WeWork to go IPO in September [Techcrunch]
Co-working space unicorn WeWork speeds up its plans to go public as it is expected to unveil is S-1 filing next month just ahead of a September initial public offering.
Earlier this year, the company that goes by the name The We Company is already valued at
US$47 billion. According to Techcrunch, the company is now in the process of meeting with Wall Street banks to secure an asset-backed loan upwards of US$6 billion in what could be an effort to downsize its upcoming stock offering.
WeWork has raised a total of US$8.4 billion in a combination of debt and equity funding since it was founded in 2011. Its IPO is poised to become the second-largest offering of the year.
Following rebranding, Gojek adds Garibaldi Thohir as commissioner [DealStreetAsia]
After announcing rebranding two days ago, Gojek announced the appointment of energy sector tycoon Garibaldi Thohir as its commissioner. Garibaldi Thohir is the president director of coal mining giant Adaro Energy.
Garibaldi Thohir acquired Adaro with a consortium of Indonesian businessmen in 2015 from Australia’s company New Hope. He occupied the 16th position on Forbes Indonesia rich list in 2018.
He established a motorcycle financing company Wahana Ottomitra Multiartha (WOM Finance) in 1997 and also owns a stake in Hutchison 3 Indonesia, a telecom services company.
He graduated from the University of Southern California in 1988 and received an MBA from Northrop University, California, in 1989. Garibaldi Thohir recently invested an undisclosed sum for a majority stake in Muslim app Umma, founded by Northstar Group’s Indra Wiralaksmana.
India-based employee benefits startup Zeta raises Series C investment valued at US$300M [Press Release]
Zeta, cloud-based credit, debit, and prepaid products issuance platform for the employee benefits based in India, announced that it has raised a Series C funding from Sodexo Benefits and Rewards (BRS), at a valuation of US$300 million.
Zeta said that it will use the fund to expand its cloud banking platform and digital payments solutions in the United States, United Kingdom, Europe, and Southeast Asia.
Zeta was established in 2015, and currently has products such as a full-stack cloud-native neo-banking platform for issuance of credit, debit and prepaid products that enable legacy banks and new-age fintech institutions to launch retail and corporate fintech products, as well as an enterprise solution for corporates such as automated cafeteria, employee gifting, & R&R.
Until now, Zeta has been funded by co-founders Bhavin Turakhia and Ramki Gaddipati. With this investment Sodexo will have a minority stake in the company.
Indonesian salestech Pomona completes US$3M funding from Vynn Capital [e27]
Pomona, an Indonesia-based omnichannel marketing and sales-tech startup, announced the completion of US$3 million in “Series A-2” funding round led by Vynn Capital. Joining the round are Ventech China and Amand Ventures, as well as existing investors Stellar Kapital and Central Capital Ventura.
Pomona said that it will use the funding to introduce new services, accelerate product development, and hire new staff. New products will include tools for companies to improve supplier and retailer relationship management and improve business transparency.
Pomona was co-founded in May 2016 by Benz Budiman (CEO) and Ari Suwendi (CTO) with a focus on providing digital marketing and sales services for global consumer packaged goods (CPG) and fast-moving consumer goods (FMCG) industry. Pomona leverages consumer cashback options to facilitate brand-consumer engagement and promote sales conversion. The approach allows customers to receive money back on qualified and promotional goods by uploading a proof of purchase photo into its app.