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Tencent Funds Gaana.com et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Mar 1, 2018 1:00 PM 1 min read
Editorial

End of Day Wrap-up (Thursday / March 01, 2018) #UrbanLadder #Tencent #Fortis #Healthcare #KYC #Amazon #AmazonPrime #AmazonPrimeMusic #Xiaomi #China #Transfin

Editor's comment: Home furnishing start-up Urban Ladder raises $12m from existing investors Kalaari Capital, SAIF Partners, & Steadview Capital. Funds to be used for omni-channel expansion. $103m raised to-date.

 

Tencent leads Gaana.com's $115m fund raise. Next in line is focus on AI to personalise music experiences for consumers. Tencent is also an investor in Sweden's Spotify, global music streaming giant.

 

Fortis Healthcare reports consolidated loss of INR191m for Q3, following Q2 losses of INR236m, amidst regulatory lapses involving illegal transfer of funds to promoter-linked firms.

 

Amazon India launches Amazon Prime Music, an ad-free music streaming service for its Prime members, competing with Gaana.com, Hungama, Saavn etc.

 

Payments companies shaken by end of KYC deadline for users, fearing user loss of upto 40%. Industry expect customers to switch back to cash rather than comply with KYC norms.

 

Chinese smartphone giant Xiaomi plans to raise $10bn (at $80bn-$100bn valuation) via a potential dual listing in HK and Mainland China. HK listing planned for 2H2018. IPO would be one of the largest this year.