business

  • Chat app Line is launching a taxi-booking service to rival Uber in Thailand

    Chat app Line is launching a taxi-booking service to rival Uber in Thailand

    Uber just got itself another potential thorn in its side in Southeast Asia, where its closest rival Grab just raised $2 billion in fresh capital, after an unlikely source announced plans to enter Thailand’s ride-hailing space. Line, the Japanese company best known for its messaging app — and cutesy animal stickers — this week announced that it will offer a licensed taxi… Read More

  • China’s Didi invests in Taxify, an Uber rival operating in Europe and Africa

    China’s Didi invests in Taxify, an Uber rival operating in Europe and Africa

    Didi Chuxing, the ride-sharing company that forced Uber out of China, has expanded its increasingly global empire after it made an investment in Taxify, an Uber-like service that operates in Europe and Africa as it prepares to launch in London later this year. The amount invested has not been disclosed but TechCrunch understands from a source close to the deal that it is an eight-figure U.S. Read More

  • 500 Startups shuts down its Canada fund

    500 Startups shuts down its Canada fund

    Following sexual harassment allegations that led to the resignation of 500 Startups co-founder Dave McClure, it’s now emerged that the troubled VC firm has abandoned its Canada fund. According to reports in The Globe and Mail and BetaKit, the saga made it difficult to move forward with the next phase of 500 Canada, where it had a profit-sharing relationship. The firm was in the process… Read More

  • Flipkart’s on-off-on-off-on-off deal to acquire Snapdeal is now officially dead

    Flipkart’s on-off-on-off-on-off deal to acquire Snapdeal is now officially dead

    What a difference a week makes. Less than seven days after Flipkart’s much-rumored acquisition of Snapdeal appeared to be nearing completion following months of speculation, the deal has officially died. All that stood between a reported $900-$950 million acquisition was the approval of Snapdeal’s board, but now talks are over and Snapdeal will continue on as an independent company. Read More

  • Intel beats earnings expectations as it manages to maintain growth in its Data Center Group

    Intel beats earnings expectations as it manages to maintain growth in its Data Center Group

    Intel declared $14.8 billion in revenue this afternoon and earnings per share of 72 cents. This represents a solid beat as analysts had expected revenues of $14.41 billion and EPS of 68 cents. The company’s  stock finished up 22 cents and 0.63 percent to $34.97 per share in regular trading. In the moments after the company released its earnings, Intel’s stock shot up 3.43 percent. Read More

  • Baidu teams up with PayPal to take its Chinese mobile wallet global

    Baidu teams up with PayPal to take its Chinese mobile wallet global

    PayPal has continued its strategy of expanding its presence on mobile after it revealed a tie-up with Baidu. The arrangement will allow the Chinese firm’s 100 million mobile wallet users to make payments to PayPal’s 17 million merchants through the Baidu service. The news is the latest in a series of recent partnerships from PayPal, which this month expanded its integration… Read More

  • Flipkart is all set to buy rival Snapdeal in major Indian e-commerce consolidation

    Flipkart is all set to buy rival Snapdeal in major Indian e-commerce consolidation

    The long running saga over the future of Indian e-commerce firm Snapdeal may be close to a conclusion at last. The company has been repeatedly linked with an acquisition by rival Flipkart, and now a deal worth a touch under $1 billion has been agreed to in principle. That’s according to a report from Reuters which claims the Snapdeal board has signed off on a takeover from Flipkart that… Read More

  • WeWork launches dedicated China business backed by $500M from investors

    WeWork launches dedicated China business backed by $500M from investors

    WeWork is making a big move to win the co-working market in China after it announced the creation of a standalone WeWork China business, backed by $500 million from existing backers SoftBank, Hony Capital and other undisclosed investors. This fresh influx of capital is not tied to a recent $760 million financing round that closed earlier this month, at a reported valuation of $20 billion. Read More