Ele.me, a Chinese food delivery ordering platform backed by Alibaba Holdings and several private equity investors, has confirmed its merger with Baidu Waimai, the food delivery business of Chinese internet giant Baidu.
Under the agreement, Baidu Waimai has become a subsidiary of Ele.me and will continue to operate under its own name. The deal reportedly valued Baidu Waimai at around $800 million and gives Baidu’s management...
Australian graphic design start-up Canva has raised $70 million from investors including US-based General Catalyst and Bond Capital, the new vehicle of Silicon Valley veteran Mary Meeker. It values Canva at $2.5 billion.
India’s Everstone Group has hired Suresh Vaswani (pictured), a former executive at Wipro, Dell, and IBM, as a senior director focused on investments in information technology (IT).
Sanjieke, a China-based vocational training services provider, has raised an RMB130 million ($19 million) in a Series B round of funding led by Wu Capital.
ADV Partners has agreed to acquire heavy vehicles producer Dutch Lanka Trailer Manufacturers (DLT), a Sri Lanka-based subsidiary of Indian conglomerate Tata Group, for INR3.05 billion ($43.7 million).