Rakuten is testing a radical model for wannabe telecom disruptors, says ClaraMarquesRTR:
Rakuten, Lyft’s largest shareholder, said on April 1 that it would book a 110 billion yen gain in the three months through March thanks to the ride-hailing firm’s listing.
The Japanese company also invested in online scrapbook startup Pinterest, having led a $100 million funding round in 2012, when the group was worth closer to $1.5 billion. The shares have surged since its listing on April 18, valuing it at almost $16 billion. Rakuten has also invested in Middle East-focused ride-hailing firm Careem, which is being acquired by Uber for $3.1 billion.
Rakuten said in December 2017 that it planned to become a mobile network operator, and announced in April 2018 that it had won government approval. It expects to launch its service from October.
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