Skip to main content

Gett Reportedly Looking To Go Public This Year

According to the Financial Times, Gett - an Israeli based ride-hailing startup valued at $1.4 billion from a last year round - is planning an IPO this year, potentially joining Lyft and Uber which are expected to also go public this year. According to FT, Gett is planning a listing in either Israel or on the London Stock Exchange.

Citing CEO Dave Waiser, the FT reports Gett considered a listing after seeing that ride-hailing rival Lyft planned to go public, despite growing losses. “We will see how Lyft goes, we believe there’s a lot of public capital waiting for the [technology] darlings [Uber and Lyft], but we also believe that our business model makes sense,” Waiser said.


Citing a monthly profit chart, the Financial Times says Gett's global business lost $3.5 million in December, but expects to ink more than $1 million in Profit this December. It also says its more mature European business inked $2.4 million in losses but is projected to record a higher profit by the end of thi…

JD Finance raises $2 Billion in new Series B investment

JD CEO Liu Qiangdong
image credit : JD.com

Chinese e-commerce company JD.com's finance unit has now raised a $2 Billion Series B round of funding from 3 major investors in this fundraising round which is reported to double the valuation of JD Finance ahead of a reported public offering.

JP will put these funds towards investing in several financial institutions along with its expansion plans of getting banking licenses and securities as the company aims to offer more services to global consumers.

According to Reuters, This investment comes with a valuation of 120 Billion Yuan amounting to $18 Billion for the company which stands as 2 times its previous $9 Billion valuation with the company having raised about $5 Billion in total counting Chinese major investment bank CICC, Sequioa Capital China, China Creation Ventures and 4 others as its backers.





Several reports also states of a possibility of more investors joining the funding round which could increase the company's valuation and the amount being raised in total.

JD Finance is known for its financial products ecosystem which includes the provision of payments technologies, asset management, financing solutions, crowdfunding and several consumer and enterprise financial services.

With JD.com's already strong user base, JD Finance took advantage of its wide user base and has seen its finance unit rack up many users for its connected platform.

This funding round also notably boosts JD's hold as one of the major financial technology companies as it competes in its market with several others with its arch-rival Alibaba, Tencent (who is a backer of JD.com), Baidu and several other Chinese companies.





These companies' financial units are noted for having raised huge amounts of funding with Baidu's financial arm earlier this year raising $1.9 Billion from major tech investor TPG, The Carlyle Group and other investors amongst a consortium along with Ant Financial which raised a behemoth $14 Billion funding  at a huge $150 Billion Valuation last month in a round which currently stands as the largest eve raised by a private company also clearly stating a sign of investors with huge capital always ready to back major fintech companies who already have a large user base to very well leverage.

JD.com also took a $550 million investment from Google just last month in a bid to partner with the company offering its products on the Google Shopping platform marking a foray into China for Google and its affiliated services.

JD Finance parent JD.com is currently publicly traded on the Nasdaq stock exchange with a huge market value of $55.57 Billion (as of writing) and made behemoth revenue totaling $55.7 Billion last year.

With these funding, JD.com is set to grasp a hold of the vast financial market mainly in the Chinese region which has seen so many competitors and startups rapidly delivering and developing products for this market in a bid to gain more consumer standing as major companies compete and offer different perks to attract more customers to their platforms.






Comments

Most Read Posts

Apple Debuts Two New iPads

Ahead of a March 25 event expected to showcase its moves into subscription based software, Apple has unveiled two new additions to the iPad lineup: a new 10.5-inch iPad Air and 7.9-inch iPad mini. It says the new iPad Air comes with a 70% performance boost and twice the graphics capability of the previous version.

Features of the new iPads include:

iPad Air:
Apple Pencil SupportA12 Bionic chip'Advanced Retina display with True Tone technology' - nearly 20 percent larger (with over half a million more pixels) than the previous versioneSIM technology.


The features of the new iPad mini are also quite similar to the new iPad Air. Apple says the new iPad mini comes with three times the performance and nine times faster graphics than the preceding version. It also says it's "25 percent brighter and has the highest pixel density of any iPad".

Set to hit stores next week, the new iPad mini starts at $400 for the Wi-Fi model and $530 for the Wi-Fi + Cellular model, while …

Gett Reportedly Looking To Go Public This Year

According to the Financial Times, Gett - an Israeli based ride-hailing startup valued at $1.4 billion from a last year round - is planning an IPO this year, potentially joining Lyft and Uber which are expected to also go public this year. According to FT, Gett is planning a listing in either Israel or on the London Stock Exchange.

Citing CEO Dave Waiser, the FT reports Gett considered a listing after seeing that ride-hailing rival Lyft planned to go public, despite growing losses. “We will see how Lyft goes, we believe there’s a lot of public capital waiting for the [technology] darlings [Uber and Lyft], but we also believe that our business model makes sense,” Waiser said.


Citing a monthly profit chart, the Financial Times says Gett's global business lost $3.5 million in December, but expects to ink more than $1 million in Profit this December. It also says its more mature European business inked $2.4 million in losses but is projected to record a higher profit by the end of thi…

Jury Rules Apple Infringed On Qualcomm Patents

A San Diego jury has ruled in favor of Qualcomm concerning its on-going legal spat with Apple, awarding the chipmaker $31 million from Apple which it found in infringement of three Qualcomm patents. This gives Qualcomm the victory in a long legal dispute with origins last year when it sued Apple alleging it infringed patents related to enabling smartphones gain better battery life.

During a jury trial that lasted 8 days, Qualcomm requested Apple pay royalties of up to $1.41 per iPhone that violated its patents. "Today's unanimous jury verdict is the latest victory in our worldwide patent litigation directed at holding Apple accountable for using our valuable technologies without paying for them," Qualcomm General Counsel Don Rosenberg said in a statement. "The technologies invented by Qualcomm and others are what made it possible for Apple to enter the market and become so successful so quickly.


Apple in defense said it was "disappointed" with the jury…

Volvo Debuts Speed-Limit Setting Key

Following Volvo's move to set a 180km/h top speed limit on all its vehicles beginning 2020, Volvo has unveiled the Care Key, a device that allows users of its vehicles to set a speed limit for themselves, family members or friends. The Care Key will become standard on all its vehicles beginning 2021.

The device lets Volvo drivers set limitations on their car's top speed before use, or lending to acquaintances, tackling the issue of over-speeding on roads. In addition to capping speed, Volvo says it's currently courting insurance companies in several markets "to conversations" to offer favorable, special insurance packages to drivers using its safety features.


Volvo says it expects to announce the first of such agreements with national insurance firms soon. “We believe that a car maker has a responsibility to help improve traffic safety,” Volvo CEO HÃ¥kan Samuelsson said. “Our recently announced speed limit fits that thinking and the Care Key is another example. M…

Nvidia Debuts $100 AI Computer

Nvidia has unveiled the Jetson Nano, a new $100 AI computer that delivers 472 GFLOPS of computing performance for running AI workloads, and is power-efficient, consuming as little as 5 watts. Nvidia CEO Jensen Huang unveiled the device at the on-going GPU Technology Conference, where the company also announced a self-driving collaboration with Toyota.

The Jetson Nano actually comes in two versions - a $100 devkit for developers and a $130 production ready module for companies looking to utilize it to create mass-market systems. Nvidia says it can run several neural networks on each sensor stream, process many sensors in parallel and support high-resolution sensors and many popular AI frameworks.


Specs of the AI device includes:
Linux for Tegra - OS SupportGigabit Ethernet connectivity4 GB 64-bit LPDDR4 memoryQuad-core ARM A57 CPU 128-core Nvidia Maxwell architecture-based GPUVideo: 4K @ 30 fps (H.264/H.265) / 4K @ 60 fps (H.264/H.265) encode and decodeCamera: MIPI CSI-2 DPHY lanes, 12…

Volvo Outs In-Car Cameras To Tackle Unsafe Driving

Volvo has unveiled new in-car cameras that it says will help tackle drunk and distracted driving in its vehicles. These cameras will see its debut on Volvo vehicles early next year. Volvo says the in-car cameras in conjuction with other sensors will allow the car to intervene if "a clearly intoxicated or distracted driver does not respond to warning signals and is risking an accident involving serious injury or death".

The vehicle's intervention could involve limiting speed, alerting the Volvo on Call assistance service, and actively slowing down and safely parking the car as a final course of action. Examples of situations where the camera comes into effect include a complete lack of steering input for long periods, drivers who are detected to have their eyes off the road, extreme lane weaving and slow reaction times.


Details on the exact amount of cameras and their positioning in the interior of Volvo vehicles will be revealed later. Volvo also debuted a new speed-lim…

HP Debuts New VR Headset

At the HP Reinvent conference, HP unveiled a new VR headset - the Reverb, a new "grounds-up designed" headset with twice the resolution, two-thirds the weight and half the cost of of the preceding HP Mixed Reality VR Headset. With the debut of this new headset, HP says it worked on a device that addresses three pain points commonly associated with VR headsets: visual quality, comfort and worry-free deployment and support.

Weighing just 1.1. pounds, features of the HP Reverb include:
2160 x 2160 display 114-degree field of viewIntegrated headphonesDual microphonesPre-paired motion controllersWindows Mixed Reality and Steam VR supportBluetooth connectivityRemovable, cleanable facemask cushions


The new headset comes in two versions: a Consumer Edition and Pro Edition. Set for availability in April, they'll go for $600 and $650 respectively. The Pro edition comes with an additional 0.6m headset cable and a washable fabric face cushion, hence the price.



Toyota and Nvidia Collaborate For Self-Driving Tech

Toyota has tapped Nvidia for a collaboration to 'develop, train and validate self-driving vehicles', Nvidia announced on Monday at the on-going GPU Technology Conference (GTC) . This partnership builds on an already existing relationship with Toyota to utilize the Nvidia Drive "scalable AI platform for autonomous driving", and is based on collaboration between teams from Nvidia, Toyota Research Institute-Advanced Development (TRI-AD) in Japan and the Toyota Research Institute (TRI) in the U.S.

Nvidia says the agreement included the development of "an architecture that can be scaled across many vehicle models and types", boosting production and development timeline, and also "simulating the equivalent of billions of miles of driving in challenging scenarios."


“Our vision is to enable self-driving vehicles with the ultimate goal of reducing fatalities to zero, enabling smoother transportation, and providing mobility for all,” TRI-AD CEO Dr. James K…

Atlassian Snaps Up AgileCraft For $166 Million

Atlassian has announced an acquisition of AgileCraft - a Georgetown, Texas based provider of "enterprise agile planning software" - for $166 million: $154 million in cash, and the rest in restricted shares subject to vesting conditions. The acquisition is expected to close next month.

San Francisco based Atlassian's purchase of AgileCraft is expected to add approximately $1-2 million to the company's fiscal 2019 revenue. The 2013 founded company raised $10 million in funding from investors including private equity firm Crane Nelson, and former Bank of America senior executives Jim Kelly and Tim Arnoult.


This acquisition adds to Atlassian's notable buys, including a $295 million purchase of OpsGenie September last year and a $425 million purchase of Trello in 2017. “As Atlassian tools spread through organizations, technology leaders need better visibility into work performed by their teams. With AgileCraft joining Atlassian, we believe we’re the best company to h…

Walmart Plans To Launch Budget Tablet

As confirmed to Bloomberg by a Walmart spokeswoman, the company is looking to launch a low-cost, kid-friendly tablet under its ONN store brand, potentially competing with the likes of Apple, Amazon, Samsung, Huawei and Lenovo which dominate the tablet market.

According to presentations "given by senior management at a recent meeting of the company’s suppliers" cited by Bloomberg, Walmart will make home goods and electronics a focus this year. Releasing a tablet might likely be a move to boost its electronics sales business.


Walmart wouldn't be the only retailer to enter the tablet market, The likes of Amazon and Britain's Tesco have also seen success with the release of popular tablets (Tesco discontinued its in 2015 after a management change).

Walmart's ONN store brand is mostly known for accessories like TV soundbars, headphones, charging cables, Bluetooth speakers and smartphone cases. It also counts a low-priced VR headset and camera among its inventory.