There is another king in the travel tech Industry. Like Airbnb, Travelko, OYO, and Klook, A Korean hotel platform named Yanolja has declared that they have already closed a deal of series D which has a valuation of $1B.
Booking Holdings which a US firm, GIC and Singapore sovereign has already made an investment on that deal. The US firm has travel services named as Booking.com and agoda.com and more. They have already collected the fund of $60million according to the CrunchBase data. In the year 2017, Bloomberg announced that their valuation is almost over $500 million.
Yanolja is famous for updating the facilities of hotel services in Korea. They have always tried to make the hotels comfortable for the people who are travelling and for young people. The service was started by Su-Jin who was a former hotel worker. This was started as an advertising foundation for a love hotel. Later on, they started taking the booking through apps.
Today, they have declared that they have almost 200 hotels in Korea and they are trying to expand their business in an overseas level. They try to crack a deal with Zen rooms which was priced at $15 million. It was a Rocket Internet-backed budget hotel room. They are spreading their business with Agoda on an overseas level.
Yanolja and OYO are two parallel organizations. OYO is an Indian company which has given a new look to the unorganized not so popular hotel a new look. OYO has already won the deal of backing Softbank’s Vision Fund. They have raised a fund of $1B which took part in last year. Airbnb is also a partner in this deal.
The company has already flushed themselves with cash and they are also expanding their market into China. They have batched themselves as the nation’s second-largest hotel industry.
Yanolja is also planning to spread its market on an international level.
Kim Jong-Yoon said on an interview with Reuters that “We are very keen to go global.”
Going international is their primary objective. Bloomberg said that they are always ready to do so, but things are not going that well. CEO Kim said that 2022 is a very tough time frame. They have routined their work at that time to expand their business.
It has the capability of potential growth.
Yanolja said that they have raised the revenue up to 70% in the last five years. Reuters added that they already have collected revenue of 188.5 KRW which is almost $160 million.
DoorDash is vigorously downing on the controversial pay model
DoorDash can’t find anything in the compensation of the model. They have already subsidized the wages of the driver with the tips of their customers. But right now, Doordash is keeping a proper proof of each delivery. It was written in a report of Tony Xu, who is the CEO of DoorDash.
The report stated that:
“With our current pay model, Dashers see a guaranteed minimum — including tips — prior to accepting delivery,” and he also added that “The guaranteed minimum is based on the estimated time and effort required to complete the delivery. Providing this guarantee upfront means that Dashers are more likely to accept all kinds of deliveries because they know what their earnings will be even if the customer provides little or no tip.”
The report clearly depicts that sometimes the basic pay of the delivery is almost about $1.
The labor right group of Washington reported TechCrunch that:
“Talking about transparency is good,” and they also said that “And admitting you pay $1/job is better than denying it. But $1 is still $1.”
To clear all the troubles of the payments, Postmates and Doordash are working together in the Pay Up Campaign. It combines every worker who works in those gig economy platforms.
DoorDash said in a statement that:
“They continue to subtract tips from worker pay,” the organization said in its statement. “They also stated that “And they continue to mislead customers about where their tips are going. When a customer tips more, DoorDash pays less — in other words, the customer is tipping the company.”
Whatever DoorDash says, The Pay Up Campaign will take the main decision. They said that the basic minimum pay will be of $15. The payment includes the expense of the detailed breakdown of jobs, tips, and active jobs.
Taster has already raised a new fund of 8 Million for its local delivery brands
Many people have their accounts on the social media website named Instagram. They almost go through different interesting ads for selling products to the customers. They have already linked their store details with their online social media accounts. The Taster is a French startup company who has already done the same work for their food delivery chain.
They have already collected a new fund of $8 million from the new projects like LocalGlobe, Battery Ventures, GFC, Marc Menase and heartcore Capital. All of them are existing investors.
The organization has already made a local brand for the Glovo, UberEats or Deliveroo. O Ke Kai, Mission Saigon and Out-fry are the new brands launched by the organization. The new feature is that they don’t have any kind of tables. They only have kitchens and the customer can only have the food delivery services. They can give services from multiple locations of the city.
The startup has already accomplished a mission by delivering 400000 meals in London, Paris, and Madrid. The organization is planning to deliver a specific amount of meal for a day. There are almost 100 people in the kitchen and almost 115 full-time employees who work for the food delivery chain.
The company has made a decision to fund new brands so that they can open more kitchens. The business is increasing. The company does not handle anything about real estate. They depend upon the company like Travis Kalanick’s CloudKitchen. It is a third party franchise.
Right now, the company is focusing on creating new brands and cooking foods. They can easily make huge records on making foods with the help of good traditional restaurants.
They don’t think anything about the delivery system. So, this advantage makes Tester better than Frichti. It is a Full-stack startup. Other traditional restaurants have their own ample amount of rents. But the tester doesn’t have any charges because they don’t hire any waiters or they serve food to any kind expensive exotic locations. Using the services of Taster is far more beneficial than any other expensive restaurants.
Apple Computers finally announced that they have acquired a self-driven car startup
Drive Ai which is basically a self-driving car company is being acquired by Apple Computers. The startup has been making a lot of autonomous vehicles with the help of their Artificial Intelligence for almost two years. The company has been trying to make money and that is the reason they are now partnering up with Apple so that they can work more on their technology. The market in this sector is very competitive and this is why it was important for Drive Ai to start working with Apple who will be able to fund their ambitious projects.
The San Francisco Chronicle has come out with a report that it was all filed with all the regulators about shutting down the business. The amount of money that Apple spends on buying this new company was still not disclosed. None of the parties have come out and said how much money was exchanged. A spokesperson from Drive Ai came out and said:
“this new partnership for our company will be very helpful for both the companies because Apple will finally invest their money on something new which has the power to change the world and Driver Ai will finally spend some money on developing all the different technologies they are working on.”
The paper has been very open about the entire news and they have revealed that the company has ended up laying off a total of 90 employees. There have been cost cuttings made by the startup and it is expected that the company can make profits under the guidance of Apple with the help of their resources.
There has not been a lot of information about the new Apple’s Project Titan but nothing concrete has come out of these. People have been trying to know more about the project, but Apple has been very silent about the entire project. Apple will be giving all its resources to the company so that they can work on their Artificial Intelligence and come up with the self-driven car technology on their own.
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