds to expand its R&D, sales and data centers. Netskope, a cloud-security firm, said it has raised $169 million in its latest fundraiser which valued it at more than $1 billion. Netskope will channelize the funds to expand…
The funds from its latest funding round will be used to double its existing workforce. On Wednesday, British app-only bank Monzo disclosed that its backers now value it at $1.3 billion (1 billion pounds) thus giving it a unicorn status. The increase in valuation comes after Monzo raised 85 million pounds in its latest funding…
In just 6 years, Grab has managed to attract $6 billion in funding. According to sources familiar with the matter at hand, SoftBank Group Corp is nearing a deal to invest nearly $500 million in Grab. The potential deal is part of a nearly $1 billion funding that Grab aims to tap in its latest…
The Series E funding round was led by European private equity firm Vitruvian Partners LLP. So far the company has raised $229 million. Darktrace, a cyber-security firm stated, it has raised $50 million in its latest funding round that was led by Vitruvian Partners LLP, an European private equity firm, and saw the startup being…
Ola is steadily expanding its footprint in overseas markets. Earlier this year, it had forayed into the UK and the Australian ride-hailing markets. On Tuesday, Indian ride-hailing platform Ola said it plans on expanding its operations to New Zealand. The move underscores its latest push overseas as it ups its rivalry with its peer, Uber…
Under Jack Ma’s stewardship Alibaba grew into an e-commerce giant that it is today. Jack Ma, Alibaba Group Holding Ltd’s executive chairman and co-founder, who is also one of China’s best known corporate leaders, is set to retire from the e-commerce giant. The former English teacher now plans on focusing on philanthropy in education. As…
Its investors include KKR & Co, AllianceBernstein and Baillie Gifford. Lyft has a market share of 35% in the U.S. Following a funding round in which it raised $600 million, Lyft Inc said the its latest funding round was led by Fidelity Management which saw the ride-hailing firm’s valuation jump to $15.1 billion in little…
The development underscores the fact that the Chinese facial recognition company is gaining strategic bulk. SenseTime Group, a Chinese facial recognition technology company, disclosed that it raised $620 million in its latest funding round which saw its valuation touch $4.5 billion. The funding round was led by Fidelity International, Hopu Capital, Silver Lake and Tiger…
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