|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||41.99 - 41.99|
|52-week range||41.99 - 41.99|
|Beta (5Y monthly)||1.21|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
(Bloomberg) -- Sequoia Capital agreed to invest in Auto1 Group SE at a valuation of about 6 billion euros ($7.2 billion) ahead of the German online car-trading platform’s initial public offering, people with knowledge of the matter said.The U.S. venture capital firm and rival fund Lone Pine Capital reached a preliminary deal to each buy about 50 million euros of Auto1stock from early investor DN Capital, according to the people, who asked not to be identified because the information is private. They have agreed to a lock-up period of six months, the people said.Sequoia and Lone Pine also signaled plans to invest at least 50 million euros apiece in Auto1’s imminent IPO, the people said.The move marks a vote of confidence in Auto1, which is backed by Japanese billionaire Masayoshi Son’s SoftBank Group Corp., and the business of buying and selling cars online. Auto1 said last week it aims to raise about 1 billion euros from a Frankfurt share sale in the first quarter.A spokesperson for Auto1 declined to comment. An official at DN Capital didn’t immediately respond to a request for comment, while representatives for Sequoia and Lone Pine couldn’t immediately be reached during a U.S. public holiday.DN Capital became one of Auto1’s first backers when it invested in the company in 2013, the year after the German startup was founded, according to its website. The venture capital firm previously invested in app developer Shazam Entertainment Ltd., which created a music-identification service later bought by Apple Inc. It also helped fund U.K. online realtor Purplebricks Group Plc and international money transfer service Remitly Inc.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Hike, the messaging app backed by SoftBank Group Corp. that aimed to compete against WhatsApp in the world’s second-most populous country, shut down and vanished from app stores Monday.The startup valued at $1.4 billion in a 2016 funding round announced its app was going off the air earlier this month without explanation. The app started by billionaire-family scion Kavin Bharti Mittal has failed over several years to displace Facebook Inc.’s rival app as India’s go-to venue for social media and mobile communications. The country remains WhatsApp’s largest market globally.Hike, backed also by Chinese WeChat-operator Tencent Holdings Ltd., has in recent years ventured into adjacent areas such as no-frills phones and expanded even into spheres such as mobile entertainment. On Jan. 6, Mittal -- son of Sunil Bharti Mittal, chairman of India’s No. 2 telecom carrier, Bharti Airtel Ltd. -- announced the closure of Hike StickerChat.Its demise coincides with a growing global backlash among technology experts, privacy advocates, billionaire entrepreneurs and government organizations against WhatsApp’s new policy of reserving the right to share user data with the broader Facebook network.Over the past year or more, Mittal has steadily diversified Hike into social and virtual-mobile products. His company will continue to develop its Vibe social media app and work on a new gaming product called Rush, he wrote on Twitter.“India won’t have its own messenger,” Mittal wrote. “Global network effects are too strong (unless India bans Western companies.)”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Southeast Asian ride-hailing giant Grab Holdings Inc. is considering listing in the U.S. this year to raise more than $2 billion, Reuters reported, citing people familiar with the matter.The deal hasn’t been finalized and could change depending on market conditions, Reuters added.Indonesian rival Gojek is in advanced discussions about merging with local e-commerce pioneer PT Tokopedia, ahead of a planned initial public offering of the combined entity, Bloomberg News has reported. The pair had considered a potential merger since 2018 but discussions accelerated after deal talks between Gojek and Grab reached an impasse, people familiar with the matter have said.Grab Chief Executive Officer Anthony Tan continues to resist pressure from SoftBank Group Corp.’s Masayoshi Son to give up some control in a combined entity with Gojek, said the people.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.