Techmeme
August 1, 2016, 1:40 PM

Top News

Eric Newcomer / Bloomberg:
Didi Chuxing acquires Uber China; Uber China investors get a 20% stake of the combined business, which sources say has a $35B valuation  —  Uber Technologies Inc. will merge its China business with Didi Chuxing, the dominant ride-hailing service in the country, according to people familiar with the matter.
Didi Chuxing:
Didi Chuxing to acquire UberChina  —  Combined resources to promote healthy development of the rideshare industry  —  Didi Chuxing today announced a strategic agreement with Uber under which Didi Chuxing will acquire all assets of UberChina—including its brand,business operations and data—for operation within mainland China.
Ingrid Lunden / TechCrunch:
Verizon buys Fleetmatics, provider of SaaS GPS and logistics products, for $2.4B in cash  —  Hot off the heels of its acquisition of Yahoo last week for $4.8 billion, today Verizon announced another huge purchase: it's buying Fleetmatics, a telematics company based out of Dublin, Ireland …
Peter Sterne / Politico:
Jack Marshall / Wall Street Journal:
Brave Raises $4.5 Million to Fuel Growth of Ad-Blocking Browser  —  The company has raised $7 million in the last year  —  Brave Software announced Monday that it has raised $4.5 million to help grow its ad-blocking, privacy-centric web browser, which aims to nullify many of the ad targeting …
Jonathan Shieber / TechCrunch:
Alabama-based Shipt raises $20M Series A to challenge Instacart, Amazon, and Google in fresh food delivery, after becoming profitable in most of its markets  —  Nestled in a valley between the two tailing ends of the Appalachian foothills, the southern city of Birmingham …
Sam Byford / The Verge:
How LeEco differentiates itself from other Chinese manufacturers like Xiaomi through its focus on entertainment media, drawing from its streaming video origins  —  Chinese tech firm LeEco made its biggest splash on American soil yet yesterday with the announcement that it's acquiring Vizio, the biggest US maker of TVs, for $2 billion.

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