The crowd seems unable to stop discussing Ele.me, one of the largest food ordering mobile app operators in China, as its future remains uncertain for a few reasons. To gain more insights into the company and join the conversation with Sentifi financial team, stick with Sentifi.
Ele.me: Misses important KPIs
Being one of the largest and hottest companies in China, it’s natural that it attracts investments from other large and hot companies. Alibaba Group Holding Ltd. is one of them. This big player, along with its affiliate Ant Financial, invested $1.25 billion in Ele.me earlier this year in return of some important key performance metrics that it had it hit. Unfortunately, it missed those KPIs, including the timing of an IPO, market share and revenues. This could spell trouble for the company because as per a valuation adjustment mechanism clause, which gives investors the right to adjust the valuation when certain conditions are satisfied, Alibaba and Ant Financial could take over Ele.me.
Nigerian Breweries Plc.: Fire at headquarters
A fire outbreak took place at the headquarters of the company in Iganmu, Lagos, which fortunately resulted in no casualties. The company is one of the largest producers of beer in the West African country with popular brands such as Star Lager.
Bezeq: Allowed to merge various units
Israel’s telecoms regulator had noticed the company that it will likely be able to merge its various business units. Being the dominant telecoms operator in Israel, the company has a unique structural separation where it is forced to keep its mobile phone, fixed line, satellite TV and internet units as separate entities. If it is permitted to end this separation, the company will be able to offer packages of phone, internet and TV, which will give its an incredible advantage over its smaller competitors.
Avner Oil Exploration and Delek Drilling, gas and oil exploration units of Israeli conglomerate Delek Group, will merger with the purpose of reducing costs and attracting new investors. Anver will be dissolved, and all of its assets and liabilities will be transferred to Delek Drilling.
Snap Inc.: Acquires AR firm
The company acquired Cimagine, an Israeli augmented reality firm, which helps retailers and consumers visualize where products will be shown. Though no specific figure was given by Snapchat, the company reportedly paid between $30 million and $40 million for the company. Snapchat is hoping to use AR for advertising and consumer applications.
General Moly: Files for stock shelf
The company has filed a SEC filing for stock shelf of up to $25.2 million, which relates to the disposition of up to 93.3 million shares, including 80 million shares issuable upon exercise outstanding warrants. The company further said that it won’t receive any proceeds from the sale of common stock by the selling stockholders.
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