Lyve Global, a software-as-a-service platform founded in the UAE, acquired a majority stake in the last-mile delivery and logistics company, Jeebly.
The acquisition is part of Lyve’s plans for the next two years, with more than $150 million in planned investments, the company said in a statement on Tuesday. It did not, however, disclose the financial details of its deal with Jeebly.
Founded in 2016, Lyve enables businesses to digitise their customer journey from orders to payments to end deliveries.
This is an alliance that is set to strengthen our proposition and create unique synergies that will benefit our customers
Raman Pathak,
chief executive and co-founder of Jeebly
The company's acquisition of a majority stake in UAE-based Jeebly marks a “significant step as part of the its new investment strategy”, which is aimed at expanding its offerings and market reach.
“This is an exciting time for us … in less than 12 months, we have concluded four acquisitions,” Lyve’s chief investment officer Nader Museitif said.
“Jeebly has been an exceptional success story and we are happy to be working together on the next stage of the journey. This is one of several investments that will complement our offering and we will be actively looking to acquire companies that add to our spectrum of services.”
Lyve, which has operations in 20 countries, uses cloud-based platforms and services to enable “hundreds of millions of orders” every month on behalf of leading brands across the e-commerce, food and beverage, grocery and healthcare industries.
Its solutions empower businesses across several verticals to manage logistics operations, optimise fleet schedule and tracking, provide analytics and enhance customer acquisition channels. It offers its solutions to hundreds of clients and leading brands from the e-commerce, pharmaceutical, telecoms, grocery, and food and beverage industries.
Companies such as Jeebly and Lyve benefited strongly from a surge in demand for logistics and freight-forwarding services during the Covid-19 pandemic as e-commerce picked up.
With the rapid rise of e-commerce in the region, companies are focused on developing strategies that enhance online trade. Lyve’s solutions allow companies to thrive in the digital landscape by helping them with order generation and management, payments and delivery across 20 markets.
“We are excited to welcome Lyve Global as our growth partner. This is an alliance that is set to strengthen our proposition and create unique synergies that will benefit our customers. Together, we will be more resilient and prepared for future opportunities,” said Raman Pathak, chief executive and co-founder of Jeebly.
Established in 2016, Jeebly has onboarded more than 500 key global and regional clients across several industries.
By leveraging Lyve’s network, the acquisition will help it to accelerate growth in its existing markets while also strengthening its operational capabilities across the Gulf region.
Australia men's Test cricket fixtures 2021/22
One-off Test v Afghanistan:
Nov 27-Dec 1: Blundstone Arena, Hobart
The Ashes v England:
Dec 8-12: 1st Test, Gabba, Brisbane
Dec 16-20: 2nd Test, Adelaide Oval, Adelaide (day/night)
Dec 26-30: 3rd Test, Melbourne Cricket Ground, Melbourne
Jan 5-9, 2022: 4th Test, Sydney Cricket Ground, Sydney
Jan 14-18: 5th Test, Optus Stadium, Perth
Tuesday's fixtures
Kyrgyzstan v Qatar, 5.45pm
COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. Teaching your child to save
Pre-school (three - five years)
You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.
Early childhood (six - eight years)
Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.
Middle childhood (nine - 11 years)
Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.
Young teens (12 - 14 years)
Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.
Teenage (15 - 18 years)
Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.
Young adulthood (19 - 22 years)
Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.
* JP Morgan Private Bank
Company Profile:
Name: The Protein Bakeshop
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Founders: Rashi Chowdhary and Saad Umerani
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Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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UAE currency: the story behind the money in your pockets
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
More coverage from the Future Forum
Company%20Profile
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Specs
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