On-demand parking startup SpotHero raises $50 million

SpotHero, the Chicago-based company that has developed an on-demand parking app, has raised $50 million in a Series D round led Macquarie Capital. Union Grove Venture Partners participated in the round, along with existing investors including Insight Venture Partners, Global Founders Capital, OCA Ventures, AutoTech Ventures and others, according to the company. SpotHero has raised […]

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SoftBank reportedly plans to lend employees as much as $20 billion to invest in its VC fund

SoftBank has a plant to loan up to $20 billion to its employees, including CEO Masayoshi Son, for the purposes of having that capital re-invested in SoftBank’s own Vision venture fund, according to a new report from the Wall Street Journal. That’s a highly unusual move that could be risky in terms of how much […]

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Nigerian logistics startup Kobo360 raises $30M backed by Goldman Sachs

Nigerian freight logistics startup Kobo360 has raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber -like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand […]

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SoftBank-backed Fair taps three executives to lead vehicle subscription app expansion

Fair, the vehicle subscription startup backed by SoftBank, is loading its executive team with veterans in the tech, venture and automotive industries as it seeks to build out its Uber leasing program and expand beyond North America. Fair.com today announced three key hires to lead the development of its car subscription app, financing department and […]

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Startups BRCK and Swvl partner on free WiFi for Kenyan ride-hail buses

Nairobi based internet hardware and service startup BRCK and Egyptian ride-hail venture Swvl are partnering to bring WiFI and online entertainment to on-demand bus service in Kenya. BRCK will install its routers on Swvl vehicles in Kenya and run its Moja service, which offers free public WiFi—internet, music, and entertainment—subsidized by commercial partners. Founded in […]

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Uber layoffs 400 as cost-cutting efforts ramp up

Uber is laying off about 25% of its 1,200-person strong marketing department in an effort to slash costs and make operations more efficient following its public debut and first quarter losses of $1 billion. The layoffs were first reported by the New York Times. About 400 people in Uber’s marketing department were laid off across […]

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SoftBank pumps $2B into Indonesia through new Grab investment, putting it head to head with Gojek

Grab — the on-demand transportation app that is the Uber of Southeast Asia — today announced yet another investment on top of the $7 billion that it has raised to date. SoftBank is putting another $2 billion into the business, earmarked for a specific use: Grab is going to invest $2 billion into its operations in […]

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Startups Weekly: SoftBank’s second act

In this week’s newsletter: Everything you need to know about the Vision Fund II.

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How parking app SpotHero is preparing for an era of driverless cars

On-demand parking app SpotHero wants to be ready for the day when autonomous vehicles are ubiquitous. Its strategy: target the human-driven car-sharing fleets today. The Chicago-based company, which has operations in San Francisco, New York, Washington, D.C. and Seattle, has launched a new service dubbed SpotHero for Fleets that targets shared mobility and on-demand services. […]

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