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VC Deals: WeWork, Victoria's Secret Competitors Get Cash

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Welcome to Seeking Alpha’s Venture Capital Deals of the Week. Follow this account and turn on the e-mail alert to receive VCDeals in your inbox on Saturday mornings.

1. SoftBank sinks $1.5B into Chinese car trading

SoftBank (OTCPK:SFTBF,OTCPK:SFTBY) Vision Fund invested $1.5B in Chinese car trading platform Chehaoduo at an over $9B valuation.

Chehaoduo operates the sites Guazi and Maoduo and counts Tencent among its backers. The company will use the funding to develop its data and cloud computing technology. Chehaoduo will also improve services in down payments, second-hand vehicle trading, and after-market services at its over 600 physical stores.

Competitors: Uxin and Souche are longstanding competition while upstarts like ride-hail giant Didi (DIDI) move into the market.

2. Ant Financial backs WeWork competitor

Ant Financial (BABA) and Tiger Global co-led a $500M Series C in Danke Apartment at an over $2B valuation. The startup plans to use part of the money to update its rental data processing system, which uses AI-driven algorithms to determine housing prices.

Danke provides affordable housing for young Chinese living in urban centers by renting smaller, furnished apartments with the startup covering things like housekeeping and maintenance. Danke currently has a presence in 10 major Chinese cities. Some of the new funds will go towards improving apartment amenities and expanding the current offerings, which mostly target recent graduates and office workers, to blue collar workers.

Competitors: WeWork's (VWORK) WeLive operates on a similar model.

3. Dell helps storage architecture startup out of stealth

Dell's (DELL) VC arm and Goldman Sachs (GS) participated in Series A and B fundings totaling $80M in storage architecture startup Vast Data, which emerged from stealth mode. Norwest Venture Partners, 83 North, and TPG Growth.

Vast claims to develop an innovating form of data reduction and introduced its Universal Storage system

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Our news team's weekend review of the week's top venture capital deals involving publicly traded companies.

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Comments (1)

The child transportation is interested. As kids, we were always told to never get into someone else’s car that of whom we did not know. Now we’re gung-ho to put our kids in cars of strangers.

Granted we’re in a technological age and it’s safer now than it was 20-30 years ago, it’s still funny to see how times have changed.
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