Wednesday, November 6

Tag: lyft

Big Data Startup Qubole Raised $25M Funding
9Nov By PriyankaNo Comments
FUNDING

Big Data Startup Qubole Raised $25M Funding

Santa Clara based big-data and analytics startup Qubole has raised a funding of $25 million from Singtel Innov8 and Harmony Partners on Thursday. The round also saw participation from its existing investors Charles River Ventures, Lightspeed Venture Partners, Norwest Venture Partners and Institutional Venture Partners who also infused in the funding, making it to a total of $75 million. The funds will be utilised to expand its operations in Asia-Pacific region, superheaded from its sales office in Singapore led by co-founder and CTO Joydeep Sen Sarma. “There is a significant opportunity for big data in the Asia Pacific region. Qubole makes it easy for enterprises to access best-in-class analytics for quicker, more accurate decision making in a cost-efficient way. We are excited to p...
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Will SoftBank Ditch Uber And Invest In Rival Lyft?
7Nov By RishabhNo Comments
BUSINESS

Will SoftBank Ditch Uber And Invest In Rival Lyft?

SoftBank CEO Masayoshi Son on Monday said he could still walk away from the deal between SoftBank Group Corp and Uber, after the negotiations for stake in the cab aggregator platform. He also added that perhaps the company may even invest in Uber's rival Lyft. “Depending on the price and conditions, it is wholly possible we could shift our investment to the other main company Lyft. It is wholly possible,” Son said at a press conference following SoftBank’s second-quarter earnings. “We won’t know until the very end.” The negotiations are on regarding the price of the stakes in Uber, half of which will come from existing Uber shareholders, and if arriving at a price becomes difficult, he will invest in Lyft Inc. He also mentioned about the conditions such as the number of board members, th...
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Ola Confirms $1.1 Bn Fund Raise From Tencent Holdings
11Oct By RishabhNo Comments
FUNDING

Ola Confirms $1.1 Bn Fund Raise From Tencent Holdings

One of India's unicorn, Ola, operated by ANI Technologies Pvt Ltd has confirmed that it has closed a $1.1 billion funding from Tencent Holdings, a leading Chinese internet company. The round also saw participation from its existing investor- SoftBank Group and other new US-based financial investors. Ola also said that it is in advanced talks with existing and another investor to raise additional $1 billion, thus rounding off what may turn out to be a $2 billion funding round. After a billion scale funding received by Flipkart and Paytm, Ola is the third one to receive such massive funding this year. Flipkart leads them by having raised at least $2.8 billion  in two separate tranches from SoftBank, Tencent, eBay and Microsoft, followed by Paytm which raised $1.4 billion from SoftBank....
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Tata Owned Jaguar Unit Invests $25 Million in Lyft
13Jun By AdityaNo Comments
FUNDING

Tata Owned Jaguar Unit Invests $25 Million in Lyft

Tata Motors-owned Jaguar Land Rover (JLR) has invested USD 25 million (over Rs 160 crore) in Lyft, the fastest-growing rideshare company in the US. The investment by InMotion Ventures, a part of JLR, will support Lyfts expansion and technology plans, the UK-based luxury carmaker said in a statement. The initiative will also provide InMotion Ventures with the opportunity to develop and test its mobility services, including autonomous vehicles, and to supply Lyft drivers with a fleet of Jaguar and Land Rover vehicles, it added. "This is a strategic investment for both parties as we focus on innovating new mobility solutions for our customers. Collaborating with an expanding technology business like Lyft is going to help us both accelerate our ambitions," JLR Executive Director of Co...
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Lyft, Ola’s Global Partner Finally Steps Out Of US
12Jul By RishabhNo Comments
BUSINESS

Lyft, Ola’s Global Partner Finally Steps Out Of US

Ola's global partner Lyft Inc. now ready to open up outside its home US. The second-largest US ride-hailing company will "very likely" expand to other countries, said John Zimmer, the president and co-founder of Lyft. Against its rival Uber, Lyft has so far focused only on US, while Uber expands in several countries of the world. The smaller San Francisco startup is defending its home turf from Uber partly by spending aggressively on marketing, including promotions targeted at riders and drivers in major US cities. Speaking onstage at the Fortune Brainstorm Tech conference in Aspen, Colorado, Zimmer didn't specify when the company might expand or where it plans to go. A Lyft spokesman declined to comment. Lyft's global alliance includes China's Didi Chuxing, India's Ola and Sou...
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We Bet You Didn’t Know These 39 Facts of Uber
15Feb By NitishNo Comments
ANALYSIS

We Bet You Didn’t Know These 39 Facts of Uber

Have you ever come across a business so brilliant yet so simple it made you scratch your head and wonder – why didn’t I think of that? With outrageous valuation and millions of users, Uber is definitely one of those companies. Founded in 2009 by a college dropout, Uber is a classic tech success story, and the company’s exponential growth/colossal funding over the past six years have launched it to the forefront of the startup world. Despite competition and even outright bans in some places, Uber continues to thrive with over 8 million users and 1.1 million driver-partners. Its easy-to-use app, convenience, and general “coolness” have made it the go-to car service whether you’re a regular commuter or a high-profile celebrity. It’s not uncommon to hear the words “Call an Uber!” late at ni...
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GM invest $500 Million in Lyft To Create a Network Of On-Demand Self-Driving Cars
4Jan By RishabhNo Comments
FUNDING

GM invest $500 Million in Lyft To Create a Network Of On-Demand Self-Driving Cars

American Multinational corporation, Automaker General Motors or popularly known as GM has decided to invest a sum of $500 million in Lyft Inc. a ride-sharing service provider alliancing with it to create a network of On-demand Self-Driving cars. Lyft is one of the biggest ride-hailing companies which is fastest growing rideshare company in US and is available in more than 190 cities which, along with GM has announced the joint venture on Monday that involved an investment of $500 by GM. The invested $500M in the company is the part of a round of a $1 billion round of fund-raising. (more…)
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Uber plans to raise $2.1 bn for investment in India, China
5Dec By AnkitaNo Comments
News

Uber plans to raise $2.1 bn for investment in India, China

App-based taxi aggregator Uber is looking to raise USD 2.1 billion in a fundraising round led by Tiger Global and other investors, valuing the company at USD 62.5 billion. The funds raised will be used primarily for investments in India and China, according to people aware of the development. Sources said that next round of investment for India will be announced early next year. US-based Uber in July this year had announced to invest USD 1 billion (about Rs 6,400 crore) in India in nine months to expands operations in the country. Interestingly, Tiger Global is also an investor in Ola, which competes with Uber in India. According to sources, Uber has filed paperwork in Delaware giving details about the fundraising wherein the company said it plans to raise USD 2.1 billion from ...
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Ola joins global alliance to take on Uber
4Dec By PriyankaNo Comments
News

Ola joins global alliance to take on Uber

India’s largest cab aggregator Ola has joined international peers Didi Kuaidi, Lyft and GrabTaxi to form an alliance against San-Francisco-based Uber. The global alliance enables international travelers to avail cab-hailing services of the four companies through the same app they use in their home country. The partnership would provide ride-sharing coverage for India, China, Southeast Asia and the US, Ola said in a press statement. The arrangement is an extension of an ongoing pact between US-based Lyft and Chinese cab aggregator Didi Kuaidi. Didi Kuaidi had recently participated in a $500 million fund raising round at Ola. Ola, Didi Kuaidi, Lyft and GrabTaxi have collectively raised about $7 billion in external funding. The taxi-hailing business in India is heating up as...
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