Tech-Internet M&A and Investment Database

Be kept informed of the latest tech deals. Get up-to-the-minute analysis about the day’s most interesting fundings and exits. Internet DealBook is a database that tracks the latest angel, VC, private-equity investment and M&A activities across Internet- and technology-related private companies all around the world.

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VICE Media raises $450 million

Commentary

Millennials-focused digital news and lifestyle media company VICE Media has raised $450 million from TPG. The deal valued the company at $5.7 billion, which makes it more valuable than AOL, Oprah, and The New York Times. What makes VICE Media tick is it plays a different game than other media entities like Buzzfeed and Vox. Unlike others, VICE does not rely on social networks like Facebook for content reach but rather, it has its own distribution channels, both online and offline, to showcase its content. It also aggressively pursued various profit opportunities, including acting like an in-house branding agency for its clients and pursuing a branded-content strategy to engage audiences more effectively.

Mobike raises $600 million

Commentary

From US to Russia and from Brazil to China, the bike sharing phenomenon is taking the world by storm, with China leading the pack with millions of bikes in its cities streets. Unlike other bike sharing services, China’s bikes can be picked up and left anywhere in the city. These bikes have GPS and can simply be locked by the user after a ride and unlocked by the next user by using an app. With Uber selling its China-based business to Didi Chuxing, investors are now setting their sights on bikes, particularly Mobike, one of China’s top bike sharing startups. Last week, Mobike scooped up $600 million in a Series E round from a consortium of investors led by Tencent. Previous to this round, the company had raised over $300 million this year alone and now has a total of $925 million in its war chest. According to reports, the money will be used to fund the company’s global expansion.

Ele.me receives over $1 billion in funding

Commentary

According to the China Internet Network Information Centre, China’s food delivery sector is the country’s fastest growing sector of all mobile apps, with around 150 million people ordering online. Leading the pack in the food delivery space is Ele.me, which delivers food from 300,000 restaurants in more than 260 cities. Last week, Ele.me secured over $1 billion in funding from Alibaba and Ant Financial in a deal that valued the company at $6 billion. According to sources, the funding will help Ele.me compete with its biggest rival, Meituan Dianping, which is heavily backed by Alibaba’s biggest competitor Tencent. Tencent holds a minor stake in Ele.me. The Ele.me investment indicates that the Chinese venture capital market remains vibrant despite the country’s economic slowdown.

Everbright-IDG Industrial Fund invests in NIO

Commentary

After getting $600 million in funding last March from Tencent, Baidu and other investors, Shanghai-based electric car maker NIO, formerly known as NextEV, has received an undisclosed sum in a Series C round from Everbright-IDG Industrial Fund. Why are investors so bullish on NIO? According to sources, China’s electric car market is the biggest in the world with more sales than US and Europe in 2015 and 2016. The Chinese government is also pushing to curb air pollution in its cities, thus electric cars are gaining traction. Furthermore, NIO is one of China’s most exciting electric car makers. Last year, its NIO EP9 broke an electric vehicle lap record at Nürburgring Nordschliefe. The company is also smart to introduce a large SUV at a time when demand for SUV vehicles is high among affluent Chinese buyers.