Sunday, June 23

Tag: On demand

Disney to Launch on-demand Streaming Service called Disney+
BUSINESS

Disney to Launch on-demand Streaming Service called Disney+

Disney has come up with an all new and its very own on-demand streaming service known as Disney+. The company is gearing up to give a tough fight to the predominant player in this segment that is Netflix. The new service Disney+ will launch in late 2019. The company had earlier announced its plans of launching its streaming service in August 2017 and now it has become a reality. Disney also purchased Fox for $71.3 billion in cash and stock, further bolstering its library. Also, the service will also feature new, original shows and movies, including original Marvel and Star Wars series. Other original shows and movies include a rebooted version of The High School Musical franchise. Along with this, it will be a hub for animated content, including the next season of “Star Wars: The ...
Airbnb Inc Secured $1 Billion Debt Facility From US Banks
FUNDING

Airbnb Inc Secured $1 Billion Debt Facility From US Banks

Apartment-sharing startup Airbnb Inc has secured a $1 billion debt facility from some big U.S. banks to aid its new services and finance its expansion plans, a source close to the company said. JPMorgan, Citigroup Inc, Morgan Stanley and Bank of America Corp led the debt deal, the source said. Airbnb, which expects to achieve profitability in 2016, raised over $100 million in a round of funding late last year. Bloomberg reported the funding deal earlier on Wednesday. Representatives at JPMorgan, Citigroup, Morgan Stanley and Bank of America were not immediately available for comment outside regular U.S. business hours. Priceline, Expedia and other travel companies have been facing increased pressure in their hotel bookings business from the rise of startups such as Airbnb.
DriversKart Acquires Mumbai Based on-demand Driver Service Provider Driven
ACQUISITION

DriversKart Acquires Mumbai Based on-demand Driver Service Provider Driven

DriversKart, an innovative startup based out of Chennai, has acquired a Mumbai-headquartered on demand driver provider - Driven. Prior to the acquisition, DriversKart, had recently raised an undisclosed amount of funding from ah! Ventures and few other investors as a part of its Pre-Series-A round. Started in September 2015, DriversKart is already operational in 5 major cities; Bangalore, Mumbai, Pune, Delhi and Chennai, has a strong team of 20 employees and is already servicing 10,000 rides a month. It has been efficiently catering to the B2C as well as the B2B market in India and has been the preferred driver provider for self-drive car rental company like zoomcar, justride, etc. This growth shall be even more accelerated given that Driven, is already a strong player in a key geograph...