Tag: Yahoo Finance

Ant Financial to Raise a $1 Billion Startup Investment Fund

(Bloomberg) -- Billionaire Jack Ma’s Ant Financial is planning to raise about $1 billion for a fund that will invest in startups from Southeast Asia to India and help strengthen its foothold in fast-growing mobile internet markets, a person familiar with the matter said.The internet finance company is looking to back more startups in those regions that focus on payments and online finance, the person said, confirming a DealStreet Asia report. Ant Financial Vice President Ji Gang told attendees at a Beijing conference Tuesday that his company was looking to raise a fund, but didn’t specify the amount nor potential targets, according to a blogpost by the conference organizers. Ant Financial declined to comment in an emailed statement.China’s largest internet finance operator is bankrolling expansions outside of China to arrest slowing growth at home, where it is also battling Tencent Holdings Ltd. for supremacy in mobile payments and finance. The strategy...

Uber's carpool pricing strategy revealed by Chicago fare data

The price increases for shared rides predominantly affect Chicago's low-income neighborhoods, which is where most of the carpool rides are booked, the analysis showed. The Chicago data does not differentiate between rides operated by Uber Technologies Inc, Lyft Inc, or smaller ride-share rival Via. Data by Second Measure, which tracks credit card expenditures, estimates that Uber commands a roughly 72% market share in Chicago....