Executives at Japanese SoftBank Group Corp behind Vision Fund are reportedly weighing the idea of an initial public offering for venture firm after the firm has previously raised around US$100 billion to invest in technology companies including Grab and DoorDash.
The idea came in the light of two of their investees Uber and WeWork are preparing for their public listing. An IPO would give investors in the fund a way to cash out part or all of their stakes and the fund might consider a direct listing rather than a traditional IPO.
After Indonesian government implemented the minimum tariffs earlier this months, reports surrounding customer reaction to the ruling are surfacing including from Research Institute of Socio-Economic Development (RISED) that found 75% dissatisfaction with the new rates.
The new rates see customers to faced increases of up IDR 15.000 (US$1) depending on which region they live in, while the study showed that the average customer is only willing to spend additional rates ranging from IDR 4.900 (US$ 0.34) – 5.200 (US$ 0.36) per day.
The regulation is the result of lobbied hard by online taxi drivers but RISED warned that if people are booking fewer rides because of concerns over the price, this will ultimately also reduce drivers’ income.
With the popular usage of electric scooters around the city to deliver food orders, Grab Ventures announced its new subscription plan for its food delivery-partners in the country.
Under the subscription plan, food delivery partners can enjoy unlimited rides on GrabWheels’ e-scooters across the island, where there are close to 30 pickup points and drop-off points, for S$75 (US$55.07) per month.