An Uber rival has snagged $100M from a tech heavyweight to conquer the Brazilian market
|05/25/2017||Posted by BusinessMediaguide.Com under General World News||
Japan’s SoftBank Group agreed to invest $100 million in Brazilian ride-hailing app 99, the startup said on Wednesday, capping off a fund-raising round totaling more than $200 million.
The investment turns up the heat on Uber, which had been touting its success in Latin American markets. As the ride-hailing goliath stumbles amid lawsuits and investigations, its rivals have seized the moment to capitalize and bring in cash.