2019年5月17日
Amazon's Deliveroo investment is a bad sign for Uber — shares of an Uber Eats rival are tanking
Uber’s week just got worse. Days after the ride-hailing giant went public and saw its stock plunge 8% on its first day of trading, Amazon has invested in Deliveroo, the archrival of Uber’s meal-delivery service, Uber Eats, in the UK. The news sent shares down 7% in Just Eat, wiping more than £360 million off the market cap of the third major food-delivery company in the UK.
Deliveroo, which works with more than 80,000 restaurants and takeaways and 60,000 delivery riders, has raised just over $US1.5 billion to date. Uber Eats has partnered with more than 220,000 restaurants across upward of 500 cities. It generated net revenue of $US587 million in 2017, while Deliveroo’s annual revenue was £277 million ($US354 million) that year. Uber Eats is also growing quickly: its net revenue surged by nearly 150% to almost $US1.5 billion in 2018.
Amazon joined existing Deliveroo investors T Rowe Price, Fidelity, and Greenoaks Capital in the Series G funding round. Deliveroo plans to use the additional funds to hire more engineers at its London headquarters, expand into new areas to reach new customers. “We’re impressed with Deliveroo’s approach, and their dedication to providing customers with an ever increasing selection of great restaurants along with convenient delivery options.” said Doug Gurr, Amazon UK Country manager.
Fintech lender Prospa launches $110 million IPO after botched first attempt
In a a prospectus lodged with the exchange on Thursday, Prospa announced it is seeking to raise $109.6 billion with an initial public offer (IPO) of new shares at a price of $3.78 per share. Prospa, which makes super-fast loans between $5,000 and $250,000 to small businesses, mysteriously withdrew its first IPO campaign in June, just minutes before the float was scheduled.
No mention, though, of the company’s first attempt to list on the ASX, nor the concerns supposedly raised by the regulator that held up the IPO. Prospa was poised to list in 2018 with an intended raise of $146.5 million, with the bell-ringing planned for midday on 6 June. But just 15 minutes before, Prospa pulled the pin, citing concerns raised at the last minute by ASIC.
The corporate regulator, which met Prospa 24 hours before the original listing date, had not raised any specific red flags pertaining to Prospa’s prospectus. Then, just two days later, that “48 hours” turned into an indefinite delay. “As Australia’s largest superannuation fund we are excited to extend our support of the country’s largest fintech lender to small business,” said AustralianSuper senior portfolio manager Shaun Manuell.
A Wells Fargo personal banker pleaded guilty to helping launder millions of dollars for drug traffickers
A Wells Fargo personal banker pleaded guilty on Thursday to knowingly opening bank accounts for people working with the Sinaloa cartel. Thirty-year-old Luis Figueroa of Tijuana admitted he took part in the money laundering scheme that stretched across the US.
Between 2014 and 2016, money laundering organisations recruited people who would open bank accounts for the cartel’s drug money. The operation laundered over $US19 million dollars in narcotics proceeds. The drug money would be deposited into the bank accounts, also known as “funnel accounts.” Cash couriers would first pick up the drug money, often times stuffed it into “shopping bags, duffel bags or shoeboxes,” and then deposit it into Wells Fargo and other banks. The couriers would split the funds into $US22,000 to $US45,000 increments and deposit them into the funnel accounts. The money would be wired to shell companies based in Mexico and then picked up by the cartel.
Eight other people were arrested and charged in the joint FBI and IRS investigation. Regulatory agencies like the Financial Crimes Enforcement Network scrutinize bank accounts that receive several, questionable cash deposits of less than $US10,000. Banks are also encouraged to flag suspicious accounts if an individual deposits money in a different region from where the original bank account is based.