Tuesday, March 3, 2020

Uber sold Uber Eats in India to Zomato for $206M, instead of $350M as previously reported, in return for a 9.99% stake, lowering Zomato's ~$3B valuation (Aditi Shrivastava/The Economic Times)

Aditi Shrivastava / The Economic Times:
Uber sold Uber Eats in India to Zomato for $206M, instead of $350M as previously reported, in return for a 9.99% stake, lowering Zomato's ~$3B valuation  —  Ride-hailing major Uber Inc sold its India food delivery business to larger rival Zomato for $206 million in return for a 9.99% stake, regulatory filings by the US-based firm show.



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Chinese video game giant NetEase reports Q4 revenue up 3% YoY to ~$4B and net profit down 29% to ~$903M, below ~$1.2B est., as it pushes self-developed games (Sherry Qin/Wall Street Journal)

Sherry Qin / Wall Street Journal : Chinese video game giant NetEase reports Q4 revenue up 3% YoY to ~$4B and net profit down 29% to ~$903...