Counterattack: Four Uber Rivals Team Up Against TNC Giant

Uber is raising $2.1 billion in new private equity funding at a whopping $62 billion valuation. For context, that’s higher than the market cap of General Motors, and it was done at fairly standard terms (1x liquidation preference, no “ratchets”).

Second, four Uber rivals from around the globe have signed a “strategic partnership” through which they’ll work together on both technology and services. The new partners are Lyft (U.S.), Didi Kuaidi (China), GrabTaxi (SouthEast Asia) and Ola (India).

Fortune Magazine article here

Related article: Angry French Cab Drivers Create Alternative App

Keywords

capital   client markets   finance   Global operators   Lyft   TNCs   Uber   

 

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