Asia

Warnings that Tencent, Asia’s highest-valued tech company, might suffer a rare poor quarter of business proved unwarranted after the company smashed analyst expectations for its latest earnings thanks to its fast-growing mobile games business. The company reported a net profit of 23.29 billion CNY ($3.7 billion) on revenue of 73.53 billion yuan ($11.5 billion) — beating a Thomson
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In reaction to criticism around the use of Messenger in some countries worldwide, particularly Myanmar, Facebook has introduced new tools that it allow users of the app to report conversations that violate its community standards. A new tab inside the Messenger app lets users flag messages under a range of categories that include harassment, hate
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Carro, an automotive classifieds service and car financing startup based in Singapore, has closed a $60 million Series B round to scale its business in Southeast Asia. The deal was co-led by SoftBank Ventures Korea, Insignia Ventures — the firm from ex-Sequoia Asia partner Yinglan Tan — and Facebook co-founder Eduardo Saverin’s B Capital Group.
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In a remarkable development, President Trump has thrown an olive branch to controversial Chinese telecom firm ZTE . The company, which sells telcom network equipment and consumer devices including smartphones, said on Wednesday that it would cease its main business operations after the U.S. Department of Commerce announced a seven-year export restriction for the company, resulting in
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As India’s internet access continues to surge among the billion-plus population, data is becoming the new oil. Whether online commerce, ride-hailing, mobile payments and banking, or more, someone needs to verify that people are who, and what, they say they are. That’s an opportunity where HelloVerify, a verification and background screening startup that recently graduated Y Combinator
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Walmart, the world’s largest retailer, has finally confirmed that it is making a $16 billion investment into Flipkart for a 77 percent share of the online retailer. Tencent, Tiger Global, Microsoft and Flipkart co-founder Binny Bansal will continue to be investors in the company with this deal. The investment will value Flipkart — India’s biggest online
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Singapore-based e-commerce startup ShopBack came on the radar when it raised $25 million last November, and now the company is making its first acquisition. ShopBack said today it has picked up Seedly, a fellow Singaporean startup that offers a personal finance service, in an undisclosed deal. The entire team will move over and Seedly will continue as
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Alibaba is forecasting yet more growth for its business after it beat analyst forecasts with its fourth-quarter results. Revenue came in at 61.9 billion RMB ($9.9 billion), an increase of 61 percent year-over-year, which topped a 59.6 billion RMB prediction from analysts polled by S&P Global Market Intelligence. The company’s net income for the quarter did
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Changpeng Zhao, CEO of Binance — the world’s largest crypto exchange — is the newest addition who will join us for TC Sessions: Blockchain, TechCrunch’s first event dedicated to blockchain technology, which takes place July 6 in Zug, Switzerland. The event will bring together the startup/business world and blockchain community to explore the potential of the blockchain,
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Walmart’s strategy to get itself fighting fit against Amazon saw one more development today. This morning, UK supermarket chain Sainsbury’s announced a deal with Walmart to buy a majority stake in Asda, Walmart’s wholly-owned UK subsidiary. The deal values Asda at £7.3 billion ($10 billion), and if it closes will net Walmart £2.975 billion ($4
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