Pills Don’t Pay the Bills
Attention all hypochondriacs: Internet Brands, run by the private equity group KKR, announced that it will acquire WebMD for $2.8 billion in cash. With WebMD’s trusted platform and performance, the merger will provide KKR with a huge repository of information and add to its portfolio of B2B and B2C sites. This marks the closing of a five-month auction, naming KKR the winning bidder over companies including Google that were also after the same massive database of information. (Source: CNBC & TechCrunch)
House of Netflix
Spiraling off of 91 Emmy nominations this year, Netflix won over San Diego Comic-Con to put the cherry on top of a record-breaking streaming season. Netflix took advantage of the growing number of studios pulling back from Comic-Con and used this opportunity to stand out against the likes of Game of Thrones and Justice League promotions. From off-site installations to a stacked speaking panel and screening of Death Note, the novice streaming service implemented strategic tactics to catch up with HBO, Marvel, and Warner Bros. But Netflix’s main advantage lies in its ability to forgo opening weekends and theatrical releases in order to invest their time and resources elsewhere. Fans are already excitedly anticipating the season two release of Stranger Things. 93 days – but who’s counting? (Source: The Verge)
Grab ‘n Go
Uber’s direct competitor in Southeast Asia, Grab, just snatched $2 billion in fundraising from Didi Chuxing and SoftBank. “We’re encouraged that these two visionary companies share our optimism for the future of Southeast Asia and its on-demand transportation and payment markets, and recognize that Grab is ideally positioned to capitalize on the massive market opportunities,” the CEO and co-founder of Grab, Anthony Tan, said. The investors believe that Grab has the potential to take down Uber in Southeast Asia, similar to Grab’s victory in China after Uber agreed to sell its local business last August. If I were Uber, I’d Grab my stuff and get out while I can. (Source: TechCrunch)
