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asia News of 07/03/20
India’S Richest Man Takes On Zoom
India’s Reliance Jio Platforms, which recently concluded a $15.2 billion fundraise run , is ready to enter a new business: Video conferencing. On Thursday evening, the firm — backed by Mukesh Ambani, India’s richest man — ...
Growth Capital Investor Kennet Raises $250m Fund, Backed By Edmond De Rothschild
Venture capital is “not the only fruit” for entrepreneurs, as the often quieter ‘ Growth Capital ’ can also see great returns for entrepreneurs who prefer to retain a lot of ownership and control but are also willing to bootstrap over a longer ...
Meet BukuWarung, The Bookkeeping App Built For Indonesia’S 60 Million “Micro-Merchants”
In Indonesia, there are about 60 million “micro-merchants,” typically small store owners who sell food and other staple items, and have close relationships with their customers. Many often extend informal lines of credit to shoppers, but ...
Zetwerk, An Indian b2b Marketplace For Manufacturing Items, Raises $21 Million
Zetwerk, an Indian business-to-business marketplace for manufacturing items, has raised $21 million in a new financing round as it looks to scale its operations in the nation and help local businesses find customers overseas. San Francisco-based ...
Apple And Google Block Dozens Of Chinese Apps In India
Two days after India blocked 59 apps developed by Chinese firms , Google and Apple have started to comply with New Delhi’s order and are preventing users in the world’s second largest internet market from accessing those apps. UC ...
Facebook Is Shutting Down Lasso, Its TikTok Clone
Facebook is no longer betting on Lasso, an app it launched a year and a half ago, to take on TikTok . The social juggernaut’s TikTok clone is shutting down on July 10, Lasso alerted users on Wednesday. Launched in late 2018 , Lasso was ...
TikTok Is Engaging With India Over Ban And Already Complies With Local Privacy And Security Requirements, CEO Says
Kevin Mayer, the chief executive of TikTok said on Wednesday that the popular short-form video app complies with “all data privacy and security requirements under Indian law,” two days after New Delhi banned 59 apps including Mayer’s citing ...
After Grinding Investigation, Luckin Coffee Confirms $300 Million Revenue Fraud
Luckin Coffee’s drips and drops of news the past few weeks — including a boardroom feud that is pitting the company’s chairman against a special investigation committee looking into an alleged massive fraud — is now turning into a flood. ...
Beyond Burger Arrives In Alibaba’S Grocery Stores In China
Beyond Meat is starting to hit supermarket shelves in China after it first entered the country in April by supplying Starbucks’ plant-based menu. Within weeks, it had also forayed into select KFC, Taco Bell, and Pizza Hut outlets — ...
TikTok Goes Down In India, Its Biggest Overseas Market
A growing number of internet service providers in India have started to block their subscribers from accessing TikTok a day after New Delhi banned the popular short-video app and 58 other services in the world’s second largest internet ...
Daimler-Backed Momenta Says Its Robotaxis Will Be Fully Driverless And Profitable In 2024
In China and the U.S., there’s much debate about when and how humans will achieve fully autonomous robotaxis at scale — cars that chauffeur passengers under complex road conditions without safety drivers behind the wheel. Many pieces are ...
Facebook Launches Avatars, Its Bitmoji Competitor, In India
Facebook Avatars, which lets users customize a virtual lookalike of themselves for use as stickers in chat and comments, is now available in India, the social juggernaut’s biggest market by users account. The American firm said Tuesday it ...
Indian Ride-Hailing Giant Ola Adds Tipping Option To Its App Globally
You can now tip your Ola driver. The Indian ride-hailing giant said on Tuesday that it has rolled out this feature to its users in India, Australia, New Zealand, and the United Kingdom — all the nations where it currently operates. Ola said ...
U.S. Suspends Export Of Sensitive Tech To Hong Kong As China Passes New National Security Law
The United States government began measures today to end its special status with Hong Kong, one month after Secretary of State Michael Pompeo told Congress that Hong Kong should no longer be considered autonomous from China. These include suspending ...
India Bans TikTok, Dozens Of Other Chinese Apps
The Indian government on Monday evening said it was banning 59 apps developed by Chinese firms over concerns that these apps were “engaged in activities which is prejudicial to sovereignty and integrity of India, defence of India, and security ...
Amazon Eliminates Single-Use Plastic In Packaging In India
Amazon said on Monday it has eliminated all single-use plastic in its packaging across its fulfillment centers in India, delivering on a pledge it made last year to achieve this goal by June. The American e-commerce group said it had replaced ...
Chinese Online Learning App Zuoyebang Raises $750m
Zuoyebang, a Beijing-headquartered startup that runs an online learning app , said on Monday it has raised $750 million in a new financing round as investors demonstrate their continued trust in — and focus on — Asia’s booming edtech ...
Indian Startups Diversify Their Businesses To Offset COVID-19 Induced Losses
E-commerce giant Flipkart is planning to launch a hyperlocal service that would enable customers to buy items from local stores and have those delivered to them in an hour and a half or less. Yatra, an online travel and hotel ticketing service, ...
Luckin Coffee’S Board Is Forcing Out Its Chairman (Also, Chairman Is Forcing Out The Rest Of The Board)
Sometimes you can’t just get a [L]uckin’ break. After announcing this morning that it is ending its fight to stay listed on Nasdaq , China-based coffee chain and delivery company Luckin Coffee announced that it is requiring that its chairman, ...
Indian Edtech Giant Byju’S In Talks To Acquire Doubtnut For More Than $125m
Byju’s is in advanced stages of talks to acquire Doubtnut, a two-year-old education learning app, as the Indian edtech giant looks to expand its reach in smaller cities and towns in the world’s second largest internet market. Three sources ...
