The funding valued Ola at about $3.5 b, down 30% from a peak valuation of $5b
Fenqile, a Chinese online shopping mall that lets users pay in installments, is planning a U.S. initial public offering that could raise about $600 million, according to people with knowledge of the matter. The Shenzhen-based startup, founded by former Tencent Holdings Ltd. executive Xiao Wenjie, could list as soon as… Read more »
Franklin Templeton PE has exited Daily Hunt, while SBI is looking to hike stake in its credit card JVs with General Electric. Also, Tech Mahindra plans to raise external funding for 3 in-house startups. Franklin Templeton PE exits Dailyhunt, gets three-fold return Franklin Templeton Private Equity Strategy has sold its… Read more »
Valuation markdowns, executive departures, job cuts, market share losses (to American rivals) and a lack of big-ticket fund raises dominated the headlines in 2016.
Healthcare services platform Practo Technologies Pvt. Ltd has acquired Enlightiks Business Solutions Pvt. Ltd, a healthcare analytics solutions firm, in a cash and stock deal. Established in 2012, with offices in Bengaluru and Charlotte in the US, Enlightiks owns a predictive clinical and computational platform called Querent and uses big… Read more »
Go-Jek will add five new services as Indonesia’s fastest-growing startup deepens its range of on-demand products to dominate its home market before embarking on regional expansion. The company has already moved from its roots as a source of cheap motorcycle rides in Jakarta and 14 other cities to become Indonesia’s… Read more »
India’s Ola is raising funds at a sharply reduced valuation of about $3 billion, a person with direct knowledge of the matter said, as the country’s foremost ride-hailing service tries to amass capital to stave off a challenge from Uber Technologies Inc. If the deal goes through, Ola would become… Read more »
Healthcare start-up Practo Technologies Pvt. Ltd recorded a five-fold increase in revenue in the fiscal year ended 31 March, while its loss widened almost five times, documents filed with the Registrar of Companies show. Practo clocked revenue of Rs165.14 crore for the year ended 31 March, 2016, as against Rs29.73… Read more »
As long as Didi owns shares in Ola, or for a period of two years after it sells its shares in Ola, Didi must not link up with any business that competes with Ola, according to according to documents filed with India’s Registrar of Companies.