Industry News Update – Week of 8/7/2017

Last week,  Didi Chuxing invested funds into Taxify, European ride sharing company, to expand its international presence.

Grab released its new GrabNow app that is expected to make its ride sharing transactions cashless.

Flipkart successfully merged with eBay India and received $500 million from eBay. As part of the deal, eBay will obtain equity in Flipkart.

Prosper is closing a $50 million funding round. The company’s latest valuation was $550 million which is a 70% decrease from its last round valuation.

SoFi’s CEO announced that the company’s IPO is expected soon after revealing SoFi’s Q2 2017 financials of $134 million in revenue and $61.6 million in EBITDA.

Spotify surpassed 60 million paying subscribers on July 31st.

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

DIDI CHUXING

“Didi Chuxing to Invest and Partner With Uber's European Rival Taxify"

GRAB

“Grab Launches GrabNow to Encourage Taxi Drivers to go Cashless"

FLIPKART

“eBay Sells eBay.in Business to Flipkart"

PROSPER

“Fintech Lender Prosper's Valuation Dives 70% in Latest Funding Round"

SOFI

“SoFi Hints at IPO, Reports Record Results”

SPOTIFY

“Spotify Preps to go public With 60M Subscribers, Outpacing Apple"