Tag: asia

SoftBank Group will buy a 5% stake in ZhongAn, China’s first online-only insurance agency

| September 18, 2017 | 0 Comments




 SoftBank Group has agreed to be a cornerstone investor in the initial public offering of ZhongAn, China’s first online-only insurance agency, on the Hong Kong Stock Exchange today. SoftBank Group will buy a 5 percent stake in the company, or about 72 million shares, at the offer price, which is in the range of HKD $53.70 to HKD $59.70 per share. If calculated based on the… Read More


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SoftBank Group will buy a 5% stake in ZhongAn, China’s first online-only insurance agency

China’s three largest bitcoin exchanges will all stop offering local trading

| September 16, 2017 | 0 Comments




 Well, that didn’t take long. Yesterday, China’s longest running bitcoin exchange, BTC China, announced it will suspend its local trading service at the end of this month, and today the country’s two other major exchanges — Huobi and OKCoin — followed suit to say they will cease at the end of October. The writing was on the wall when The Wall Street Journal… Read More


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China’s three largest bitcoin exchanges will all stop offering local trading

Tencent tried to buy Spotify earlier this year

| September 15, 2017 | 0 Comments




 Spotify has long been linked with going public in the U.S. — it is speculated to be preparing for an IPO-less listing next year — but it has emerged that the company rebuffed the opportunity to sell to a major tech name earlier this year: Tencent, the Chinese internet giant valued at $38 billion. Tencent is said to have approached Spotify with a view to acquiring the company to… Read More


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Tencent tried to buy Spotify earlier this year

The first of China’s top bitcoin exchanges has announced it will suspend trading

| September 14, 2017 | 0 Comments




 A number of China’s top bitcoin exchanges are preparing to suspend their services following instructions from the government. BTC China, one of the country’s top three, became the first to officially make the move after it announced today that will stop all trading for China-based customers from September 30. The company said other services, including its BTCC Pool for miners, are… Read More


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The first of China’s top bitcoin exchanges has announced it will suspend trading

Google is reportedly releasing a localized mobile payment service in India

| September 14, 2017 | 0 Comments





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Google is reportedly releasing a localized mobile payment service in India

ZenBook maker Asus launches $50M venture fund to bring Silicon Valley startups into Asia

| September 13, 2017 | 0 Comments





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ZenBook maker Asus launches $50M venture fund to bring Silicon Valley startups into Asia

North Korea’s hackers are reportedly targeting bitcoin exchanges

| September 13, 2017 | 0 Comments





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North Korea’s hackers are reportedly targeting bitcoin exchanges

India’s OYO snags $10M strategic investment from hotel giant China Lodging

| September 13, 2017 | 0 Comments




 Indian budget hotel startup OYO pulled in a big $250 million round led by SoftBank’s Vision Fund last week, but now it has topped that money up with a $10 million strategic investment from multi-billion dollar hotel management firm China Lodging. Beyond the financial commitment from NASDAQ-listed China Lodging — which was formerly known as Huazhu Hotels and is valued at $6.8… Read More


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India’s OYO snags $10M strategic investment from hotel giant China Lodging

Zilingo raises $18M for its fashion e-commerce service in Southeast Asia

| September 12, 2017 | 0 Comments




 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


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Zilingo raises $18M for its fashion e-commerce service in Southeast Asia

Singapore’s Red Dot Payment closes $5.2M Series B round

| September 12, 2017 | 0 Comments





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Singapore’s Red Dot Payment closes $5.2M Series B round

Xiaomi unveils second bezel-less Mi Mix smartphone and new Mi Note phablet

| September 11, 2017 | 0 Comments





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Xiaomi unveils second bezel-less Mi Mix smartphone and new Mi Note phablet

Weibo users given one-week warning to provide real names

| September 8, 2017 | 0 Comments




 The 340 million users of Sina Weibo, China’s popular microblogging service, have been given one week to link their accounts to a real name. The crackdown is being conducted in order to comply with new government rules restricting anonymous online conversation. Read More


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Weibo users given one-week warning to provide real names

Japanese startup plans one-stop ICO platform fueled by $25M from VCs and a $60M ICO

| September 8, 2017 | 0 Comments




 China banned ICOs this week and it is investigating platforms that facilitate them. Over in nearby Japan, one company is hatching an ambitious plan to offer a one-stop-service to let companies across the world take advantage of blockchain technology and IPOs. And all without violating financial regulations. Tech Bureau currently helps companies with consultancy and a range of technical… Read More


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Japanese startup plans one-stop ICO platform fueled by $25M from VCs and a $60M ICO

China’s UrWork invests in Indonesia’s ReWork via $3M deal as WeWork rivalry heats up

| September 8, 2017 | 0 Comments




 UrWork, the unicorn that is competing with WeWork in China, is following its American rival’s lead by extending its reach in Southeast Asia after it took part in a $3 million funding round for Indonesia-based ReWork. The round, which is described as pre-Series A, was led by China-U.S. firm ATM Capital and Indonesia’s Convergence Ventures. UrWork was a participant alongside U.S.… Read More


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China’s UrWork invests in Indonesia’s ReWork via $3M deal as WeWork rivalry heats up

Chatbot startup founder sees Southeast Asia potential despite slow start worldwide

| September 6, 2017 | 0 Comments




 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


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Chatbot startup founder sees Southeast Asia potential despite slow start worldwide

Hong Kong regulator ‘concerned’ by ICO funding boom

| September 5, 2017 | 0 Comments





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Hong Kong regulator ‘concerned’ by ICO funding boom

GoGoVan becomes Hong Kong’s first $1 billion startup following merger deal

| September 2, 2017 | 0 Comments




 At our TechCrunch China event in June we discussed the bright future that Hong Kong’s startup scene has, despite some big challenges. This week the country passed a notable milestone as it got its first $1 billion valued startup, better known as a unicorn.
The company in question is GoGoVan, a logistics on-demand provider that connects van drivers and customers for transporting goods. Read More


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GoGoVan becomes Hong Kong’s first $1 billion startup following merger deal

Thailand’s Kasikorn Bank backs cloud accounting startup in first deal for $30M fund

| August 30, 2017 | 0 Comments




 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


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Thailand’s Kasikorn Bank backs cloud accounting startup in first deal for $30M fund

China doubles down on real-name registration laws, forbidding anonymous online posts

| August 28, 2017 | 0 Comments





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China doubles down on real-name registration laws, forbidding anonymous online posts

Grab is investing $100M to shut Uber out of fast-growing Myanmar

| August 25, 2017 | 0 Comments




 Grab is going all out to win the nascent ride-hailing market in Myanmar after it committed to investing $100 million into the Southeast Asian country over the next three years. Myanmar might just be the world’s most fascinating internet market. Internet access had been heavily restricted when the country was fully controlled by the military, but it opened up following the free elections… Read More


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Grab is investing $100M to shut Uber out of fast-growing Myanmar

Google expands its public Wi-Fi program for emerging markets to Indonesia

| August 24, 2017 | 0 Comments





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Google expands its public Wi-Fi program for emerging markets to Indonesia

Auto giant Continental buys Singapore-based Quantum Inventions for $29M

| August 21, 2017 | 0 Comments




 German automotive giant Continental is furthering its push into the future of transportation after it got its check book out to acquire Quantum Inventions, a Singapore-based company that specializes in mobility data services. The deal was announced in June with little fanfare and it is officially undisclosed, but a source told TechCrunch that it is around the SG$40 million mark —… Read More


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Auto giant Continental buys Singapore-based Quantum Inventions for $29M

Prisma shifts focus to b2b with an API for AI-powered mobile effects

| August 19, 2017 | 0 Comments




 The startup behind the Prisma style transfer app is shifting focus onto the b2b space, building tools for developers that draw on its expertise using neural networks and deep learning technology to power visual effects on mobile devices. Read More


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Prisma shifts focus to b2b with an API for AI-powered mobile effects

Uber’s new head of Asia is a former Goldman exec who once climbed Mount Everest

| August 17, 2017 | 0 Comments




 Regular run-ins with government regulators and battles with well-funded local rivals have made Asia challenging terrain for Uber. The challenge is such that it’s fitting that the U.S. ride-sharing giant has hired a man who once scaled the summit of Mount Everest to lead its business in the region. Brooks Entwistle, a former Chairman of Goldman Sachs Southeast Asia, was announced today… Read More


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Uber’s new head of Asia is a former Goldman exec who once climbed Mount Everest

Tencent posts record $2.7B profit as mobile game revenue tops PC for first time

| August 16, 2017 | 0 Comments





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Tencent posts record $2.7B profit as mobile game revenue tops PC for first time

China’s top social networks face investigation for hosting porn and illicit content

| August 11, 2017 | 0 Comments





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China’s top social networks face investigation for hosting porn and illicit content

Indian startup Flux Auto wants to democratize self-driving tech for trucks

| August 10, 2017 | 0 Comments




 A young startup in India wants to makes autonomous driving technology more widely available for truck operators, especially those outside of the U.S., by lower the cost significantly. The concept of self-driving trucks sat in the background for some time as the vision of autonomous cars ferrying consumers from A to B hogged the limelight, but the potential for trucking is at least on par if… Read More


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Indian startup Flux Auto wants to democratize self-driving tech for trucks

SoftBank’s Vision Fund backs Flipkart in record India tech investment

| August 10, 2017 | 0 Comments





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SoftBank’s Vision Fund backs Flipkart in record India tech investment

SparkLabs launches its latest accelerator program in Taipei

| August 8, 2017 | 0 Comments





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SparkLabs launches its latest accelerator program in Taipei

China’s Didi backs Uber rival Careem to expand its global footprint into the Middle East

| August 8, 2017 | 0 Comments





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China’s Didi backs Uber rival Careem to expand its global footprint into the Middle East