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Grab weighs takeover of rival GoTo at $7 billion valuation

Economic Times

Economic Times · 5m ago

Grab weighs takeover of rival GoTo at $7 billion valuation

Grab Holdings Ltd. is considering acquiring rival GoTo Group, valuing it at over $7 billion in an all-stock deal, aiming to reduce costs and competitive pressures in Southeast Asia's internet market. This potential merger could result in significant cost savings and increased profitability by integrating operations and streamlining financial services. However, past merger discussions faced challenges due to antitrust concerns and disagreements. The companies' growth has slowed amidst economic challenges, influencing current merger talks.

Related News

Singapore's Grab not in talks with GoTo over a buyout

Economic Times

Economic Times · 1m ago

Singapore's Grab not in talks with GoTo over a buyout

Singapore-based Grab has denied being in talks for a potential acquisition of Indonesian rival GoTo. Previously, reports suggested that Grab was eyeing a second-quarter deal, possibly valuing GoTo at $7 billion. However, Grab clarified in a stock exchange filing that no discussions are currently underway and no agreements have been made. Despite past merger speculations, Grab remains focused on strategic capital allocation and organic growth, particularly in key markets like Indonesia.

Grab, GoTo revive talks for ride-hailing merger: report

Economic Times

Economic Times · 1y ago

Grab, GoTo revive talks for ride-hailing merger: report

Ride-hailing giants Grab Holdings and GoTo have resumed discussions for a potential merger, according to Bloomberg. The Southeast Asia-based companies are exploring various scenarios, including Grab acquiring GoTo using cash, stock, or a combination of both. The talks are said to be in their early stages.

Ride-hailing firm GoTo denies merger discussions with Grab

Reuters · 1y ago

Ride-hailing firm GoTo denies merger discussions with Grab

Ride-hailing firm GoTo has denied recent reports of merger discussions with Grab. The company stated that it is currently not engaged in any such discussions. GoTo, which has been facing losses, reported positive core earnings in Q4 of 2023. GoTo had recently sold 75.01% of its e-commerce unit Tokopedia to TikTok for $840 million.

Musk gives 25% of xAI stake to those who funded Twitter buyout: FT

Inshorts · 7m ago

Musk gives 25% of xAI stake to those who funded Twitter buyout: FT

Elon Musk has given 25% of shares in his AI startup xAI to investors who helped fund his $44-billion Twitter (now X) takeover, Financial Times reported. This comes as xAI is reportedly set to raise $5 billion at an increased valuation of $50 billion. Fidelity, Sequoia and Jack Dorsey are among the investors set to benefit from the funding round.

Grapevine: Oyo, Samara-backed Marengo eye funding; Table Space weighs IPO

VCCircle

VCCircle · 9m ago

Grapevine: Oyo, Samara-backed Marengo eye funding; Table Space weighs IPO

Oyo's parent company, Oravel Stays, is in talks to secure $200 million in funding at a valuation of $4.5-5 billion. Marengo, a startup backed by Samara Capital, is also seeking funding, while Table Space is considering an IPO.

Perplexity AI's value triples to $9 bn in latest funding round

Inshorts · 6m ago

Perplexity AI's value triples to $9 bn in latest funding round

Perplexity AI, an artificial intelligence startup co-founded by Indian-origin Aravind Srinivas, has closed a $500-million round of funding that triples its valuation to $9 billion, Bloomberg reported. In April, Perplexity was valued at $1 billion, a figure that jumped to $3 billion in June after investment from SoftBank Group's Vision Fund 2. Perplexity, founded in 2022, is rival of ChatGPT.

Trump's Truth Social overtakes Musk's X in value as shares surge

Inshorts · 8m ago

Trump's Truth Social overtakes Musk's X in value as shares surge

Donald Trump's Truth Social has overtaken Elon Musk's X in value after its shares surged. Trump Media & Technology Group (TMTG) is now valued at over $10 billion, which is higher than X Holdings' estimated $9.4 billion valuation. While X and Truth Social are rival microblogging platforms, Musk has openly endorsed Trump in the upcoming US elections.

Ontario Teachers' fund weighs $100 million investment in ecommerce logistics startup Xpressbees

Economic Times

Economic Times · 1y ago

Ontario Teachers' fund weighs $100 million investment in ecommerce logistics startup Xpressbees

Ontario Teachers' Pension Plan, a Canadian fund, considers a potential $100 million investment in Indian e-commerce logistics startup Xpressbees. This investment would aid Xpressbees in expanding its operations and further developing its logistics and supply chain solutions. The potential funding highlights the growing interest of international investors in India's dynamic e-commerce and logistics sector. The Canadian pension investor may buy a stake in the firm at about a $1.4 billion valuation.

Fintech firm Pine Labs weighs $1 billion IPO in India

Economic Times

Economic Times · 1y ago

Fintech firm Pine Labs weighs $1 billion IPO in India

Pine Labs, a digital payments provider based in Asia, is considering raising around $1 billion in an initial public offering (IPO) in India. The company, backed by Peak XV Partners and Mastercard, may seek a valuation of over $6 billion in the IPO. Pine Labs currently serves over 500,000 merchants in various regions and offers payment and financial solutions. If successful, this would be the largest IPO by an Indian fintech firm after Paytm's $2.5 billion offering earlier this year.

Swiggy, Zomato shares extend fall as quick commerce burn weighs

Economic Times

Economic Times · 5m ago

Swiggy, Zomato shares extend fall as quick commerce burn weighs

Shares of Swiggy and Zomato have fallen due to challenges in the quick commerce sector. Swiggy's market capitalization dropped below $10 billion, while Zomato's valuation slipped under $23 billion. Increased competition and investments in dark stores are impacting profitability. Analysts note robust execution but warn of potential medium-term profitability risks due to competition. Swiggy's Q3 earnings were lower than expected, with concerns over widening losses and lagging quick commerce performance compared to Zomato.

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