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Didi Chuxing considers going public in 2021; targets $60-bn valuation

21Oct By reutersNo Comments

Market

Didi Chuxing considers going public in 2021; targets $60-bn valuation

Hongkong, 21st Oct 2020: China's top ride-hailing firm Didi Chuxing is considering Hong Kong for a multibillion-dollar initial public offering (IPO) next year, people with knowledge of the matter said, rethinking previous aims to list in New York amid rising Sino-US tension. Didi, backed by technology investment giants SoftBank , Alibaba, and Tencent, has started initial talks with investment banks for the long-awaited IPO, according to three people. The people spoke on condition of anonymity as the information, including the identity of the banks, was private. The people said the Beijing-based company is targeting a valuation of more than $60 billion by the time of launching the IPO, expected as soon as in the first half of 2021. Founded eight years ago, Didi has begun generating he...

Uber Chief tightening his grip in the Ride Sharing Firm

8Jun By PriyankaNo Comments

News

Uber Chief tightening his grip in the Ride Sharing Firm

Uber chief Dara Khosrowshahi tightening his grip in the ride-sharing firm in the wake of a bumpy stock market debut. The company's chief operating officer and head of marketing will leave in a leadership shake-up that will result in Uber's shared rides and food delivery platforms reporting directly to Uber chief, according to a mail provided to Pixr8 News. Khosrowshahi credited the maturing of operations at the San Francisco-based company and the completion of its initial public offering last month with enabling him to make the management moves. "I now have the ability to be even more involved in the day-to-day operations of our biggest businesses, the core platform of Rides and Eats, and have decided they should report directly to me," Khosrowshahi said in his message to employe...

Zoomcar Launches Bike-Sharing Service in Mumbai Metropolitan

25Dec By NitishNo Comments

News

Zoomcar Launches Bike-Sharing Service in Mumbai Metropolitan

Self-drive car company Zoomcar has launched its cycle sharing service, PEDL, in the Mumbai Metropolitan Region starting with the privately-developed smart city, Palava. This is the fifth city after Pune, Chennai, Kolkata, and Bengaluru where Zoomcar has launched this service. At present, PEDL cycles have been placed across 30 locations in Palava. Zoomcar said that PEDL has about 200 cycles at launch, and has been able to manage more than 2,000 trips per days on an average since its launch on December 9. "We are piloting the project in Palava here, and will soon spread it across various other locations in Mumbai," said Nirmal NR, VP operations and growth, for Zoomcar Mumbai. However, he did not specify the investments made into the launch of the service. Nirmal, however, said th...

Now Book Ride in Jaguar at Rs 19/km Using Ola Lux

28May By AdityaNo Comments

News

Now Book Ride in Jaguar at Rs 19/km Using Ola Lux

Country's largest taxi aggregator Ola, which recently launched a riding offer at as low as Rs 6/km, today introduced luxury service Ola Lux in the city, under which a rider can choose from a slew of luxe cars. The company said under the new scheme, a passenger can book a Jaguar, Merc, Audi, BMW, Fortuner, Honda Accord for a minimum fare of Rs 200 and charged at Rs 19/km. A ride time charge of Rs 2/min is also applicable, it said. The new chic category is available across south Mumbai to begin with, and would be introduced to other parts of the city soon, Ola Chief Marketing Officer Raghuvesh Sarup said. "With a growing number of young executives, entrepreneurs and professionals, the need for on-demand luxury sedans is growing tremendously in cities," Sarup said, citing t...

Uber launches Bike Taxi “UberMOTO” in Gurgaon

30Mar By Press Trust of IndiaNo Comments

News

Uber launches Bike Taxi “UberMOTO” in Gurgaon

After Bengaluru, taxi-hailing app Uber today launched a pilot of its bikesharing product "uberMOTO" in Gurgaon. "Uber today announced a pilot of Uber's bikesharing product - uberMOTO in Gurgaon... This follows our agreement with the government of Haryana to introduce technology based ride-sharing services in the state," it said in a statement. The company has set minimum fare at Rs 15, followed by Rs 3 per km and Rs 1 per min of ride-time charges. The minimum fare is Rs 20. It will compete with companies like Baxi. "UberMOTO works towards the vision of reducing congestion by helping fill every empty seat on the bikes on road. It enables riders to push a button and share a motorbike ride within minutes," Uber Delhi General Manager Gagan Bhatia said. It's a great way for people t...

12Dec By PriyankaNo Comments

News

Uber Expands Its UberEATS App

Uber announced on Wednesday that it’s delving further info into food delivery with its new UberEATS app, separating its food delivery from its ride-sharing service. The original UberEATS launched in Los Angeles last year, and has since moved into Toronto, New York City, Austin, Chicago, and Barcelona. It promised delivery in 10 minutes or less, but only operated during certain hours, which vary in the different locations, with a selection limited to just a couple of options. The UberEATS app, currently only available in Toronto, offers longer hours and a much wider selection. It will be available every day from 10 a.m. to 10 p.m. and customers can view full menus from over 100 restaurants. It will also offer an Instant Delivery menu during lunch hours for a quicker option that sh...

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 ...