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Quibi Reportedly Planning Up To $1 Billion Raise

According to a report from The Information, Quibi -- the mobile video streaming service led by Hollywood veteran Jeffrey Katzenberg and former HP and eBay CEO Meg Whitman -- is planning to raise up to $1 billion, months after a $1 billion raise August last year. Current investors in Quibi include the likes of Alibaba, Goldman Sachs, JPMorgan Chase, Sony Pictures, Viacom, Disney, 21st Century Fox, NBCUniversal, and Warner Media.

Some of Quibi's investors also double as strategic partners. Based out of Los Angeles, Quibi's service -- a mashup of Netflix meets YouTube -- is expected to launch next year, according to CEO Jeffrey Katzenberg. Katzenberg had previously told Variety that he was seeking to raise $2 billion for Quibi, entailing the report of an additional $1 billion raise is not quite far-fetched.


Quibi is focused on short-form videos of under 10 minutes or so in length that'll be made available on its app. Katzenberg has a long history and expertise in film-making…

Indian food delivery platform gets $210 million Series G investment at a huge $1.3 Billion valuation


image credit : Swiggy

Indian based food delivery startup Swiggy which food ordering solutions from neighborhood restaurants to various customers in the Indian region has now joined the unicorn club after raising $210 million in a new Series G investment round led by Naspers with notable investor DST Global, Chinese internet company Meituan Dianping and Phillipe Laffont led notable tech investor Coatue Management also participating in the investment round.

The company raised this whooping $210 million round at a valuation of $1.3 Billion which has shot it into the global unicorn club amidst other major food delivery players in the space.

This investment which brings the total raised by Swiggy to a huge $465 million comes 4 months after the company raised a Series F investment round of $100 million from Naspers and Meituan Dianping who also participated in this round.

Swiggy which is a major market player in the Indian food delivery space has also seen huge competition from other companies including online search and restaurant discovery service Zomato which also offers food ordering through its platform and was last valued at $1.1 Billion after raising a $200 million round early February this year from Chinese fintech giant Ant Financial.




According to Swiggy, It currently has 35,000 restaurants on its delivery partnership platform with a delivery fleet of over 40,000 currently running its service, This shows that Swiggy is on par and ready to take on huge competition in the capital intensive and widely competitive food delivery market.

The most funded food delivery startup in the Indian space hasn't yet clearly stated where these funds would be directed to but is predictably going to make use of these investment to expand its restaurant partnerships, food delivery fleet and customers alike.

Swiggy makes revenue by charging a commission from the orders made by various consumers to the restaurants on its platform which indicates a readily scalable and viable business model for the company.

Swiggy was founded August 2014 by entrepreneur trio Rahul Jaimini, Nandan Reddy and Sriharsha Majety and has been on an expansion spree since then after first raising a Series A round of $2 million way back in 2015.






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image credit : SimpliSafe

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