By Ka Kay Lum
Malaysia’s transport ministry said it has received numerous complaints of price surge after the Grab-Uber deal.
Tik Tok is operated by venture-capitalist backed Toutiao, one of China’s fastest-growing technology startups valued at over $30 billion.
Last week, the Singapore Competition and Consumer Commission had said that it had found evidence that the Grab-Uber merger has substantially lessened competition.
The ride-hailing major said it crossed 2 billion rides this month.
The investment round was led by GV, formerly Google Ventures, and the other new investors included IVP, Atomico and Fidelity Management and Research Company. The latest investment round values California-based Lime at $1.1 billion.
While GTV is not a true indicator of a company’s health, it does reflect the high adoption of Paytm as a payments platform in the country.
Careem, the main Middle East rival of Uber Technologies, has been trialing food delivery services after announcing in February it had acquired regional online restaurant listing platform RoundMenu.
Asiatravel.com said its board recommended that its share trading be suspended immediately given the ‘‘dynamic situation.”
The investment is likely a part of the $200 million funding round Policybazaar raised last month.
iflix last raised $133 million in September 2017 in a round led by US-based Hearst Communications and Singapore-based EDBI as well as clients of DBS Private Bank.