mexico

Mexican venture firm ALL VP has a $73 million first close on its latest fund

Buoyed by international attention from U.S. and Chinese investors and technology companies, new financing keeps flowing into the coffers of Latin American venture capital firms. One day after the Brazilian-based pan-Latin American announced the close of its $150 million latest fund comes word from our sources that ALL VP, the Mexico City-based, early stage technology investor, has held a first close of $73 million for its latest investment vehicle. The firm launched its first $6 million investment vehicle in 2012, according to CrunchBase, just as Mexico’s former President Enrique Peña Nieto was coming to power with a pro-business platform. One which emphasized technology development as part of its strategy for encouraging economic growth. ALL VP founding partner Fernando Lelo de Larrea sai...

Africa Roundup: Paga goes global and 4 startups raise $99M in VC

Jake Bright Contributor More posts by this contributor Polestar unveils first production EV with aim to overtake Tesla Liquid Telecom goes long on Africa’s startups as future clients Nigerian digital payments startup Paga is gearing up for international expansion with a $10 million round led by the Global Innovation Fund. The company is exploring the release of its payments product in Ethiopia, Mexico, and the Philippines—CEO Tayo Oviosu told TechCrunch. Paga looks to go head to head with regional and global payment players, such as PayPal, Alipay, and Safaricom according to Oviosu. “We are not only in a position to compete with them, we’re going beyond them,” he said of Kenya’s MPesa mobile money product. “Our goal is to build a global payment ecosystem across many emerging markets.” Laun...

African experiments with drone technologies could leapfrog decades of infrastructure neglect

Jake Bright Contributor More posts by this contributor Harley-Davidson is opening a Silicon Valley R&D center to power EV production With a $10 million round, Nigeria’s Paga plans global expansion Samantha Stein Contributor More posts by this contributor Only 48 hours left to apply for Startup Battlefield Africa 2018 Announcing Startup Battlefield at Disrupt SF 2018 A drone revolution is coming to sub-Saharan Africa. Countries across the continent are experimenting with this 21st century technology as a way to leapfrog decades of neglect of 20th century infrastructure. Over the last two years, San Francisco-based startup Zipline launched a national UAV delivery program in East Africa; South Africa passed commercial drone legislation to train and license pilots; and Malawi even opened a...

AI training and social network content moderation services bring TaskUs a $250 million windfall

TaskUs, the business process outsourcing service that moderates content, annotates information and handles back office customer support for some of the world’s largest tech companies, has raised $250 million in an investment from funds managed by the New York-based private equity giant, Blackstone Group. It’s been ten years since TaskUs was founded with a $20,000 investment from its two co-founders, and the new deal, which values the decade-old company at $500 million before the money even comes in, is proof of how much has changed for the service in the years since it was founded. The Santa Monica-based company, which began as a browser-based virtual assistant company — “You send us a task and we get the task done,” recalled TaskUs chief executive Bryce Maddock — is now one of the main pr...

India’s Uber rival Ola is headed to Europe with ride-hailing launch in the UK

The UK is getting a new alternative to Uber after India-based ride-hailing company Ola announced plans to expand to the country, which will become its first market in Europe. Ola was founded in 2010 and it covers over 110 cities in India where it offers licensed taxis, private hire cars and rickshaws through a network of over one million drivers. The company has raised around $3 billion from investors that include SoftBank, Chinese duo Tencent and Didi Chuxing and DST Global . It was last valued at $7 billion. Ola ventured overseas for the first time when it launched in Australia earlier this year — it is now in seven cities there — and its move into the UK signals a further expansion into Europe. Ola’s UK service isn’t live right now, but the company said it will begin offering licensed t...

China’s Didi pumps $1B into its rebranded driver services business

Didi Chuxing is going pedal to the metal for its automobile services business after it announced it will invest $1 billion into the division, which is also getting a rebrand. The Chinese ride-hailing firm had been tipped to spin out the business and raise $1.5 billion from investors ahead of an IPO, according to a recent Reuters report. The business itself hasn’t spun out, however, but it has been renamed to Xiaoju Automobile Solutions and given more autonomy with the introduction of its own general manager. The division handles services for registered Didi drivers, such as leasing and purchase financing, insurance, repairs, refueling, car-sharing and more. Essentially, with its huge army of drivers, Didi can get preferential rates from service providers, which means better deals for its d...

WhatsApp limits message forwarding in bid to reduce spam and misinformation

In a bid to cut down on the spread of false information and spam, WhatsApp recently added labels that indicate when a message has been forwarded. Now the company is sharpening that strategy by imposing limits on how many groups a message can be sent on to. Originally, users could forward messages on to multiple groups, but a new trial will see that forwarding limited to 20 groups worldwide. In India, however, which is WhatsApp’s largest market with 200 million users, the limit will be just five. In addition, a ‘quick forward’ option that allowed users to pass on images and videos to others rapidly is being removed from India. “We believe that these changes — which we’ll continue to evaluate — will help keep WhatsApp the way it was designed to be: a private messaging app,” the company said ...

China’s Didi Chuxing continues its international expansion with Australia launch

Didi Chuxing, China’s dominant ride-hailing company, is continuing its international expansion after it announced plans to launch in Australia this month. The company — which bought Uber’s China business in 2016 — said it will begin serving customers in Melbourne from June 25 following a month-long trial period in Geelong, a neighboring city that’s 75km away. The business will be run by a Didi subsidiary in Australia and it plans to offer “a series of welcome packages to both drivers and riders” — aka discounts and promotions, no doubt. It began signing up drivers on June 1, the company added. The Australia launch will again put Didi in direct competition with Uber, but that is becoming increasingly common, and also Ola and Didi which both count Didi as an investor — more on that below. Th...

Global tech firms and investors are reshaping Latin America’s startup environment

Latin America is emerging as the new battleground for the global tech giants, and some of Silicon Valley and Asia’s biggest investors—from Sequoia Capital to SoftBank—are taking notice. International investment in Latin American startups has more than doubled since 2013, with 25 new investors entering the region in 2017 alone, including SoftBank, Didi Chuxing and TPG’s US$1B global impact fund, The Rise Fund. Some of Silicon Valley’s biggest names are now active in Latin America, including Andreessen Horowitz, Accel Partners, Founders Fund, Sequoia Capital, and Y Combinator, choosing deals opportunistically across financing stages and sectors: Andreessen Horowitz made its inaugural investment in Latin America in Rappi, a last-mile delivery service operating in Colombia, Mexico and Brazil, ...

Wizeline expands its outsourced IT services business into southeast Asia

Wizeline, a provider of outsourced programming services, is expanding its global footprint with agreements to partner with a slew of development shops across Southeast Asia. Founded in 2014, the company has a similar vision as Andela — providing programming jobs for developers in emerging markets to unlock the local talent pool and expose a new generation and geographies to the startup world. While Andela has focused on opportunities to employ developers in Africa, Bismarck Lepe, Wizeline’s founder and chief executive, initially focused on Latin America. The company currently employs 300 people in Guadalajara, Mexico and opened its second office a year ago in Ho Chi Minh City. Now, the company is expanding its footprint by leveraging third-party developer shops to add additional programmer...

Travel Destinations to Visit in 2018

Whether you’re looking to spend $500 or $50,000 on an adventure, get out and see a new part of the world in 2018. It doesn’t matter if you’re looking for relaxing vacation in a state you haven’t seen or looking to explore a new country. Make a plan and make it happen. GrenadaThis Caribbean island is perfect for those looking for crowdless beaches, lush rainforests, and alluring culture and cuisine. This island is oddly not well known, making it perfect for adventure seekers looking to get an authentic experience rather than the tourist view of the island. Source 1 Greenville, South CarolinaWith an uprising of trendy and upscale restaurants, this is a great place if you’re in the mood to do a food tour. The town will soon have a food-based market called the Commons. From modern dinning at J...

Cancun Will Pay You Big Bank To Stay At Luxury Hotels For Six Months

World’s greatest job opening was just listed and it’s time to tweak your resumé video. Cancun.com just opened a position meant for thrill seekers who love to vacation in the lap of luxury. The official title is Cancun Experience Officer and the chosen one will get paid to delve into the lively Mexican city for six months and bouncing through several luxury hotels and resorts. As for the lofty check, how does just shy of $60,000 sound? Along with the good fun of swimming with the sharks, venturing through the jungle and even trekking through ancient ruins, comes a good deal of work. The Cancun Experience Officer, or CEO, will be an ambassador and subject matter expert for Cancun.com as well as create and edit content to promote Cancun through videos and photos. “The ideal applicant will hav...

  • 1
  • 2