Industry News Update – Week of 4/16/2018:

Last week, SpaceX, DJI, Meituan-Dianping, Ant Financial were raising funds. SpaceX raised $500 million and was valued at $25 billion. DJI was in talks to raise between $500 million and $800 million to manufacture drones for new verticals such as energy, construction and agriculture. Following this funding round, DJI 's valuation was expected to increase to $15 billion. Ant Financial was seeking $9 billion at a $150 billion valuation to expand its international presence through investing and acquisition efforts. Meituan-Dianping was planning to raise $3 billion at a $40 billion valuation to enhance its delivery and ride-hailing business.

Coupang generated 2.7 trillion won ($2.5 billion) in revenue (40% increase compared to 2016) and accrued 638.8 billion won ($595 million) in net losses (13% increase compared to 2016) in 2017.

WeWork acquired Naked Hub, a Chinese co-working firm, for $400 million to increase its presence in China.

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

Ant Financial

"Ant Financial reportedly Raising $9 Billion at a $150 Billion Valuation"

Coupang

"Coupang's Revenue Increased 40% to ₩2.7 tril. in 2017"

DJI

"Chinese Drone Maker DJI Seeking at Least $500 Million in Funds: Sources"

Meituan-Dianping

“Meituan-Dianping in Talks to Raise $3 Billion, Sources Say”

SpaceX

"SpaceX Is Raising A $500 Million Funding Round At A $25 Billion Valuation”

WEWORK

"WeWork Is Diving Headfirst Into China With a Big New Buy"