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Swiggy Raises Additional $210mn Funding et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jun 21, 2018 1:11 PM 1 min read
Editorial

End of Day Wrap-up (Thursday / June 21, 2018) #Swiggy #Naspers #Flipkart #Amazon #AmazonPrime #Disney #healthcare #JPMorgan #OPEC #US #India #China #Transfin

Editor's Comment: Swiggy raises additional $210mn funding led by Naspers, DST Global, Coatue Management and existing investor Meituan Dianping. Swiggy has raised $465mn in seven rounds of funding till date.

 

India raises import duties on agriculture, steel products to protest US tariff hike. The hike will cost $240mn to US, equal to the implications of the tariffs set by US off late.

 

Flipkart to take on Amazon Prime with its own loyalty programme by the of July or early August, to acquire more customers. Flikart has set aside $173mn (INR1,178cr) to spend over the next three years for this service.

 

Disney raises its bid for 21st Century Fox to $71.3bn from $52.4bn, an almost 35% increase to counter Comcast’s respective bid. Disney’s bid is $6bn more than Comcast’s bid.

 

New healthcare firm set up by Amazon, Berkshire Hathaway and JP Morgan appoint Indian origin surgeon and journalist, Atul Gawande as CEO starting July 9. This firm has been set up to improve healthcare and lower healthcare costs.

 

OPEC to meet tomorrow to push for increasing oil output as it faces pricing pressure from US, China and India. Iran expected to soften its initial opposition to keep output unchanged.