Tag Archives: Million

Ride hailing firm Grab secures up to $700 million in debt facilities

SINGAPORE (Reuters) – Grab, the main Southeast Asian rival of Uber Technologies Inc [UBER.UL], said on Friday it had secured debt facilities of up to $ 700 million to help it create the largest car rental program in southeast Asia.

FILE PHOTO: People wait for the start of Grab’s fifth anniversary news conference in Singapore June 6, 2017. REUTERS/Edgar Su/File Photo

The company also said it had signed a partnership with Singaporean public transport operator SMRT, which will give it exclusive access to SMRT’s taxi and private car fleet management capabilities, along with its network of taxis and Strides private-hire cars.

It also said it would have the largest car rental fleet in Southeast Asia by the fourth quarter of 2018.

Reporting by Aradhana Aravindan; Editing by Edwina Gibbs

Our Standards:The Thomson Reuters Trust Principles.

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In France, Snap's Discover news feature gets 10 million monthly users

(Reuters) – Snap Inc, searching for ways to reinvigorate a slowing growth rate and increase advertising revenue for its Snapchat messaging app, said this week it has racked up 10 million users for its Discover news and video feature in France a year after launching there.

The figure, which has not previously been reported, is equivalent to about 15 percent of the country’s population.

Internationally, the Snapchat app has 173 million daily active users, the company said in August, while rival Instagram, owned by Facebook Inc, said this week it has 500 million daily users.

Snap’s partners in France such as Le Monde and Cosmopolitan, which supply video and news for the Discover feature, were getting “significant” revenue from ads, Nick Bell, Snap’s vice president of content, told Reuters, without giving an exact figure.

Snap, which generates revenue from advertisers, shares that revenue 50-50 with its publisher partners.

The company has yet to turn a profit since its messaging app launched in 2012. Since its initial public offering in March, its shares are down almost 18 percent, to around $ 14 per share.

France was the first international launch of Discover. It has also been released in Germany, the Middle East and North Africa, but the company is taking a slow, deliberate approach to expansion as it works at developing strong partnerships with publishers, said Bell.

Reporting By Jessica Toonkel; editing by Anna Driver and Rosalba O’Brien

Our Standards:The Thomson Reuters Trust Principles.

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Oracle Receives Favorable Ruling, Awarded $100 Million

… also filed a lawsuit that alleged Oracle of “improper accounting practices to inflate the company’s cloud-computing revenues by millions of dollars”.


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Infor's $675 million acquisition of GT Nexus is official

ERP Software has served for decades to manage processes within a company’s four walls, but cloud computing has paved the way for connected …


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Onshape Raises $80 Million More To Go Big In Cloud CAD Software

Onshape, a three-year-old company in Boston, claims to be the first 100% cloud-based 3D design software and today announced a fresh $ 80 million in venture capital, roughly half of which is from new investor Andreessen Horowitz.


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CloudFlare Pulls In $110 Million, Plots Next Move

CloudFlare is a San Francisco startup that is making a name for itself in serving content to mobile devices and warding off Internet attacks. Now it has $ 110 million in funding from Microsoft, Google, and others.


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Onshape’s Cloud-Based CAD Tool Gets $80 Million in Funding

Onshape’s Cloud-Based CAD Tool Gets $ 80 Million in Funding

The cloud-native company wants to redesign the CAD market.

The post Onshape’s Cloud-Based CAD Tool Gets $ 80 Million in Funding appeared first on WIRED.




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Google Says Google Drive Now Has 1 Million Customers, Improves Security To Get More

Prior to the ISO certification, Google Drive has been certified as compliant with the SOC 2 and SOC 3 security standards for cloud computing.


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Allbound Raises $1.5 Million in Seed Funding

Home > Cloud Computing Funding and Finance > Allbound Raises $ 1.5 Million … 5 Cloud Computing Funding Stories You Might Have Missed, Sept.


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