Done betting, Alibaba is getting down to work in Southeast Asia as it bids to lead the region’s promising e-commerce space and maximize its early mover advantage over Amazon. Alibaba became the first major international player to enter Southeast Asia, a region with more than 600 million cumulative consumers, when it bought a majority stake in Lazada, the Rocket Internet-backed… Read More
Earlier this month, we reported that China-based photo app firm Kuaishou is gearing up for an IPO in the U.S. later this year. Well the company, which also offers live-streaming video in its service, has stopped to refuel its tanks first after it raised $350 million in fresh funding led by Chinese internet giant Tencent. Tencent, Asia’s highest valued tech company, confirmed to… Read More
Singapore-based auto classifieds Carro has a double whammy of news today — it has moved into the vehicle financing space and raised $12 million more from investors. Carro was founded in late 2015 and it went on to close $5.3 million in seed financing last summer. CEO Aaron Tan, a former investor with Singtel himself, said the lead investor’s identity is not being disclosed for… Read More
The News Lens, an online journalism startup that aims to be the voice of reason in Asia’s raucous media landscape, will focus on creating more original video content after landing a Series B round. The startup hasn’t disclosed the exact amount, but says it is in the range of $2 million to $3 million. Read More
Amazon has postponed its much-anticipated entry into Southeast Asia. The company initially planned to launch local e-commerce services in Singapore during the first quarter of this year, as we reported in November, but two sources with knowledge of the plans told TechCrunch that the schedule has slipped to “later this year”.
Amazon did not respond to multiple requests for… Read More
BlackBuck, a startup that is digitizing logistics and cross-country freighting in India, has closed out a $70 million Series C round. The deal is led by new investor Sands Capital, with participation from World Bank’s IFC and existing investors Accel, and e-commerce giant Flipkart. BlackBuck had previously raised $30 million, including a $20 million Series B in 2015. Yuri… Read More
Netmarble, one of the world’s top mobile and PC gaming firms, has filed to raise as much as $2.35 billion (2.66 trillion won) through an IPO in its native Korea. The firm said in a filing [in Korean] that it will issue 16,953,612 new shares priced between 121,000-157,000 KRW each (that’s approximately $108-$140) with a view to raising up to 2.66 trillion won ($2.35 billion).… Read More
Vodafone India has confirmed that it has reached an agreement to acquire rival Idea Cellular. The deal, which is being painted as a merger, will create India’s largest operator with some 377 million customers. The company revealed it was in talks with Idea Cellular over a deal in January, and the coming-together was announced today. Subject to the relevant approvals, it is expected… Read More
Regional media startup Tech In Asia is close to raising as much as $6 million in new funding, three sources with knowledge of the round told TechCrunch.
Singapore-based Tech In Asia’s most recent raise was a $4 million Series C that closed in June 2015, previous funding prior to that was undisclosed. The site was one of the first to cover tech and startup news across Asia since its… Read More
China has blocked one of the few Western social media sites that had remained accessible to its population: Pinterest. The site has followed the example of Facebook, Twitter and many others after the photo sharing site was blocked in China, according to data from censorship monitoring organization GreatFire. GreatFire checks a range of the internet’s top websites for accessibility… Read More