Industry News Update – Week of 10/9/2017

Last week, Ola, the India-based ride hailing company, received $2 billion in a funding round led by Softbank and Tencent. The use of proceeds is primarily for the purpose of further development of Ola’s electric vehicle technology. The post-money valuation of the round was $3.8 billion.

Shazam disclosed its 2016 financials in which the company increased its revenue by 14.5% to £40.3m ($53.7m) in 2016. The company reduced its net loss from £16.7m ($22.2m) in 2015 to £3.7m ($4.9m) in 2016.

Stripe launched its new Elements feature which allows companies to create a tailored checkout process. This new feature is intended to reduce shopping cart abandonment by enhancing the checkout procedures.

Airbnb partnered up with WeWork to allow business travelers to easily reserve a WeWork location in order to solicit more business from business travelers.

The news articles and links presented below are available for your reference.

AIRBNB

"Airbnb Will Offer Business Travelers Spots at WeWork Locations"

OLA

“Cab Aggregator Ola Raises $2 Billion from Tencent, Softbank"

SHAZAM

"Financials Reveal Shazam Narrowed its Losses to £3.7m in 2016"

STRIPE

"Elements, Stripe’s New Check-out Toolkit, Aims to Boost E-commerce Sales Completions"