Spark Capital was one of the big winners when Uber announced its acquisition of restaurant service Postmates for $2.6 billion on Monday. The venture capital firm has invested in other major hitters in the startup world, including Slack, Plaid, and Mirror, the fitness tech startup that was sold to Lululemon for $500 million. It’s unclear… Continue reading The big winner of Uber’s $2.65 billion Postmates acquisition is Spark Capital, a small VC firm that’s enjoying a streak of hits in a gloomy 2020.
Tag: M and A
Uber Buys Postmates for $2.65 Billion
SAN FRANCISCO — Uber has agreed to acquire the food delivery start-up Postmates for $2.65 billion as it aims to expand its presence in on-demand food delivery while its core ride-hailing business struggles. The companies announced the all-stock deal on Monday morning. Uber will combine Postmates with its own food delivery subsidiary, Uber Eats, which… Continue reading Uber Buys Postmates for $2.65 Billion
Ampere Vehicles acquires 74% stake in Noida-based e-rickshaw maker Bestway
Ampere Vehicles, the electric mobility arm of Greaves Cotton, has acquired 74 percent stake in Noida-based electric three-wheeler company Bestway Agencies (BAPL) which sells e-rickshaws under the ELE brand. Through this acquisition, Ampere will expand its presence in the e-rickshaw segment to become an integrated last mile e-mobility player with a strong presence in both… Continue reading Ampere Vehicles acquires 74% stake in Noida-based e-rickshaw maker Bestway
@Hyundai: Hyundai Mobis Invests in Silicon Valley Tech Funds
– Investing $20 million in 2 Silicon Valley tech funds…fostering future mobility startups in the mid-to-long term – Concentrating on R&D amid rapidly changing business environment…expanding research areas to include next-generation sensors, biometrics and robotics SEOUL, South Korea, July 2, 2020 /PRNewswire/ — Hyundai Mobis(KRX:012330), which has been devoted to securing future car technologies by developing… Continue reading @Hyundai: Hyundai Mobis Invests in Silicon Valley Tech Funds
VOXX International Corporation Acquires Majority Of Directed’s Automotive Aftermarket Business
ORLANDO, Fla., July 6, 2020 /PRNewswire/ — VOXX International Corporation (NASDAQ: VOXX), a leading manufacturer and distributor of automotive and consumer technologies for the global markets, is pleased to announce it has successfully acquired the aftermarket vehicle remote start and security systems (“RSS”) and connected car solutions (“CC”) businesses of Directed, LLC and Directed Electronics Canada… Continue reading VOXX International Corporation Acquires Majority Of Directed’s Automotive Aftermarket Business
Uber: Uber to Acquire Postmates
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) and Postmates Inc. today announced that they have reached a definitive agreement under which Uber will acquire Postmates for approximately $2.65 billion in an all-stock transaction. This transaction brings together Uber’s global Rides and Eats platform with Postmates’ distinctive delivery business in the U.S. Postmates is highly complementary… Continue reading Uber: Uber to Acquire Postmates
@Geely: Geely Automobile Holding Sales Volume For June 2020 Was 110,129 Units
2020 July 06, Hong Kong. Geely Automobile Holding Limited (Group) announced that the the total sales volume of the Group (including the sales volume of LYNK & CO-branded vehicles sold by the Group’s 50%-owned joint venture) for the month of June 2020 was 110,129 units, an increase of approximately 21% from the same period last… Continue reading @Geely: Geely Automobile Holding Sales Volume For June 2020 Was 110,129 Units
@Hyundai: World’s First Fuel Cell Heavy-Duty Truck, Hyundai XCIENT Fuel Cell, Heads to Europe for Commercial Use
• Hyundai Motor is shipping the first 10 units of XCIENT Fuel Cell, the world’s first fuel cell heavy-duty truck, to Switzerland• Hyundai will roll out 50 trucks this year and total of 1,600 units by 2025 • Powered by 190-kW hydrogen fuel cell system, XCIENT Fuel Cell can travel approximately 400 km on a… Continue reading @Hyundai: World’s First Fuel Cell Heavy-Duty Truck, Hyundai XCIENT Fuel Cell, Heads to Europe for Commercial Use
Uber said to buy food delivery app Postmates in $2.65b all-stock deal
Ride-sharing company Uber Technologies Inc has agreed on a deal to buy food-delivery app Postmates Inc in a $2.65 billion all-stock agreement, Bloomberg News reported, citing people familiar with the matter. The deal has been approved by Uber‘s board and could be announced as soon as Monday, Bloomberg reported, adding that Pierre-Dimitri Gore-Coty, head of Uber‘s food delivery business, Uber Eats,… Continue reading Uber said to buy food delivery app Postmates in $2.65b all-stock deal
Jaguar Land Rover remains bullish on diesel powertrains
Jaguar Land Rover will continue to invest in diesel technology as it ramps up plans to electrify its model line-up and develop a hydrogen fuel cell vehicle. Product engineering boss Nick Rogers said, in light of the coronavirus pandemic: “We really believe that customers will be focused on being cleaner, safer and smarter than ever… Continue reading Jaguar Land Rover remains bullish on diesel powertrains