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...SoftBank and its Vision Fund have also backed China’s Didi and Grab in south-east Asia, as well as food delivery services DoorDash and Rappi, which compete with Uber Eats in North America and Latin America...
...Several of the Japanese group’s other investments offer food delivery services, including the Colombian start-up Rappi and Singaporean ride-hailing company Grab....
...(NYT) News round-up Wall Street banks ramp up research into quantum finance (FT) Data’s the secret weapon for Rappi, SoftBank’s big bet in Latin America (Reuters) Private equity managers scoop bigger...
...Mr Droege would not be drawn on the impact of its rivals’ increased financing, even though DoorDash and Rappi have raised hundreds of millions of dollars apiece from SoftBank, which is also Uber’s biggest...
...Revenue for Uber’s services fell 13 per cent year over year as rivals gained traction and new food delivery entrant Rappi raised $1bn to support its expansion....
...Conditions have also been difficult in Latin America, where Didi has pushed into car-booking in Brazil and Mexico, and SoftBank has put money into local food delivery rival Rappi....
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