Industry News Update – Week of 7/17/2017

Last week, Coupang, WeWork and Grab have been procuring funding. Coupang is raising $500 million prior to its IPO which is being managed by Goldman Sachs. WeWork’s valuation rose to $20 billion once the company raised $760 million as part of its Series G funding round.  Grab raised $2 billion from Didi Chuxing and Softbank and is now valued at $5 billion.

Uber acquired Swipe Labs, photo sharing app, to further develop its drivers' earnings features which will improve its drivers' experience.

Uber also consolidated its Russian operations with Yandex, Russian search engine company, to create a new ridesharing entity that is valued at $3.7 billion.

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

COUPANG

“Coupang Plans To Raise US$500m Funds Before NASDAQ Listing"

GRAB

“This Uber Rival Just Raised $2 Billion From Softbank And China’s Didi Chuxing"

UBER

"Uber Acqui-Hires Social App Studio Swipe Labs"

“Uber, Yandex Combine Ridesharing And Ubereats In Russian Markets In A $3.72B JV"

WEWORK

“Office-Sharing Start-Up Wework Gets $760 Million In New Cash"