Tag Archives: Internet DealBook

Poly Group invests $400 million in Didi Chuxing 

Commentary

Competition in the ride-hailing industry heats up as Didi Chuxing, Uber’s main rival in China, raised $400 million from Poly Group. Poly Group is one of China’s state-owned trading and real-estate conglomerates. This latest fundraising leaves Didi with a valuation of around $27.6 billion. Didi Chuxing, formerly known as Didi Kuaidi, dominates the Chinese ride-hailing market at more than 14 million rides per day. In addition to the equity fundraising, China Merchants Bank recently led a syndicated loan of $2.5 billion and China Life Insurance lent $300 million in long-term debt to Didi Chuxing. The company now has more than $10 billion in disposable funds which it intends to use to ramp up its competition with Uber. 

Tradeshift raises $75 million

Commentary

Software startup Tradeshift has raised $75 million from a consortium of investors, including Data Collective, HSBC, American Express Ventures, Notion Capital and others. The latest round values the company at around $600 million. Tradeshift sells digital invoicing and supply-chain software to help manufacturing companies streamline their communications and transactions with suppliers. The company offers a host of solutions that includes CloudScan®, which can automate the process of invoicing and eliminate the need for manual input of invoices via email, PDF or email. The company plans to use its new funds to expand globally and introduce new services.

Glassdoor raises $40 million

Commentary

As part of its IPO plan, Glassdoor announced last Friday that it had raised another $40 million in a funding round led by T. Rowe Price Associates. This brings the startup’s total funding to $201.5 million with a valuation of around $1 billion. The company is known for helping jobseekers to find the right company for them. It provides unbiased reviews and commentary from both current and former employees of more than 400,000 companies worldwide. Glassdoor has revolutionised job hunting in the US and abroad by providing inside information to potential employees and creating more transparency. According to Glassdoor founder and CEO Robert Hohman, the funding will be used to invest in machine learning technology to make better matches between jobseekers and jobs.

Top 20 Deals for May 2016

Deal No.Amount Paid (USD)CompanyInvestor/BuyerSectorDeal Type
1$2,400,000,000Blue Coat SystemsBain CapitalSoftware & ServicesAcquisition
2$1,960,000,000PolycomMitelSoftware & ServicesAcquisition
3$1,800,000,000SnapchatConsortiumMobile & AppsInvestment
4$1,800,000,000MarketoVista Equity PartnersMarketingAcquisition
5$1,600,000,000Wind MobileSunShawMobile & AppsAcquisition
6$1,449,050,000VocaLinkMasterCardSoftware & ServicesAcquisition
7$1,400,000,000Jasper TechnologiesCiscoSoftware & ServicesAcquisition
8$1,250,000,000Ele.meAlibabaTransactionsInvestment
9$1,200,000,000LeSportsConsortiumGamesInvestment
10$1,000,000,000Didi ChuxingAppleTransactionsInvestment
11$1,000,000,000Lazada GroupAlibabaEcommerceAcquisition
12$1,000,000,000LyftConsortiumTransactionsInvestment
13$870,000,000SolidFireNetAppSoftware & ServicesAcquisition
14$793,500,000Magic LeapConsortiumSoftware & ServicesInvestment
15$633,000,000TexturaOracleSoftware & ServicesAcquisition
16$540,000,000Serena SoftwareMicro FocusSoftware & ServicesAcquisition
17$500,000,000Ping An Good DoctorUndisclosedMobile & AppsInvestment
18$400,000,000SintecMediaFrancisco PartnersSoftware & ServicesAcquisition
19$360,000,000TapadTelenor GroupMarketingAcquisition
20$350,000,000Microsoft (feature phone business)FIH MobileSoftware & ServicesAcquisition

More information

  1. Bain Capital to Buy Blue Coat Systems (The Wall Street Journal)
  2. Mitel buys Polycom for $1.96B in enterprise communications consolidation play (TechCrunch)
  3. Snapchat raised $1.8B in a Series F round; leaked deck reveals revenues, user numbers (TechCrunch)
  4. Vista Equity Partners buys marketing automation giant Marketo for $1.8B in cash (TechCrunch)
  5. Shaw completes $1.6 billion acquisition of wireless carrier Wind Mobile (Vancouver Sun)
  6. MasterCard closes in on £1bn VocaLink acquisition (Banking Tech)
  7. Cisco Takes A Leap In IoT With Jasper Acquisition (Forbes)
  8. Alibaba confirms $1.25B investment in food delivery service Ele.me (TechCrunch)
  9. LeSports Secures $1.2 Billion in Series B Financing (FinSMEs)
  10. Apple invests $1bn in Chinese ride-hailing app Didi Chuxing (Reuters)
  11. Alibaba Makes $1 Billion Investment in Lazada Group (FinSMEs)
  12. Lyft Raises $1 Billion; Valued at $5.5 Billion (FinSMEs)
  13. NetApp to Acquire SolidFire, for $870M (FinSMEs)
  14. Magic Leap Raises $793.5M in Funding (FinSMEs)
  15. Oracle to buy Textura in $663 million deal (MarketWatch)
  16. Micro Focus to buy Serena Software in $540m deal (ZDNet)
  17. Chinese Healthcare App Ping An Good Doctor Closes USD$500M Series A Venture Capital Round (FinSMEs)
  18. Francisco Partners buys Israeli startup SintecMedia for $400 million (GeekTime)
  19. Telenor Group Acquires Tapad for $360M (FinSMEs)
  20. Microsoft is selling its feature phone business to Foxconn for $350 million (The Verge)