equity funding | Pixr8 News

Reliance Industries announced the sale of a 2.32 percent stake in its digital unit to US private equity giant KKR for around $1.5 billion (Rs 11,367 crore), the fifth deal in four weeks that will inject a combined $10.5 billion in the oil-to-telecom conglomerate to help it pare debt. This is KKR's largest investment in Asia. "This transaction values Jio Platforms enterprise value of $65 billion (Rs 5.16 lakh crore). This is KKR's largest investment in Asia and will translate into a 2.32 percent equity stake in Jio Platforms on a fully diluted basis," the company said in a statement. The deal follows with Facebook picking up a 9.99 percent stake in the firm for $5.7 billion. Within days of that deal, Silver Lake, the world’s largest tech investor bought a 1.15 percent stake in Jio...

New York City-based e-commerce company Vroom which buys and sells used cars has filed to raise $70 million in new equity funding. The company has already secured $30 million of that $70 million targets. The company with this is signaling confidence from investors that it’ll become profitable and beat out key competitors in the space, such as Carvana and Shift. The company has an aim of making the process of buying a used car as easy as ordering a pizza. With more than 3,000 cars for sale on the site, the startup delivers directly to its customers’ doorsteps. However, when asked, Vroom declined to comment on its upcoming round. “While Vroom’s business is healthy and financially stable, we’re always looking to align our resources to fulfill our long-term vision and deliver on our mi...

Tag: equity funding

Reliance Jio 5th deal, sells 2.32 pc for $1.5 billion to KKR

New York based Vroom is Raising $70 million After a Big Round of Layoffs