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Lyft to launch road show for up to US$2 billion IPO

An electric scooter from the ride sharing company Lyft is shown on a downtown sidewalk in San Diego, California, U.S., March 15, 2019. REUTERS/Mike Blake

 

REUTERS: Ride-hailing platform Lyft Inc will launch the investor road show for its initial public offering on Monday, seeking to raise as much as US$2 billion and to be valued at more than US$20 billion, according to people familiar with the matter.

 

Lyft will be seeking to convince investors to make large commitments to its IPO, rather than hold out for its larger rival Uber Technologies Inc, which is planning to launch its own public offering next month, the sources said.


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Facebook loses CPO Chris Cox and WhatsApp VP Chris Daniels

 

13-year Facebook  veteran, Chief Product Officer, and the spirit animal of the social network Chris Cox is departing the company after two years of seeking to do something new. Cox’s exit is part of a big executive reshuffle as Facebook embarks on prioritizing privacy through messaging, groups, Stories, and backend unification of its chat features.

 

CEO Mark Zuckerberg explained the departure of his long-time friend, saying “For a few years, Chris has been discussing with me his desire to do something else . . . But after 2016, we both realized we had too much important work to do to improve our products for society, and he stayed to help us work through these issues and help us chart a course for our family of apps going forward. At this point, we have made real progress . . .  As we embark on this next major chapter, Chris has decided now is the time to step back from leading these teams.”

 

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Google Drive, Gmail hit by 'service disruption'

 

SINGAPORE: Google said on Wednesday (Mar 13) it is investigating issues with Gmail and Google Drive, after users around the world reported disruptions.

 

Its website indicated that both Gmail and Google Drive were affected by "service disruption".

 

"The affected users are able to access Gmail (and Google Drive), but are seeing error messages, high latency, and/or other unexpected behavior," it said on its G Suite Status Dashboard.


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Mobike quitting Asia-Pacific markets: report

 

Chinese bike-sharing unicorn Mobike is shutting down its Asia-Pacific operations outside of China as the prelude to a wider global retreat, according to reports.

 

Citing several anonymous sources, TechCrunch reported that Mobike laid off its Asia-Pacific operations team – composed of more than 15 employees – and contractors across its ex-China markets of Australia, India, Malaysia, Singapore, and Thailand.

 

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Outbound travel market may be the best bet for Visa, Mastercard to access China

 

While “cash or card” is the usual question when standing at a cashier’s till in the west, in China the answer is neither.

 

Visa and Mastercard, the world’s leading credit card companies accepted in over 200 countries, may eventually enter China after a 20-year wait as part of a potential US-China trade deal.

 

But China’s transition towards a cashless and cardless society, with nine out of 10 internet users already paying for things with smartphones, means the card giants will likely look to work with the country’s dominant mobile payment providers in key segments, such as outbound tourism.

 

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