Ride-hailing financing drops. Uber hires Google vets. PolySync ready to ship.
Since the rise of Uber and its kin, ride-hailing or transportation network companies (TNCs) have been instrumental to Silicon Valley’s vision of a future mobility landscape. As such, it’s not surprising that startups in this field have gone on to raise some of the largest financings that VC-backed companies have ever seen.
Beyond equity alone, as 2016 wore on we saw Uber dipping into new financing instruments, turning to the leveraged loan market for the first time. Meanwhile, towards the close of the year we had an established name in Ola considering a downround amid skepticism over its valuation.
With these companies still burning cash to invest in new markets and technologies, we’ll be watching to see how much investor appetite remains in the market, and whether the largest players will continue finding alternate funding sources to avoid diluting already byzantine cap tables.