Tag Archives: Acquires
BEIJING (Reuters) – Meituan Dianping, China’s largest provider of on-demand online services, is buying bike-sharing firm Mobike for $ 2.7 billion excluding debt, in a deal that will intensify the rivalry of their common backer Tencent Holdings with Alibaba Group.
Meituan announced the deal on Wednesday but did not disclose the value of the deal. Two sources told Reuters the equity value of the deal was $ 2.7 billion.
The deal consolidates the resources of the two firms, which are backed by Chinese gaming and social media giant Tencent, as Mobike faces off against Alibaba-backed Ofo, which also counts ride-hailing firm Didi Chuxing as a major investor.
The two bicycle-sharing companies have waged a costly war of subsidies in a bid to win the Chinese market as well as overseas markets.
Earlier this week, Alibaba said it would assume full control of Chinese food delivery platform Ele.me, a rival to Meituan.
Mobike, which counts over 30 million rides a day, will maintain its brand following the deal and keep its current management team, Meituan said.
Reporting by Cate Cadell in BEIJING, Julie Zhu and Kane Wu in HONG KONG; Editing by Muralikumar Anantharaman
DUBAI (Reuters) – Careem, a Middle East competitor to Uber Technologies [UBER.UL], said on Sunday it had acquired RoundMenu and would start trialing food delivery services through the restaurant listing and reservation online platform this month.
The Dubai-based ride hailing firm acquired the website and app for an undisclosed sum.
“Careem will begin testing a delivery capability for RoundMenu customers on a small scale later this month,” it said in a statement to Reuters.
RoundMenu has a presence in 18 cities across nine Arab countries, including Saudi Arabia, the United Arab Emirates, and Egypt, according to its website.
There is demand for delivery services in the Middle East, particularly in the Gulf Arab states where temperatures can soar above 50 degrees in the summer.
Several food delivery companies, including Talabat, Zomato, UberEats, and Deliveroo, are active in the region.
RoundMenu has raised $ 3.1 million in funding since it launched in 2012, the Careem statement said.
Careem said in June it would accelerate expansion plans after raising $ 500 million from investors, including German carmaker Daimler and Saudi Arabia’s Kingdom Holding.
In July, it took a minority stake in an Egyptian start-up that connects commuters with private buses in Cairo.
Reporting by Alexander CornwellEditing by Shri Navaratnam
Established in 2009, Azzaron provides cloud computing solutions including Desktop as a Service (DaaS), Infrastructure as a Service (IaaS) and a …
Permobil completes purchase of a custom molded seating company, Prairie Seating.
(PRWeb January 16, 2017)
Read the full story at http://www.prweb.com/releases/2017/01/prweb13965060.htm
Big companies are starting to see a lot of potential to make money in esports.
A day after DraftKings announced it’s expanding into esports next month with daily-fantasy games for League of Legends, competitor FanDuel is doing the same through an acquisition. The company has purchased the daily-fantasy startup AlphaDraft, which debuted earlier this year to provide a FanDuel-like experience for multiplayer online arena battlers and shooters. We’ve heard rumors of this acquisition for a few weeks — although AlphaDraft was also hearing offers from Yahoo Fantasy and even DraftKings.
Fantasy sports is a multibillion-dollar business, and daily fantasy is pushing that revenue to record highs. At the same time, the popularity of pro gaming is on the rise — and so are its earnings. FanDuel and DraftKings obviously both see this as an opportunity to get in on the ground level of what could turn into a mammoth industry over the next decade.
Former NBA Commish David Stern tells me that FanDuel has acquired @AlphaDraft, which he is invested in
— Darren Heitner (@DarrenHeitner) September 24, 2015
As we pointed out in our story yesterday about DraftKings’ esports ambitions, this acquisition by FanDuel is likely a move to ensure its revenues have a market that it can grow into.
Traditional sports are massively popular right now — professional football in particular has probably never had the level of engagement that it has today. But concerns around the safety of contact sports, along with a generation of parents who are trying to grind their children into superstar with the 10,000-hour rule, has youth participation in sports like football, soccer, and basketball noticeably falling off.
If research keeps revealing that football and other physical activities will lead to brain disease, interest in these sports could erode with the participation levels over the next 10 to 20 years. And that’s where the rise of esports could make up the difference.
Tens of millions of people have tuned in to watch events like the finals for Counter-Strike, Dota 2, and League of Legends. Every competitive-gaming genre is seeing year-over-year growth in terms of viewership. Marketers and sponsors have already taken notice, and that has the esports business on a trajectory to reach more than $ 465 million in revenue by 2017. But fantasy esports could have the potential to push this market to $ 1 billion and well beyond.
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