You can thank Travis Kalanick for Baidu Inc.’s strong earnings Friday. If it weren’t for the chief executive officer of Uber Technologies Inc. being pragmatic about his China business and selling to Didi Chuxing last year, Baidu wouldn’t have been able to swap its shares in Uber China for those… Read more »
No one should be surprised about job cuts at Jasper Infotech Pvt’s Snapdeal. The Indian media have chronicled the struggles facing the country’s e-commerce industry, including executive departures and lower equity valuations, and I foreshadowed trouble back in July in looking at rescinded job offers for college students. Shining a… Read more »
JD Finance is under investigation over allegations it breached securities laws.
Chinese startup Raven Tech is the latest item from the menu.
I don’t consider Uber Eats to be a separate service, but a different flavor of the same product, and the fact that Uber is still burning cash despite being the dominant provider in most markets in which it operates shows the fragility of the business model.
There’s a lot to suggest that might be the case, with big names from 500 Startups Management Co. to Google Inc talking up the region. Its potential to grow into a $200 billion internet economy “is an idea whose time has come,” Sajith Sivanandan, who oversees Malaysia, Vietnam, the Philippines… Read more »
We all know that a downround is a fate worse than out-of-the-money options. Earlier investors see the worth of their stake decline when a subsequent injection of equity capital is done at a lower valuation.
Two news items in the past 24 hours serve as positive indicators that India’s e-commerce sector may be turning rational.
Outside of China, though, Didi has started forging partnerships with Uber’s competitors. In the US, it’s working with Lyft. In India, users will be able to hail an Olacabs car from their Didi app; similarly through Southeast Asia, where it’s hooked up with Grab.
The two e-commerce companies are burning through cash and it doesn’t look like the flames of competition are going to die down while they’re being fanned by that 800-pound American gorilla called Amazon and its $15.9 billion war chest.