Uber IPO values the company at US$82.4B – New York Times
Ride-hailing giant Uber priced its IPO on Thursday at US$45 a share, near the bottom of its expected price range, New York Times reported.
The company was valued at US$82.4 billion and raised US$8.1 billion from this IPO.
According to the report, the numbers will be a “disappointment” to investors, executives, and supporters who have been having high expectations for the company.
Set to begin trading on on New York Stock Exchange on Friday under the symbol UBER, the company will still have a market capitalisation of its IPO that is beaten only by Chinese e-commerce giant Alibaba (US$168 billion in 2014) and Facebook (US$104 billion in 2012).
Uber partners with Yulu to enter India’s bike-sharing market – Tech In Asia
Uber announced a partnership with Indian bicycle-sharing platform Yulu to mark its entry to the country’s bike-sharing market, Tech In Asia reported.
Uber will provide its users in Bangalore an option to book Yulu e-bikes and bicycles through its app as part of a pilot. However, Yulu’s app will not be integrated into the Uber app.
The ride-hailing giant also did not disclose any financial details of its partnership with Yulu
Uber, which is set to start publicly trading today, did not disclose any financial details about its tie-up with Yulu.
SoftBank Ventures Asia to invest in Indian fintech, AI, healthtech startups – Deal Street Asia
SoftBank Ventures Asia, which had recently launched a US$500-million fund, is scouting for early-stage investments in Asia, particularly India, according to a Deal Street Asia report citing anonymous sources.
The firm is looking to invest US$10-20 million to companies in the healthcare, fintech and artificial intelligence sectors.
While SoftBank is known to make late-stage investments through its SoftBank Vision Fund, with SoftBank Ventures Asia, it aims to focus on early stage investments.
Antler launches in East Africa – Press Release
Startup generator and early stage venture capital (VC) firm Antler today announced the launch of its programme in East Africa, particularly Ethiopia and Kenya.
The programme’s entry to the continent followed its operations in Singapore and Stockholm.
Founded by Zalora co-founder Magnus Grimeland, Antler’s team includes first employee & CTO of Spotify Andreas Ehn and former US Treasury Secretary Larry Summers.
Antler also supports entrepreneurs build disruptive tech companies by providing US$1,500 (for Africa) a
month in phase one of the programme, in addition to a US$100,000 investment offered to each of the most
successful graduates of the programme.