The Japan-based e-commerce group's investment in ride hailing platform Cabify illustrates how e-commerce businesses cannot afford to be pure play anymore.
E-commerce company Rakuten’s substantial investment in Spain-based ride hailing platform Cabify last week highlights the firm’s expansion of its corporate venturing activities as it looks to grow into a more diversified online services provider.
Cabify raised $120m in a series C round led by Rakuten that valued it at $320m post-money. It took the company’s overall funding to approximately $147m, $12m of which was secured in October 2015, when Cabify closed a $12m round also led by Rakuten and…
