Wejo to go public, deal values auto data startup at $800 million

-
The deal will raise $330 million in proceeds for Wejo, the companies said. That includes $230 million from Special-Purpose Acquisition Company (SPAC) Virtuoso and another $100 million referred to as Private Investment in Public Equity (PIPE).

from Gadgets Now https://ift.tt/3vKHwHH

Comments

Post a Comment

Popular posts from this blog

GAIA Design has raised more capital to become the West Elm of Mexico

-
Designing higher end furniture for Mexico’s rising middle and upper-middle class consumers has netted the Mexico City-based GAIA $15 million in a new round of funding. The bridge round will take the company through to a much larger capital raise planned for 2021 as the company capitalizes on the growth of e-commerce in Mexico. A 2019 report from JP Morgan put the e-commerce market in Mexico at around $22.6 billion, and that’s with online sales only accounting for just 1.7% of the overall retail market. JP Morgan expects the market to increase at a 12.6% growth rate annually. As with everything else, the COVID-19 pandemic has accelerated the adoption of digital services as the country’s population looks to practice safe social distancing and reduce the spread of the virus. For those consumers who can afford to shop online — even for high value products like furniture — they are, according to GAIA chief executive Philippe Cahuzac. At GAIA the new funding will be used to add new f...
Read more

Hong Kong is charting its own web3 path despite China’s anti-crypto stance

-
Hong Kong has an on-again-off-again relationship with crypto: Before China outlawed all crypto-related activities in 2021, the Asian financial hub was the early home to several crypto startups, including the now-defunct FTX, which left for the Bahamas after the ban. Now, Hong Kong is again welcoming crypto businesses, only this time with more regulatory clarity. During its government-backed fintech week late last year, Hong Kong indicated its intention to legalize crypto retail trading and introduce a licensing regime for digital asset providers. The plan took more shape in February when the city published draft rules that would allow individual investors to trade certain major cryptocurrencies starting June 1. Companies are already responding to the city’s shift in attitude. As of February, the department for foreign direct investment had received “expressions of interest” from over 80 virtual asset-related companies from both mainland China and abroad in establishing a presenc...
Read more

Netflix is "reworking" its partnership with Microsoft

-
Netflix is restructuring advertising partnership with Microsoft as it cuts ad prices for the $7-per-month ad-supported subscription plan. Netflix launched the plan in 2022 in 12 markets to attract more customers. Microsoft was selected as Netflix's global sales and technology partner for the ad-supported offering. However, Netflix is reportedly reworking the agreement due to the slowing growth of the ad tier. Netflix has also held early discussions to sell ads through other partners and has offered them better deals. The two initiatives may attract new advertisers to Netflix. from Gadgets Now https://ift.tt/QoEpar3
Read more