Asia

Alibaba is investing big bucks into offline distribution. The Chinese e-commerce giant has forked out $2.23 billion in exchange for a sizeable piece of Focus Media, a Shanghai-based company that operates outdoor digital advertising screens across China, Singapore and Hong Kong, according to a U.S. filing. The deal itself is broken up into a few pieces. Alibaba itself
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Days after raising $500 million via a strategic investment from travel giant Booking Holdings, Chinese ride-hailing giant Didi Chuxing has continued its international push with the launch of a local business in Japan. Its new Japan-based unit is a joint venture with SoftBank, a longtime Didi investor, which has been in the works since an announcement back
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Didi Chuxing, China’s largest ride-hailing company, has pulled in some strategic capital after Booking Holdings invested $500 million into its business. The deal will see Booking Holdings — which was formerly known as Priceline — work closely with Didi to offer its on-demand car services through its Booking.com apps via an integration. Likewise, Didi customers
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Logistics on-demand service GoGoVan became Hong Kong’s first billion-dollar startup via a merger last year, and now is doubling down on growth after raising $250 million in new capital. The new round was led by InnoVision Capital, with participation from the Russia-China Investment Fund, Hongrun Capital and Qianhai Fund of Funds. Two other notable investors include
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Southeast Asia’s digital economy is tipped to grow more than six-fold to reach more than $200 billion per year, according to a report co-authored by Google, with e-commerce accounting for the dominant share. The emergence of e-commerce platforms like Alibaba’s Lazada and U.S.-listed Shopee have enabled online entrepreneurship across the region, but still financial support for
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Tesla has reached a deal with the Shanghai government to build a factory capable of producing 500,000 electric vehicles a year. The factory would be the automaker’s second assembly plant and aimed at serving the alluring Chinese market. Tesla and the Shanghai Municipal People’s Government announced Tuesday they had signed the cooperative agreement. Tesla announced
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Grab may have bought itself a dominant position in Southeast Asia through its acquisition of Uber’s regional business, but the company still believes there’s competition in the ride-hailing space despite what consumers may feel. But Grab customers aren’t alone in feeling that the Grab-Uber deal is detrimental, the Competition and Consumer Commission Singapore (CCCS) last
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Grab is shrugging off the threat that Singapore might undo its acquisition of Uber’s Southeast Asia business after the ride-hailing firm announced a new strategy to become Southeast Asia’s one-stop “super app.” The Competition and Consumer Commission Singapore (CCCS) last week said it may levy a fine or unwind the Uber-Grab deal but today Singapore-based Grab announced a
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