By Sam Nussey
This is the latest tie-up between companies in Japan looking to bolster their online offerings in the face of competition from Amazon. In January, Walmart and Rakuten said they would launch an online grocery delivery service.
Toyota is already an Uber backer, having invested an undisclosed amount in the US firm in 2016 as part of a collaboration into ride-sharing technology.
Vinasun has sued Grab for “unfair competition” and is seeking a compensation of $1.8 million for the loss in profit it alleges it suffered in 2016 and 2017.
No. 1 Bicycle said on its website that it was shutting due to changes in its operating direction.
Analysis of 43 consumer internet firms’ results shows cumulative losses of more than Rs19,200 Cr for fiscal 17
As the company continued to spend heavily to maintain its slender lead over arch-rival Amazon India.
Mobility startups pocketed $28 billion from investors last year, while the top five ride-hailing firms are now worth $129 billion.
The latest fund infusion gives the firm a pre-money valuation of $250 million and a post-money valuation of $265 million.
Years of investments in warehouses and robots and data centers and gadgets paid off big for Amazon over the holidays.
Kakao could spend more than 70 percent of the money raised from GDRs on M&A and acquire companies this year and in early 2019.