Uber Loss Touches $5.2 Bn, Even As Revenue Remains Stagnant
Uber just reported its second quarterly earnings ever as a public company, and that’s a lot of red ink. The ride-hailing giant losing a whopping $5.2 billion in the second quarter as compared to $3.7 Bn in the first quarter of 2019.
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UrbanClap Inches Closer To Unicorn Club With Latest $933 Mn ValuationGurugram-headquartered home services startup UrbanClap has inched closer to the unicorn club with its latest $75 Mn Series E funding, part of which has been transferred over to the company. Last week, UrbanClap announced that it has raised $75 Mn led by Tiger Global with participation from existing investors Steadview Capital and Vy Capital.
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Startup News Snippets
M&A News
Market Pulse
- New Delhi-based online Cricket Fantasy gaming platform BalleBaazi has raised $4 Mn in a Series A funding from Delhi-based Snap Angel Tech and an Singapore-based investor
- Indore-based agritech startup Gramophone has raised $3.5 Mn from existing investor Info Edge Ventures along with Raveen Sastry, cofounder, Myntra and Asha Impact
- Credit card bill payment utility app Cred to raise $125 Mn Series A funding which is expected to increase the Cred’s valuation upto $500 Mn
- WeWork is setting up $6 Bn in financing and looking to borrow in two ways: a $2 Bn letter-of-credit facility and a $4 Bn delayed-draw term loan
- Telangana’s state-backed startup programme T-Hub has announced the launch of its HealthTech Arcade programme in partnership with Optum
- Mumbai-based offline pharmacy distributor Ascent Health to raise $100 Mn in an equity financing round from Singapore-backed investment major Temasek Holdings
- Bengaluru-based news and ebooks mobile app Dailyhunt has raised $3 Mn in a Series F funding from investment advisor firm Stonebridge Capital