{"id":30644,"date":"2017-05-25T06:57:24","date_gmt":"2017-05-25T06:57:24","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=30644"},"modified":"2017-05-25T06:57:24","modified_gmt":"2017-05-25T06:57:24","slug":"brazilian-ride-hailing-app-99-raises-100-million-softbank","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/brazilian-ride-hailing-app-99-raises-100-million-softbank.html","title":{"rendered":"Brazilian ride-hailing app 99 raises $100 million from SoftBank"},"content":{"rendered":"<h2 style=\"text-align: justify;\">\n\t<span style=\"font-size:22px;\"><strong><span style=\"color:#000000;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Brazilian ride-hailing app 99 raises $100 million from SoftBank<\/span><\/span><\/strong><\/span><br \/>\n<\/h2>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Japan&#39;s SoftBank Group Corp (9984.T) agreed to invest $100 million in Brazilian ride-hailing app 99, the startup said on Wednesday, capping off a fund-raising round totaling more than $200 million.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Press representatives for 99 declined to specify how big a stake SoftBank&#39;s investment entailed. The transaction is subject to approval by Brazil&#39;s Cade antitrust regulator.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">In January, Didi Chuxing, China&#39;s largest ride-hailing company, spearheaded an initial investment of more than $100 million in the Brazilian firm.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">The capital injection underscores strong investor demand for the fast-growing ride-hailing market in Latin America&#39;s largest economy despite ongoing legal battles that could sharply increase operating costs.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">On Tuesday, a Brazilian state appeals court ruled that a driver working for rival Uber Technologies Inc [UBER.UL] was not entitled to workers&#39; benefits, overturning a lower court decision looming over the San Francisco-based company. The driver may yet appeal to Brazil&#39;s top court.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">99&#39;s discount service, known as 99 POP, competes directly with Uber, seeking to lure drivers by retaining a smaller share of what passengers pay for a ride. The app also allows clients to hail taxis and luxury vehicles.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">The Brazilian firm, launched in 2012, said it has more than 14 million registered users who have been served by more than 200,000 drivers.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:8px;\"><span style=\"color:#000000;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Source:-&nbsp;http:\/\/www.reuters.com\/article\/us-brazil-ridehailing-softbank-group-idUSKBN18K2XE<\/span><\/span><\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/technology\/brazilian-ride-hailing-app-99-raises-100-million-softbank.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Brazilian ride-hailing app 99 raises $100 million from SoftBank Japan&#39;s SoftBank Group Corp (9984.T) agreed to invest $100 million in Brazilian ride-hailing app 99, the startup said on Wednesday, capping off a fund-raising round totaling more than $200 million. Press representatives for 99 declined to specify how big a stake [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":30646,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[18995],"class_list":["post-30644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-brazilian-ride-hailing-app-99-raises-100-million-from-softbank"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/30644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=30644"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/30644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/30646"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=30644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=30644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=30644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}