SoftBank gears up investments in second quarter, dishing out $13bn July 12, 2021 SoftBank’s Vision Fund II has pushed the pedal on its investments in recent weeks, dishing out $13bn in its second quarter, according to reports. The Japanese venture capital fund has injected cash into at least 50 companies, the Financial Times first reported, citing people brief on the data. Many of the companies eyed by SoftBank’s [...]
Confused.com owner RVU to squeeze into online mortgage sector July 12, 2021 Confused.com owner RVU has snapped up online mortgage broker Mojo Mortgages, signalling its move into the home loan sector. The comparison site giant, which also owns Uswitch and Money.co.uk, declined to put a figure on the deal – however, paid £508m for Confused.com in December. “I can assure you the price is not nothing,” RVU [...]
SoftBank-backed Flipkart rallies $37bn valuation, just south of its target July 12, 2021 Indian e-commerce giant Flipkart, which is controlled by Walmart, has been valued at $37.6bn today, just shy of its target. The valuation comes ahead of an initial public offering (IPO), which it hopes will take place early next year. Flipkart rallied $3.6bn in the pre-IPO fundraiser, which spurred its valuation and was co-led by SoftBank Vision [...]
Young’s to sell most tenanted pubs for £53m, eyeing a freehold future July 12, 2021 Brewery Young’s has agreed to sell 56 of its 63 pubs in its Ram Pub Company estate for £53m, to add some ‘firepower’ to existing pub upgrades ahead of no restrictions. The brewery has made “attractive returns” investing and operating managed pubs and hotels, its boss said, which it will use the newly secured funds [...]
Space investor Seraphim’s London IPO skyrockets, raising lofty £180m July 12, 2021 Seraphim Space Investment Trust rallied £178.4m on Friday as people piled into the space tech investor’s initial public offering. The lofty IPO faired well on the London market which has recently been driven by tech companies, particularly as it floated in the shadow of tech firm £8bn Wise which went public just days before. “Space [...]
Asos enters deal with Nordstrom to bolster Topshop’s US presence July 12, 2021 Asos has teamed up with the US’ Nordstrom, which will see Topshop clothes sold in brick and mortar stores for the first time since the brand fell into admission last year. The joint-venture will see Nordstrom snag a minority stake in Topshop, Topman, Miss Selfridge and HIIT brands, which joined Asos’ pre-existing online platform following [...]
NHS app self-isolation tracker could change if Covid cases see a summer spiral July 8, 2021 Chancellor Rishi Sunak has hinted that the way the NHS app ‘pings’ people for self-isolation could change as Covid-19 cases are expected to rise over the summer. Businesses have become increasingly frustrated with high staff absences due to employees being told to self-isolate. “I’ve spoken to the Health Secretary about this and he’s aware of [...]
Space investor Seraphim injects cash into two firms ahead of London float July 8, 2021 Space technology investor Seraphim Capital has invested into two UK satellite and AI companies ahead of its London IPO float tomorrow, as the UK cements itself within the latest space race. Investing £2m into firms Isotropic Systems, which operates satellite networks and Commodities AI, which deals with space data and artificial intelligence (AI), Seraphim is [...]
Official global Covid-19 death toll exceeds four million July 8, 2021 The world’s known Covid-19 death toll has passed four million, according to the Centre for Systems Science and Engineering at Johns Hopkins University, the equivalent to around half of London’s population. Taking just nine months to cause one million deaths, the rate at which coronavirus has swept through communities has quickened. The second million lives [...]
Delivery boom: Ant Group-backed Zomato eyes IPO valuation of nearly $8bn July 8, 2021 Ant Group-backed food delivery company Zomato has a near $8bn valuation on the cards in its initial public offering (IPO), with shares priced at 0.96 cents to $1.02 per share. Zomato, one of India’s most biggest startups, has reaped the rewards of a pandemic-induced surge in online ordering. The lofty $7.98bn figure is at the [...]
