Sources: SoftBank to take over WeWork – CNBC
In the latest development of the WeWork IPO saga, SoftBank is said to be in “very advanced talks” to take over coworking space giant WeWork, CNBC reported.
Citing people familiar with the matter, the report wrote that the deal will value WeWork between US$7.5 billion and US$8 billion on a pre-funding basis and could be announced as soon as Tuesday (local time).
It also revealed that SoftBank executive Marcelo Claure will be involved in the company’s management while former CEO Adam Neumann’s stake will fall to low double digits.
Uber remains committed to India despite no concrete plan – TechCrunch
Ride-hailing giant Uber announced that it has partnered with Delhi Metro Rail Corporation (DMRC) to deploy parking spots and introduce new products at 210 subway stations in Delhi, Gurgaon, and Noida, TechCrunch reported.
The company is also rolling out a software update to its app to include real-time public transportation options.
Neither of the parties offered clarification on how many years it would take for these deployments to materialise.
A DMRC executive also stated that Uber was not an exclusive partner for the subway system.
China has the world’s largest number of unicorn startups – South China Morning Post
China is now home to the world’s largest number of unicorn startups, according to a report by South China Morning Post.
The inaugural Hurun Global Unicorn List 2019 stated that of the 494 tech unicorns founded in the 2000s that have not yet gone public as of June 30, China had 206 such firms to move ahead of the US with 203.
The world’s unicorns are based in only 24 countries around the world, spread around 118 cities and have a total value of US$1.7 trillion.
India ranked third with 21 unicorns, followed by the UK with 13 and Germany with seven.
PropertyGuru said to lean towards lower end of IPO range – Dealstreet Asia
Southeast Asian proptech company PropertyGuru is offering shares at the lower end of the A$3.70 (US$2.53) to A$4.50 (US$3.08) indicated range as it takes orders for its Australian initial public offering (IPO), according to a report by Dealstreet Asia that cited two anonymous sources.
A book message by UBS and Credit Suisse also says institutional demand is oversubscribed.
Ahead of the deal, PropertyGuru had indicated the stock would be priced to institutional shareholders to raise up to A$380.2 million (US$260 million).
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