Ola, Uber’s key rival in India, has taken its first step overseas after its service officially went live in Australia via a launch in Sydney. The company announced its plans to go Down Under at the end of January and in Sydney, which is its first full launch, Ola said it has signed up over 7,000 registered drivers. Initially, passengers will be able to enjoy free rides for a limited… Read More
Spotify has finally filed to go public, and in doing so the Swedish company has shed light on another huge music company that has been tipped for IPO — Tencent Music — which is now valued at over $12 billion.
Tencent and Spotify announced a share swap in December that saw each side take an undisclosed slice of the other for strategic purposes going forward. According to… Read More
Chinese internet giant Tencent is continuing to put its money in India and in music streaming services after it agreed to lead a $115 million investment in India’s Gaana. Gaana is a music streaming service that was started by Times Media, the company behind the Times of India newspaper and tech incubator Times Internet among other things, seven years ago. Gaana didn’t reveal its… Read More
A week that begins with the repeal of regulation that prevents dictatorship in China is likely to be a busy one for the country’s censorship people, and so it has proven to be. China’s web scrubbers have been busy banning a collection of terms and dropping the hammer on user accounts after the Xi Jinping, the country’s premier, got the all-clear to become ‘President… Read More
If you read the tech press, you might have seen reports that Uber is pursuing a sale in Southeast Asia that would see Grab, its Singapore-headquartered rival valued at $6 billion, acquire Uber’s business in the region. Rumors of such a tie-in have been rife for a while. Uber sold its China business in exactly such an arrangement in 2016, and it made a similar exit from Russia last year.… Read More
Korea’s dominant messaging firm Kakao is back raising funds after its games business, a standalone unit that is headed for an IPO, pulled in $130 million (140 billion KRW) from Tencent and a range of other strategic investors. The company, which owns Korea’s top mobile messaging app and one of the country’s largest internet portals, operates a sprawl of business that… Read More
Alibaba has furthered its physical retail footprint after it invested another billion dollars into projects to develop its so-called “new retail” strategy which combines online and offline. The Chinese firm, the dominant e-commerce player in its country, gobbled up a 15 percent stake in Beijing Easyhome Furnishing for RMB 5.45 billion, or around $867 million, and pumped $486… Read More
This week isn’t turning out to be great one for Uber in Japan. Two of its investors — Didi and SoftBank — are teaming up to launch a rival service, while one of its existing competitors has just landed a big cash infusion and highly influential backer after Toyota backed JapanTaxi. The auto giant said it will invest 7.5 billion JPY ($69 billion) into JapanTaxi, an… Read More
Sony is getting a new CEO after it announced that CFO Kenichiro Yoshida will replace Kazuo Hirai as the head of the Japanese firm. The move will happen April 1, with Hirai shifting to the role of Chairman. “I have dedicated myself to transforming the company and enhancing its profitability, and am very proud that now, in the third and final year of our current mid-range corporate plan,… Read More
In news that will excite every Nintendo fan on the planet, the Japanese gaming giant just announced that it will bring its hugely popular Mario Kart series to mobile. Nintendo teased the upcoming development of ‘Mario Kart Tour’ which it said will be released sometime before March 2019. A long wait, indeed, and for now we have no additional details. But, for most enthusiasts,… Read More
Google has confirmed its investment in Go-Jek, the hail-railing service that rivals Uber and Grab in Indonesia. TechCrunch reported the investment last week, which was made alongside China’s Meituan-Dianping and Singaporean sovereign fund Temasek. The trio were part of a final tranche of a $1.2 billion round that Go-Jek began negotiating on last April, with commitments from the likes… Read More
Tryb Group, a Singapore-based organization focused on fintech services in Southeast Asia, has landed a $30 million investment from Makara Capital. The investment comes from Makara’s $770 million joint fund with the Intellectual Property Office of Singapore (IPOS), which is focused on finding valuable IP in the tech and startup space. TechCrunch understands that Tryb is talking to a… Read More
Google continues to increase its presence in China after it joined Sequoia China and Tencent in a $15 million investment for XtalPi, a U.S.-China biotech firm that uses artificial intelligence and computing to accelerate the development of new drugs. The search giant remains blocked in China, but that hasn’t stopped it from making a series of moves in recent months. It is opening an… Read More
SmartHR, a startup helping Japanese employers run HR and staffing smarter — because that’s of course its name — has raised a JPY 1.5 billion ($13.3 million) Series B round led by 500 Startups Japan. The startup is perhaps comparable to the likes of Zenefits and Gusto in the U.S. — it aims to drag Japanese HR departments into today’s digital era. “In Japan… Read More
It’s been a while since we heard from Snow, the Snapchat clone app in Asia that Facebook once tried to buy, but today the company behind it has scooped up a $50 million investment from SoftBank and Sequoia China.
Snow was started by Naver, the Korean firm behind popular messaging app Line, and it had proven popular in Japan, Korea, China and other markets in Asia thanks to a focus on… Read More
Google has yet more news from China after the U.S. search firm announced a patent cross-licensing agreement with Chinese tech giant Tencent. The terms were not disclosed, but Google said the tie-in with Tencent, which is valued at over $500 billion, covers “a broad range of products and technologies” and is “long-term.” The two firms pledged to work together on… Read More
Nearly two years to the day of its majority investment in Grindr, China-based tech firm Kunlun Group has fully acquired the gay dating app. Grindr is among the, if not the, world’s most popular LBQT dating app with a claimed 3.3 million daily users. Kunlun, which is best known for games but is part of a consortium that acquired Opera’s browser business, bought 60 percent of the… Read More
Inside baseball klaxon: media writing about media story incoming:: Mumbrella, the Australia-based media company, has been sold by its founders to U.S./APAC events company Diversified Communications.
Mumbrella operates media and marketing industry-focused websites for Australia and Asia, an events business and a database service called The Source. It has 33 staff across four offices. The… Read More
Ola, the Uber rival in India, is entering the food delivery space after it announced a deal to acquire Foodpanda’s India business from its parent company DeliveryHero. The deal will see Ola scoop up the Foodpanda India business with DeliveryHero taking an undisclosed amount of Ola stock in exchange. Undisclosed all-stock deals are usually indicative of a willingness to sell, and we… Read More
Horizons Ventures, the VC firm founded by Hong Kong’s richest man Li Ka-Shing, has made a rare early-stage investment after it backed AI startup Fano Labs.
Horizons has invested in the likes of Facebook, Razer, Slack, Improbable, Spotify and more, and now it is putting undisclosed money into Fano Labs, which recently graduated AI accelerator program Zeroth. This deal also marks the… Read More
Go-Jek, the company leading Uber and Grab in Southeast Asia’s largest market, has bagged a hattrick of deals to advance its mobile payment strategy. Indonesia-based Go-Jek revealed it has acquired offline payment firm Kartuku, payment gateway Midtrans and payment and lending network Mapan for undisclosed sums. The company started out in 2015 offering a ride-hailing service for… Read More
It took Chinese authorities just seven minutes to locate and apprehend BBC reporter John Sudworth using its powerful network of CCTV camera and facial recognition technology. This wasn’t a case of a member of the media being forcibly removed from the country. The chase was a stunt set up to illustrate just how powerful and effective the Chinese government’s surveillance system… Read More
Techstars is bringing its global accelerator program to Asia for the first time in partnership with Japanese e-commerce giant Rakuten and its chat app Viber. The companies will run a three-month program in Singapore starting in July, according to a joint announcement made today. The focus will be on social messaging and, in particular, technologies and startups that align with Viber, the… Read More
Vahdam Teas, an e-commerce that’s focused on selling the freshest brews on the planet, has closed a Series A funding round worth $1.4 million to grow its business.
The funding was led by new backers Fireside Venture, Mumbai Angels, Singapore Angel Network and undisclosed existing investors. The two-year-old company previously raised a $500,000 seed round from angels in January of this… Read More
Ola, the company battling Uber in India, has turned to pedal power after it introduced a bike-sharing service. China’s Didi Chuxing and Grab in Southeast Asia have invested in bike-sharing companies, which offered dock-less bikes that users can pick up across a city and leave anywhere they want when they’re done, and now Ola — which recently raised $1.1 billion in fresh… Read More
Chinese internet Baidu is widely-credited for being one of the first to dive deep into artificial intelligence, hiring Coursera co-founder Andrew Ng (who has since departed) to lead its efforts back in 2014. Surprisingly, then, it has taken the company until today to release its own smart home products. But, far from another identikit contender, they stand out for being quite unlike… Read More
Amazon has denied reports that it is withdrawing its AWS business from China, but the firm did admit that it has been forced to sell some physical assets to its local partner. The U.S. firm appeared to have exited the country after The Wall Street Journal and Reuters reported that Beijing Sinnet, the partner that operates AWS China, had notified investors of its acquisition of the… Read More
New CEO Dara Khosrowshahi has been vocal in pledging to reform Uber’s toxic culture to take the business to the next level — and ultimately an IPO — but, over in Asia, another recent arrival is presiding over a revamped approach which includes turning those who were once enemies into friends. Brooks Entwistle, a former Chairman of Goldman Sachs Southeast Asia, joined… Read More
Alibaba has set another Single’s Day record after the e-commerce giant sold over $25 billion of product on the Chinese biggest online shopping date. The full number comes in at 163.8 billion RMB, that’s roughly $25.4 billion, in GMV — that’s “gross merchandise volume” which is used to measure a dollar value for all sales on a platform. In Alibaba’s… Read More
Indonesia later dropped its threat after Tenor, WhatsApp’s third party GIF provider, appeared to have fixed the issue.
“We see now that they have done what we asked. Therefore we won’t block them,” the director general from Indonesia’s communication and informatics ministry, Semuel Pangerapan told Reuters on Tuesday. Read more…
There’s more funding for Southeast Asia’s growing local services space after Kaodim, a Malaysia-based startup that operates in four countries in the region, raised $7 million.
Founded three years ago, Kaodim is a service for booking for hiring a range of services that include cleaning, moving, gas delivery, appliance care, and even photography.
The round was led by Square Peg… Read More
Grab is best known for rivaling Uber in Southeast Asia, but today the company took a major step into becoming a fintech player, too.
That’s because the ride-sharing firm, which recently raised $2 billion from SoftBank and China’s Didi Chuxing, rolled out support for its GrabPay service among third-party merchants for the first time today.
Grab is present in seven markets across… Read More
Singapore-based startup Carousell is in the money this week after it closed a Series C round of between $70-$80 million, two sources with knowledge of the deal told TechCrunch. Started by three graduates from the National University of Singapore in 2012, Carousell operates a mobile-first listings service for second-hand goods and services in Southeast Asia, Taiwan and Hong Kong. Prior to this… Read More
Southeast Asia-based fashion marketplace Zilingo has closed an $18 million Series B funding round led by Sequoia Capital India and Burda Principal Investments. Zilingo was founded less than two years ago by ex Sequoia analyst Ankiti Bose (CEO) and former Yahoo engineer Dhruv Kapoor (CTO). The basic vision is to help Southeast Asia’s thriving independent fashion sellers and… Read More
Chatbots may have underwhelmed thus far, but the impact of the technology still has bags of potential in international markets where mobile messaging has been mainstream for years. That’s the view of one startup that’s working to bring the benefit of bots to the mainstream in Indonesia, the world’s fourth most populous country and the largest economy in the growing region… Read More
It is looking like a new era is coming for ICOs, at least those in China for now. In the U.S., the SEC has issued official warnings around the risks of ICOs, also known as token sales, but the Chinese government looks set to beat it to implementing regulation around the rapidly growing fundraising option. A notice from a committee led by China’s central bank [link in Chinese] today… Read More
Thailand’s banks have stepped up to chase the startup dream over the past year. Following on from SCB’s Digital Ventures, which has backed blockchain startup Ripple among others, Kasikorn Bank (KBank) has made the first investment from its $30 million fund — a $1.15 million round for Bangkok-based FlowAccount. KBank announced its Beacon fund this summer. It has made… Read More
Samsung vice chairman and the company’s heir apparent Jay Y. Lee is headed to jail after a court in Korean ruled that he is guilty of bribery, embezzlement, capital flight and perjury charges. Lee, who has been earmarked as the future leader of the company, was handed a five-year jail sentence, although he is expected to appeal the decision. He took a board seat at Samsung last year in… Read More
China is about to take net neutrality to the next level after a group of influential tech companies that includes Baidu, Alibaba, Tencent, Didi Chuxing and JD.com agreed to invest nearly $12 billion into state-run mobile operator China Unicom.
China Unicom is the country’s second largest operator with 269 million mobile customers, which makes it one of the largest in the world. The… Read More
Uber has suspended its services in Philippines after the national regulator banned it from operating for one month. The country’s Land Transportation Franchising and Regulatory Board (LTFRB) ordered a cease and desist against the U.S. ride-hailing firm on Monday over its apparent flouting of a ban on new drivers. The company initially lodged an appeal and continued with its service,… Read More
China continues to crack down on online media after the government announced that it is investigating three of the country’s most influential social networks for hosting illicit content. The Office for Cyberspace Administration is looking into content on chat app WeChat, micro-blogging platform Weibo and web forum Baidu Tieba, each of which stands accused of failing to stamp out… Read More
Accelerator network SparkLabs opened its newest program today in Taipei. Headed by managing partner Edgar Chiu, SparkLabs Taipei will focus on preparing Taiwanese startups to enter other countries. Read More
Uber is in the spotlight for shady operations once again after a report revealed that the U.S. ride-hailing giant knowingly leased cars that were subject to a recall to drivers in Singapore. A Wall Street Journal report exposed the events which took place in 2016 and centered around the Honda Vezel, one of a number of vehicles that Uber purchased and then made available for drivers to lease… Read More
Chinese smartphone maker Xiaomi has secured a $1 billion loan in order to develop its international focus and build out its offline sales presence. The company revealed today that it has secured a three-year syndicated loan agreement from 18 banks across Europe, Middle East, India, China, Hong Kong and Taiwan. Deutsche Bank and Morgan Stanley served as joint global coordinator, with Bank… Read More
Despite being slammed by scandals, Samsung just recorded a record quarter of business with a net profit of $9.9 billion for Q2 2017. The Korea firm has been rocked by the recall of the Galaxy Note 7 and the prosecution of de facto leader Jay Y. Lee on bribery charges, but that didn’t stop it from pulling in revenue of $54.8 billion during the three-month period. That revenue figure rose… Read More
Less than a month after announcing plans to spin out its transportation and mobility business, Korean tech firm Kakao has inked deals to put hands-free systems inside cars from Korea’s second largest automotive firm Hyundai and its Kia affiliate.
Kakao is best known for operating Korea’s top messaging app, Kakao Talk, which is installed on over 95 percent of the country’s… Read More
Payment enabler Stripe just announced two significant tie-ins that could help its pool of merchants make money from consumers in China. U.S. firm Stripe said today that it has agreed to global deals with Alipay and WeChat Pay, two digital services that dominate consumer spending in China. Alipay, which is managed by Alibaba affiliate firm Ant Financial, counts over 500 million users, while… Read More
Office closures don’t just mean unemployment and uncertainty, they can lead to new opportunities. That’s the case for Mighty Bear Games, a Singapore-based games studio that grew out of the closure of King.com’s local office. As part of streamlining following its $5.9 billion acquisition by Activision, King.com shut down the Singapore office it picked up when it bought Non… Read More
Hike, the billion-dollar messaging app chasing WhatsApp in India, may be preparing to enter the live-streaming space following a recent acquisition. The company, which is backed by Chinese internet giant Tencent, has acquired India-based live-streaming app Pulse and at least two of its founding team, according to a report from Inc42. Hike declined to respond to our request for comment but,… Read More