Saturday, April 13

Tag: London

Deliveroo IPO listing, Valuation could reach around $10 to $12 billion
Market

Deliveroo IPO listing, Valuation could reach around $10 to $12 billion

London, 03/25/2021: UK-based food delivery service Deliveroo said it plans to go public on April 4 via the London Stock Exchange at a price range of $5.35 to $6.32 per Share. The IPO listing could value the company around $10.5 billion to $12.1 billion. The Offer will comprise of new Shares to be issued by Deliveroo expecting to raise approximately $1.4 billion and existing Shares to be sold by certain existing shareholders. Will Shu, Founder, and CEO of Deliveroo said, "We are proud to be listing in London, the city where Deliveroo started. Becoming a public company will enable us to continue to invest in innovation, developing new tech tools to support restaurants and grocers, providing riders with more work and extending choice for consumers, bringing them the food they love from...
Checkout.com Raises $230m in Series A funding
FUNDING

Checkout.com Raises $230m in Series A funding

3rd May 2019, London-- Checkout.com, the global payment solutions provider has raised $230m in what is Europe’s largest fintech Series A round ever, and globally the third largest fintech Series A round of all time. The investment round was led by growth investors Insight Partners and DST Global. Singapore’s sovereign wealth fund GIC, Blossom Capital, Endeavor Catalyst and other strategic investors are also participating in the round. Checkout.com will use the funding to continue its rapid growth in Europe, the US, and the Middle East, with further expansion into Asia and Latin America. The fintech platform is the seven year old UK business, which is transforming the world of digital commerce by providing merchants with a solution that enables payments across all geographies and...
Xiaomi to Open a Retail Store in London Amid Expansion Spree
News

Xiaomi to Open a Retail Store in London Amid Expansion Spree

Xiaomi has become one of the most popular smartphone brands in the world and with its expansion spree, the company continues at speed up after it announced plans to open its first retail store in London. The Chinese smartphone maker is popularly known for developing quality Android phones at affordable prices and already it has launched devices in Spain, Italy and France. The foray has now touched the UK where Xiaomi launched its Mi 8 Pro device at an event yesterday and revealed that it will open a store at the Westfield mall in London. Now, this outlet would become Xiaomi’s first authorized Mi Store. Styled on Apple’s iconic stores, the Mi store will showcase a range of products, not all of which are available in the UK. Xiaomi has also shown a taste of what the company is plann...
IT Major TCS Acquires a London-based Digital Design Company
ACQUISITION

IT Major TCS Acquires a London-based Digital Design Company

The global leader in IT services TCS Consultancy has reportedly acquired a London-based digital design company known as W12 Studios. The financial details of the deal have not been disclosed. This marks as the company’s first acquisition in about four years. With a proper strategy and not following the path of its rivals, TCS stated that it would only look at acquisitions for truly niche technologies, preferring to build the talent in-house. On the other hand, Cognizant, Infosys and Wipro have made a number of digital acquisitions over the last few years. Also, this acquisition signifies that TCS is open to acquisitions instead of only building technologies and talent in-house. Prior to this, the IT major last invested $50 million in a joint venture with Mitsubishi Corp. in Japan in ...
Uber Aims to Go Fully-Electric in London in 2025
News

Uber Aims to Go Fully-Electric in London in 2025

The cab aggregator Uber has planned for every car on its taxi app in London to be fully electric in 2025, It would also add a clean air fee to each trip from early next year. The rapidly-expanding firm is simultaneously trying to appease regulators in key markets such as London, with initiatives such as on environmentally-friendly vehicles, as well as expanding into new areas ahead of a flotation. "It's going to be part of the family and how the capitalization looks like is something that we are ultimately open to but it is not an area of focus right now." Chief Executive Dara Khosrowshahi, who pulled out of a Saudi conference after the murder of journalist Jamal Khashoggi, also said the firm would wait for answers about the incident before deciding how that might affect Saudi investm...
Ride-Hailing Giant Eyeing to Acquire London-based Deliveroo
ACQUISITION

Ride-Hailing Giant Eyeing to Acquire London-based Deliveroo

The international ride-hailing service provider Uber is in early talks to acquire food delivery company Deliveroo. The amount of the deal is unknown as of now, however, it has been stated that the offer would need to be considerably above Deliveroo's latest valuation. Deliveroo is a London-based food delivery company founded in 2013 by Americans Will Shu and Greg Orlowski. Last year, the company was valued at more than $2 billion after it raised $98 million from private investors. The deal is not sure to close and may fall apart because Deliveroo and its investors have been reluctant to relinquish independence. Uber has been growing in all segments and with its recent entry in the food delivery space with UberEats, this acquisition may help the company a lot. In Deliveroo, the orders...
London-Based Threads Raises $20 Million in Fresh Funding Round
FUNDING

London-Based Threads Raises $20 Million in Fresh Funding Round

London-based women’s wear company Threads has reportedly raised funds amounting to $20 million in a fresh funding round. The funding round was led by fashion and millennial-focused fund C Ventures. It also saw the participation of Highland Europe (which invests in Matches Fashion, among other related businesses). The funds so raised will be utilized by Threads for the expansion of its business across the board. Also, a part of the funds will be deployed in the hiring of more stylists and more engineers to build tech which would help the operation run smoother. Other creative staff will also be hired to boost up the operations. At present, 90 people work in the company. “Tech has moved quickly and we are starting to test and how we will integrate more AI,” founder and CEO Sophie Hill sa...
After China and Malaysia, OYO Starts Off with Operations in London
BUSINESS

After China and Malaysia, OYO Starts Off with Operations in London

The online hospitality service provider OYO seems to be on an expansion spree. Soon after spreading its footsteps in countries like China, the company has landed in London and already begin with the operations. The Softbank-backed firm has been offering bookings in Sussex Gardens, Paddington, London. According to the reports, an OYO Townhouse property in London was seen recently. After foodtech unicorn Zomato, it is said to be the second Indian startup to have expanded to London. However, there is no option to book a hotel at the previously mentioned property through the app or website, it is being guessed that the pricing would be in the range of Rs 6,500 to Rs 8,000.     Currently, OYO claims to operate 8,500 hotels and 70,000 rooms over 230 cities in India. ...
LetsTrack Raises $ 1.7 Mn from Seed Investor
FUNDING

LetsTrack Raises $ 1.7 Mn from Seed Investor

LetsTrack raised funds of $ 1.7 million from US investor James Arthur, who will join the firm as Chief Operating Officer in an attempt to expand its operations on the international market. LetsTrack is planning to offer their services in around 50 countries until 2020. The company’s valuation was estimated according to various contributing factors and the company received many offers at a valuation of $ 17 million. While investments are usually done in order to secure capital and raise money, LetsTrack looked for an investor who would bring a strategic plan in order to raise the overall quality of the company. "For me, it was a no-brainer because James was not only bringing money but also dedicating the next 10 years and for Letstrack that is invaluable. Now we have an investor and p...
A New Smartphone App With Shakespearean Touch
Story

A New Smartphone App With Shakespearean Touch

To celebrate the 400th anniversary of the world famous playwright, a new smartphone app with Shakespearean touch using text messaging, was launched today. The app is called ShakeSpeak. ShakeSpeak has been developed by software company SwiftKey, best known for their language prediction app. By analysing the Complete Works of Shakespeare they developed an app that helps turn users text messages into Shakespearean prose by predicting the playwrights best known phrases. Swiftkeys app, which is available to download free of cost, allows the user to simply type the first word or two of a famous Shakespearean quote and the technology will do the rest. SwiftKeys Head of Partnerships Sarah Rowley said: "We are delighted to be combining the Bards works with our smartphone ke...