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Cairo and Dubai-based ride-sharing company Swvl plans to go public in a merger with special purpose acquisition company Queen’s Gambit Growth Capital, Swvl said Tuesday. The trio started the company as a bus-hailing service in Egypt and other ride-sharing services in emerging markets with fragmented public transportation.
Tech companies, private and public, have faced a reckoning in the past few months with their valuations taking a beating. This downsizing from the Dubai-based startup adds to the long list of global cross-stage layoffs in what has been a rough month for tech employees. This March, the company went public via a SPAC merger with U.S.
All existing reservation holders will not experience price hikes, the company said, noting that updated pricing for Canada will be made public on June 1. “Similar to many companies in our industry, we continue to face global supply chain and logistics challenges, including Covid-related factory shutdowns in China.
On Wednesday, Chinese PC maker Lenovo announced a strategic partnership with Alat, a subsidiary under SaudiArabia’s Public Investment Fund (PIF) focused on transformative technology investments and sustainable manufacturing, with Alat proposing a $2 billion zero coupon convertible bonds investment in Lenovo.
The global management consulting industry is worth billions of dollars but to this day it’s been tough to disrupt with technology. And while there are plenty of portals offering low-quality freelance consulting services, these are generally unsupervised that would never work for corporates and the public sector.
Chinese electric vehicle maker Human Horizons is reportedly in discussions with the Public Investment Fund, SaudiArabias sovereign wealth fund, to secure at least $250 million at a valuation of $3 billion, according to Bloomberg sources. billion with the six-year-old automaker. billion with the six-year-old automaker.
TechCrunch reached out to the Egypt- and Dubai-based company for comment but didn’t get any response at the time of publication. . Like many healthtech startups in the region and globally, Vezeeta benefited from pandemic-induced funding, and before this news, there was no indication that the 10-year-old company needed to cut costs.
Servify, a startup that manages lifecycle of devices for several popular smartphone vendors including Apple and Samsung in many markets, has raised $65 million as it eyes becoming a public company in two years. Once it ensures 18-20% profitability, Servify plans to file for an initial public offering, he said.
PayPal Ventures, the global corporate venture arm of PayPal, is one of the participating investors (this marks its first investment in the Gulf Cooperation Council (GCC) but second in the MENA region after Egyptian fintech Paymob ). The investors co-led the fintech’s Series B extension round last June. .
The money comes at a time when there appears to be renewed interest in funding money-hungry electric vehicle startups, thanks in large part to Tesla’s skyrocketing stock price and the early success of hydrogen trucking company Nikola’s recent public listing. wants to take the same shortcut to being public that Nikola used. Fisker Inc.
Selling vehicles in Europe was an explicit goal of Byton, which was also founded in China but fancied itself as a “global automaker,” with offices in Germany and the US. But, founded by former BMW executives who split from Faraday Future in 2017, Canoo has now accomplished something its forebear long sought: going public. Image: XPeng.
Christine Tsai is the CEO and founding partner of 500 Global. This was another blockbuster year for global venture funding, with 2021 breaking records across the board. Last year, a total of $643 billion was invested globally, according to Crunchbase News , compared with $335 billion in 2020 – that’s 92% growth year over year.
When it raised in September, Jeeves — which describes itself as “an all-in-one corporate card and expense management platform for global startups” — was valued at $500 million. I don’t think this is a space where you’re going to have just one company globally that owns everything,” Thazhmon added. It’s just massive.”.
Guide released today by MobileActive, a global network of organizations and. extremely effective way for organizations to get messages out to the public, monitor elections, and encourage voter participation.??? election monitoring Macedonia and Kenya; among women voters in SaudiArabia, and. can be downloaded at here.
billion last year — up 153% year-over-year in terms of global VC deal value. It also operates in the corporate spend and expense management space, with more of a global footprint and infrastructure component. It’s also eyeing Southeast Asia and potentially SaudiArabia and Africa. billion in half a year’s time.
It was one of the largest of that stage, and things seemed to be going well with the company until it laid off multiple employees between June and July, citing global macroeconomic trends. Last month, Egyptian B2B e-commerce platform Capiter made headlines after founders Mahmoud Nouh and Ahmed Nouh were ousted by its board as CEO and COO.
Plus more details about Ford’s relationship with the buzzy EV startup EV startup Rivian has spent most of its life shrouded in secrecy, but now that it’s going public, that protective veil is lifting. In Lucid Motors’ case, it found salvation and the necessary funding by handing over ownership of the company to SaudiArabia.
Siri Chilazi is a senior researcher at the Women and Public Policy Program at Harvard Kennedy School. Iris Bohnet is a professor of business and government at Harvard Kennedy School and co-director of the Women and Public Policy Program. Whats the big idea? Fairness is not merely a choice; it is a way of moving through the world.
This is just my strong, intuitive sense that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization,” Musk said at a TED conference on the day he made his offer. “I Yaccarino will be leaving her role as chairman of Global Advertising & Partnerships at NBCU.
Coates argues he’s eligible for these benefits because the SaudiArabia investment triggered a “Change in Control” clause in his agreement with Lucid Motors because it resulted in “a change in the majority shareholder of the Company,” according to an email from his lawyer to the startup sent last year. The company declined to comment.
What it means is that the Air was designed by people who claim to have intimate knowledge of Tesla’s path to global EV domination. Unlike other so-called “Tesla killers,” though, Lucid Motors has wealthy backers and global reach to successfully challenge Musk. Heck, The Verge went for a ride in an engineering prototype back in 2017.
An additional $15 million was raised from the same investors led by Dubai-based VC firm Global Ventures. Paymob has a perfect combination of high-quality technology, product customers increasingly cannot do without, and an outstanding management team, “Basil Moftah, general partner at Global Ventures, said of the investment.
Micromobbin’ For some bizarre reason, it’s illegal to for people use privately owned e-scooters on public roads in England. If legalized, private scooters will have to meet similar safety specifications as those in the public trials, namely max speeds of 15.5 miles per hour and automatic lights. Autonomous vehicles.
For 20 years, the global communications firm Edelman has studied the influence of trust across government, media, business, and nongovernmental organizations (NGOs). Here are five takeaways about global trends in the public’s trust in NGOs: 1.
Meituan, Chinas local services platform, is accelerating its global expansion with a renewed focus on grocery retail, international markets, and artificial intelligence, CEO Wang Xing announced in a recent internal meeting. This has intensified public scrutiny on how the platform balances growth with social responsibility.
The first season exploded to the surprise of everyone, becoming a global pop culture sensation. Pink Guards popped up at Sydney Harbor and Bondi Beach, the canals of Venice , Bangkoks Chao Phraya river, SaudiArabias AlUla , and Beco do Batman in So Paulo. This time, there were years of anticipation. run the campaign, Lee says.
Here are Bryan Pietsch and Jeff Stein in the Washington Post : The app says it is “America’s ‘Big Tent’ social media platform that encourages an open, free, and honest global conversation without discriminating against political ideology.” First, the news: Truth Social is live in the App Store, and hit No.
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