Tag Archives: investment

Indonesia’s Go-Jek raises $1.2 billion from Tencent

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Fresh from its $550 million funding round last year from investors such as KKR, Warburg Pincus, Farallon Capital, and Capital Group Private Markets, Go-Jek, Indonesia’s answer to Uber and Grab, has recently closed a new round of $1.2 billion led by Chinese internet leader, Tencent. At a $3 billion post-money valuation, Go-Jek is one of Asia’s fast-rising unicorns. According to sources, Go-Jek has been beating Uber in Indonesia since day one. By offering scooters instead of cars, Go-Jek has cautiously avoided a direct collision with the more established taxi industry. Being homegrown also gave the company the advantage of having a deeper understanding of the local market and easily attracted scooter owners to its platform. The company has since expanded into cars with its GoCar and today boasts of having over 200,000 drivers all across the country. The company plans to use its new funds to strengthen its Indonesian operations and hopefully dominate the country’s thriving ride-sharing market which is predicted to be worth $5.6 billion by 2025.

Flipkart raises $1.4 billion in a bid to go head-to-head with Amazon

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India’s largest ecommerce site Flipkart has recently closed a massive funding round of $1.4 billion from Microsoft, eBay, and Tencent. It has also acquired eBay India. According to sources, the new funds will be used to strengthen Flipkart’s firepower to tackle major players like Amazon and Alibaba. Talks are also rife that Flipkart is planning to merge with local rival Snapdeal, which is backed by Japan’s Softbank. If the merger between Flipkart and Snapdeal finally occurs, it will soon become a three-way fight between Amazon, Flipkart, and Paytm, which has Alibaba as its biggest stakeholder. India’s ecommerce market is the second largest in the world next to China, and projected to be worth $47 billion by 2020.

Airbnb closes $1 billion round

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After raising $555.5 million last year, vacation marketplace Airbnb raised an additional $447.8 million as it closed its Series F round. This brings its total round to $1 billion and raises the company’s valuation to a solid $31 billion. The investment comes in the wake of the recent Snap IPO, which raised questions about which other unicorn may go public this year. Although Airbnb looks ripe for an IPO in 2017, the company has no intention of going public anytime soon. After all, it already has billions in its war chest, enjoys operational flexibility and is profitable. Recently, the company used its billions to acquire payment startup Tilt and high-end vacation rental manager Luxury Retreat to improve its offerings. The new funding has made Airbnb the second most valuable, venture-backed tech start-up in the world after Uber.

Ford to invest $1 billion in Argo AI

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In a bid to catch up with rivals in the self-driving car race, Ford is investing $1 billion during the next five years in Argo AI, a Pennsylvania-based startup specialising in robotics and artificial intelligence. Founded by two top engineers from Google and Uber, Argo AI will work to develop a virtual driver software platform for Ford’s fully autonomous vehicles which are scheduled to be launched in 2021. The deal is Ford’s largest investment in autonomous technology, which includes its recent acquisition of Chariot for less than $1 billion as well as a multi-million investment in Velodyne. The deal follows General Motors’ purchase of Cruise Automation, a startup developing self-driving cars and Uber’s acquisition of Otto, another self-driving startup focused on trucks.