It’s not often that you hear many details about the limited partners that feed money into a venture capital fund, and even less so when it’s about Western money being channelled into Chinese VCs, but today comes news of how one of the more interesting funds out of China is shaping up, courtesy of a
Following the passage of a new cybersecurity law and the removal of term limits from Chinese president Xi Jinping, China’s government is conducting a comprehensive crackdown on online discussions and content, with few companies spared the rod by the central government. Among the casualties has been Bytedance, the extremely high-flying $20 billion media unicorn startup
Joanna Glasner Contributor More posts by this contributor What does it take to be a startup that raises huge sums quickly? Not a minimalist? Startups will gladly store, manage and deliver your items The global early-stage investment pie is getting bigger… a lot bigger. Just four years ago, investors were putting less than $10 billion
Grab’s plan to shutter Uber’s app quickly following its merger deal in Southeast Asia has hit another snag in Singapore where the ride-hailing firm has been forced to delay closing its rival’s service until May 7. This is the second time that Grab has pushed back the removal of Uber’s app in Singapore, which was initially
East Meet East, a New York-based matchmaking service focused on connecting Asian people in the U.S., is expanding its focus to go after dating opportunities in Asia after it raised a $4 million Series A funding round. The money comes from existing backer 500 Startups and new investors Asahi Medialab Ventures, DG Lab Fund (a joint effort
Ant Financial, the Alibaba affiliate that looks after the firm’s hugely popular Alipay service, is reportedly gearing up for an enormous funding round that could take its valuation to $100-$150 billion. The Wall Street Journal reported that Ant is in talks to raise upwards of $9 billion at the $100 billion mark, while Bloomberg suggested
Lyft, Uber’s chief nemesis in the U.S., is thinking of entering the fiercely competitive Japanese ride-hailing space, according to comments from one of its founders. “We would love to be in Japan, and we also will be looking at that possibility,” John Zimmer, Lyft co-founder and president, said at the New Economy Summit 2018 in Tokyo.
While the recent Cambridge Analytica data privacy scandal is the main focus for American lawmakers questioning Facebook’s Mark Zuckerberg today, the company’s record beyond the U.S. raises even more alarms. During the hearing, Vermont Senator Patrick Leahy brought up the company’s role in the ongoing ethnic violence in Myanmar, citing one incident where death threats
Today marks the start of Facebook CEO Mark Zuckerberg’s much-anticipated trip to Washington as he attends a hearing with the Senate, before moving on to a Congressional hearing tomorrow. Away from the U.S. political capital, Zuckerberg is engaged in serious discussions about Myanmar with a group of six civil society organizations in the country who
Grab has given the Uber app a stay of execution in yet another market as regulators across Southeast Asia continue to investigate the merger deal announced between the ride-hailing companies last month. Fresh from extending the closure date a week in Singapore, Grab has done the same in the Philippines, a spokesperson confirmed to TechCrunch.
It’s becoming common to say that Mark Zuckerberg is coming under fire, but the Facebook CEO is again being questioned, this time over a recent claim that Facebook’s internal monitoring system is able to thwart attempts to use its services to incite hatred. Speaking to Vox, Zuckerberg used the example of Myanmar, where he claimed
LG’s mobile business may be a serial loss-maker, but the rest of the Korean firm’s interests are doing pretty well… better than ever actually according to its newest earnings forecast. Like fellow countryman Samsung, LG is on course for company-record Q1 financial results. The company is predicting an operating profit of 1.1 trillion KRW ($1.03
Fans of Uber in Singapore will have a little more time to continue using the app after Grab, the rival that is acquiring Uber’s business in the region, agreed to extend the life of the app until April 15 while the country’s competition commission reviews the merger deal. Grab had originally intended to close the
Samsung has released primarily guidance for its Q1 2018 financial period and the signs are that it will be another blockbuster. The Korean tech giant’s sales in 2017 were enough to see it unseat Intel as the world’s largest chipmaker based on revenue — ending Intel’s 25-year run at the top — and, while Samsung
AI research is increasingly being used by militaries around the world for offensive and defensive applications. This past week, groups of AI researchers began to fight back against two separate programs located halfway around the world from each other, generating tough questions about just how much engineers can affect the future uses of these technologies.
Singapore-based smart lock maker Igloohome has closed a $4 million Series A round. The investment was led by Insignia Ventures, the new firm started by ex-Sequoia venture partner Yinglan Tan. Phillip Private Equity, X Capital Ventures, K3 Venture’s Kuok Meng Xiong, angel investor Koh Boon Hwee, and existing backer Wavemaker Partners also took part. The company is
Australia’s privacy watchdog has opened an investigation into Facebook in the wake of the Cambridge Analytica data misuse scandal. Yesterday Facebook revealed that more users than previously thought could have had their personal information passed to the company back in 2014 — saying as many as 87 million Facebook users could have had their data “improperly
Many will rightly say that raising money as a startup in Southeast Asia is no easy thing, but up-and-coming online fashion service Zilingo sure doesn’t seem to have problems on that front. Fresh from raising an $18 million Series B round last September, Zilingo has announced its $54 million Series C to take it to
War! The Trump administration announced late last night its next daring attack on China’s unfair trade practices, and it has gone straight for the jugular, announcing that it is putting tariffs on about 1330 goods including “Parts for air conditioning machines” and “Bakery ovens, including biscuit ovens.” Including biscuit ovens! Without the heat emanating from
Amid plenty of speculation, China’s ride-hailing leader Didi Chuxing has officially entered the food delivery space. The company, which acquired Uber’s China-based business in 2016, confirmed today it is running a pilot food delivery service in Wuxi, a city in southern Jiangsu province, with a view to expanding further. The service began on April 1, and Didi
For those who live under a rock (which, these days, I would recommend), President Donald Trump has become increasingly belligerent toward Amazon and its founder, Jeff Bezos. In addition to a sequence of tweets against the e-commerce and cloud giant, Gabriel Sherman reported in Vanity Fair yesterday that “Now, according to four sources close to
South Korea has been at the forefront of the blockchain movement, with some of the highest density of cryptocurrency traders anywhere in the world. Now, as the frenzy around cryptocurrency prices recedes (Bitcoin is around $7350 right now, down from a high of almost $20,000 last December), the country is starting to consider the more
Singapore’s competition agency last week opened an investigation into Grab’s acquisition of Uber’s Southeast Asia, and now authorities in the Philippines and Malaysia are following suit by looking closely at the deal. From The Philippines Competition Commission: The Grab-Uber acquisition is likely to have a far reaching impact on the riding public and the transportation
Singapore has fined two Airbnb hosts who broke the country’s rules on apartment rentals. In a first for the country, two men were fined SG$60,000 (US$45,800) each for unauthorized lettings at four apartments using the U.S.-based rental platform, Reuters reports. Singapore’s law prevents public housing rentals that are under six months — or three months in