Industry News
Japan’s Softbank Injects US$100m in 99
24 May 2017
Japan’s Softbank and Riverwood Capital bought a minority stake in 99 (formerly 99 Taxis), a Brazilian rideshare company, for US$100m. Investors in 99 include Didi Chuxing, Riverwood Capital, monashees+, Qualcomm Ventures, Tiger Global and others.
(New York Times) RIO DE JANEIRO — A Latin American competitor to Uber — 99 — has raised US$100m from SoftBank of Japan to fuel growth, the Brazilian start¬up’s chief executive says.
SoftBank will become a minority shareholder in the privately held 99, as the ride¬hailing service Didi Chuxing of China did when it backed the start¬up in January. SoftBank is also a major investor in Didi Chuxing.
Read more at New York Times.
You may be interested in...
-
Timing on Startup Fundraising; Is AI a Thing in LatAm?
-
Vinci Partners Deal Case; Mexico Infrastructure Partners and Mexican Government Acquires 55% Stake in Mexico’s Generation Plants for USD6.2b from Iberdrola
-
TozziniFreire Appoints Three New Partners
Brazil-based full-service firm TozziniFreire Advogados appointed new...
-
Southern Cross Exits Chile’s Esmax via Sale to Aramco
Aramco acquired a 100% stake in Esmax, a Chile-based diversified downstream fuels and...