THE NEWS WRAP: Uber chases Chinese market by paying drivers more than what they make in fares
Tuesday, June 9, 2015/
Uber is handing out bonuses of up to three times the amount of its fares to drivers in China in a bid to crack the Chinese market and get ahead of local rivals.
The New York Times reports the spending spree is working, with more than 60,000 people signing up to become Uber drivers in China in the past month.
The news follows reports that the five-year-old startup was on the hunt for another $US1.5 billion in funding in order to continue its rapid expansion.
US food delivery startup Blue Apron carves up $US135 million in funding
Food delivery startup Blue Apron has raised $US135 million in funding in a bid to rapidly scale its network of farms and suppliers across America.
The round was led by Fidelity Management and Research Company, with participation from the startup’s existing investors.
Founder and chief executive Matt Salzberg said in a statement the latest capital injection will help fulfil the company’s vision of making home cooking “accessible to everyone”.
“This financing will allow us to further improve the efficiency of our model, from sourcing to fulfilment, in order to bring our customers a level of quality that has never been available at scale before,” he said.
The company says it delivers more than three million meals a month to homes across the United States.
Pay-per-article startup successfully woos German publishers
Dutch news subscription startup Blendle has managed to woo German publishers onto its pay-per-article platform, according to TechCrunch.
All of Germany’s major newspapers and magazines will start selling individual articles on Blendle, a little more than a year since the startup launched in the Netherlands.
The coup follows a $US3.8 million Series A round last year led by Axel Springer and the New York Times Company.
The Dow Jones Industrial Average is down 2.51 points, falling 0.01% to 17,764.04. The Aussie dollar is trading at around 76.89 US cents.