Food delivery start-up HelloFresh AG, which announced an Initial Public Offering (IPO) of equity on October 28, has decided to delay the sale because of concern about investor demand and valuation in a volatile market. It might revisit a listing early next year. HelloFresh fetched a valuation of Euro 2.6 billion ($2.8 billion) after raising Euro 75 million in September.
Airbnb to work with cities
Airbnb Inc has pledged to join with local governments and improve transparency as it faces scrutiny from hotels and policy makers who argue the home-sharing start-up is driving up rental prices and failing to pay taxes like the hotel industry, Bloomberg News said. The firm has released 'Airbnb Community Compact', a statement outlining its plan to cooperate with cities, and defending the positive economic impacts of its business.
ShopandBox raises $704K
Shopping start-up ShopandBox has raised $704,000 in a funding round led by 500 Startups. A group of angel investors from CMY Ventures and Waic Investment Holdings also contributed. The premise of ShopandBox is to help users (or shoppers) buy items either not available in their country or available but at a much higher price, Tech in Asia reported.
Acast launches app in US
Acast, Swedish podcast application backed by Angry Birds creator Kaj Hed and Nordic publishing group Bonnier AB, is crossing the Atlantic to start service in the US, riding demand that podcasts like 'Serial' ignited last year. The start-up, which currently operates in Sweden and the UK with 24 million listeners a month, has deals to air content from the Financial Times, Buzzfeed and youth-brand Fusion, chief executive Mans Ulvestam said to Bloomberg News.
Ehang raises funds in US
Ehang, a Chinese drone maker, has raised money in the US from online crowd-funding and venture capitalists. Back home in Guangzhou, the government pays its rent. Marketed in the US as playthings for a 12-year-old, the drones sell in China as state-subsidised surveillance tools used by police departments. China has figured out a way to be deeply involved in its start-ups while testing these in the less forgiving US market before committing large sums.
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