Why one start-up founder turned down a US$1.1 bil Softbank deal

SINGAPORE (Apr 22): Start-ups, when they raise venture money to build their businesses, begin with a Series-A round and then proceed through Series E, F or maybe G before going public. The Indian ride-hailing service Ola is a bit unusual: It just completed its Series-J fundraising and is marching towards Series K, a letter almost unheard of by researchers that track such things.


Grab gets US$2 bil from SoftBank, Didi to fight Uber in Asia

(July 24): Grab raised US$2 billion ($2.7 billion) from Didi Chuxing and SoftBank Group Corp. in the largest–ever venture fundraising in Southeast Asia, joining forces with two companies instrumental in driving Uber Technologies Inc. out of China.

Uber aims to unseat Ola in US$10 bil India ride-hailing market

Amit Jain

BANGALORE (Oct 10): Uber Technologies Inc unveiled its first-ever brand campaign in India last month with a video showing a tense Uber driver navigating gridlocked streets as he rushes to drop off a little girl to her school on exam day. In a Bollywood-style twist at the end, the girl turns back at the school gate and calls out to him, “Have a nice day, Papa.”

Your Uber and Grab taxi rides are about to be disrupted

SINGAPORE (Sept 5): Uber, the global giant of ride hailing, which at the last round of its fundraising was valued at US$68 billion ($92.7 billion), lost US$1.2 billion in the first half of this year compared with a US$987.2 million loss in the same period last year.

The biggest expense for Uber is not R&D for its proprietary software or algorithms or, indeed, marketing and customer acquisition, but driver subsidies.

Grab gives Lyft a ride, and vice versa


SINGAPORE (June 2): Ride hailing app Grab is expanding its reach beyond its Southeast Asia home market via a tie-up with Lyft in the United States.

Starting Thursday, Grab users can book rides in more than 200 US cities where Lyft operates, using their Grab app. Conversely, Lyft users can book rides using their existing apps in 30 cities in six Southeast Asian countries.

Last December, a multi-party rideshare agreement was announced by Didi Chuxing, Grab, Lyft and Ola. The tie-up between Grad and Lyft is the first to be launched.

Apple invests US$1 bil in Uber’s China competitor Didi

Didi, Xiaoju Kuaizhi Inc

HONG Kong (May 13): Apple Inc invested US$1 billion ($1.38 billion) in Didi, the single largest investment the Chinese ride-hailing service has ever received as it battles Uber Technologies Inc.

Apple will help Didi build its data-driven ride-sharing platform, as the company now completes more than 11 million rides a day and serves about 300 million users, Didi said in a statement on Friday. It joins other investors including Alibaba Group Holding Ltd and Tencent Holdings Ltd.

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