Search Results for:Heather Somerville

China revokes approval for Facebook’s upcoming venture

A Chinese government database showed that Facebook had gained approval to open a subsidiary, but the registration has since disappeared.


Scooter makers ride high with growing demand from well-funded rental startups

Investors poured $3.5 billion into scooter- and bike-rental startups globally for the first half of 2018, according to data firm CB Insights.


Snap bet helps Lightspeed Venture raise $1.8b for new funds

Lightspeed is eyeing a business expansion to Southeast Asia and wants to add investments in cryptocurrency, biotech, new TV streaming services and even cosmetics companies.


China’s penetration of Silicon Valley creates risks for startups

The possibility of a regulatory crackdown has caused unease in the startup world.


Scooter startup Bird raises $300m in latest funding round

The round was led by Sequoia Capital and joined by investors Accel, B Capital, CRV, Sound Ventures, Greycroft and e.ventures.


US real estate startup Opendoor’s valuation tops $2b after new funding

The round was led by investors General Atlantic and Access Technology Ventures, as well as home construction company Lennar Corp.


SoftBank Vision Fund leads $250m round in US enterprise software firm Cohesity

With its second-ever investment in an enterprise software company, the massive fund is seen to broaden its portfolio beyond consumer tech firms such as Uber and DoorDash.


Uber to buy electric cycle-sharing startup JUMP Bikes

The deal signals a shift for Uber toward a wider set of transportation options in urban centres.


Mexico, one of Uber’s most profitable markets, to be invaded by China’s Didi

To learn how to conquer Uber, the Chinese firm is going straight to the source. It is poaching Uber employees for its Mexico management team.


Dropbox IPO price range values firm nearly a third below peak

Dropbox set a price range of $16 to $18 per share, which would raise up to $648 million in the IPO. The pricing is about a 30% drop from the $10 billion valuation it earned in early 2014 after a BlackRock-led financing round.