Tag Archives: Uber

The future of mobility

Commentary
The recent partnership between Apple and Didi Chuxing underscores the changing market dynamics in today’s auto industry. Consumers have started to shift from traditional car ownership to ride sharing, while tech companies are investing heavily in autonomous driving technologies in the hopes to make the roads safer and traveling more convenient. It’s a combination of these trends that has created a market conducive for partnerships and investments. In addition to Apple’s investment in Didi, other companies have recently partnered up, either to take on Uber or to explore the possibilities of autonomous cars. General Motors invested in Lyft, who has teamed up with Didi, Ola and Grab. Google has partnered with Fiat Chrysler Automobiles. The Chinese rivals Alibaba and Tencent have both invested in Didi. In short, this market consists of many alliances and these partnerships will surely unlock new transportation experiences for consumers.

Cabify raises $120 million at $320 million valuation

Commentary
In the highly competitive world of on-demand transportation, there is never a shortage of ride-haling startups trying to be the number one. In Spain, Cabify is considered as the country’s biggest player, operating in 14 different cities across Spain and Latin America. Today, the company announced it has raised $120 million from Rakuten and other investors. The round values the Uber competitor at around $320 million. According to the company, it plans to use the capital to expand into major cities like São Paulo, Rio de Janeiro and Buenos Aires, as well as other cities in Europe.

You can read about the funding here.

Checkr raises $40 million to expand its service

Commentary
The success of on-demand businesses like Uber and GrubHub, has sparked the growth of B2B startups that provide support services for these companies. One such company is Checkr, a leading background check service used by the on-demand economy. Checkr runs employee background checks and vets potential hires by way of an API. Some of Checkr’s clients are Uber, Instacart, DoorDash and GrubHub and the company processes over 30,000 background checks per month. The company recently raised $40 million so it can expand its service outside of the on-demand ecosystem to include peer-to-peer commerce, marketplace businesses, and enterprises.

Didi Kuaidi’s projected valuation at more than $20 billion – February 25, 2016

Commentary

Didi Kuaidi is China’s leading ride-hailing app and UberChina’s fiercest competitor. Just like Uber, Didi Kuaidi is one of the world’s most valuable startups with a current valuation of $16 billion and an annual revenue estimate of around $200 million.

In a bid to challenge UberChina, Didi Kuaidi recently received at least $1 billion in investment commitments from various investors. Once completed, the fundraising round would value Didi at more than $20 billion. This round follows the company’s $3 billion fundraising last September.

You can read about Didi’s fundraising plans here.