GoTo Group, a new $18 billion internet company created by the merger of two Indonesian startups Gojek and Tokopedia, is planning a new private funding round this summer ahead of its initial public offering, the South China Morning Post reported. The SCMP report didn’t have any details on how much money GoTo plans to raise in the new round or at what valuation. GoTo’s pre-IPO fundraising plans...
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The Briefing Uber/Lyft Entertainment
Lyft’s Pandemic Is Far From Over
After the rush of the advertising-based internet firms reporting blockbuster growth, we’re coming down to earth this week with the ride-sharing companies Lyft and Uber reporting their second-quarter results. The verdict, at least so far: meh. Lyft went first today, reporting 125% growth in revenue from last year’s pandemic-crushed second quarter. That’s not as impressive as it sounds. With...
China’s Kuaishou Closes its TikTok Rival Video App
SoftBank Builds $5 Billion Stake in Drug Giant Roche
Lyft Posts Sharp Rise in Q2 Revenue But Still Below 2019 Levels
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