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asia News of 01/21/20
Uber Sells Food Delivery Business In India To Zomato
Uber said on Tuesday it has sold its food delivery business, UberEats, in India to local rival Zomato as the American ride-hailing giant continues to shed lossmaking operations and become profitable by next year. As part of the deal, Uber would ...
Google Takes On AWS And Azure In India With Airtel Cloud Deal
Google has inked a deal with India’s third-largest telecom operator as the American giant looks to grow its cloud customer base in the key overseas market that is increasingly emerging as a new cloud battleground for AWS and Microsoft . ...
Catalyst Fund Gets $15m From JP Morgan, UK Aid To Back 30 EM Fintech Startups
The Catalyst Fund has gained $15 million in new support from JP Morgan and UK Aid and will back 30 fintech startups in Africa, Asia, and Latin America over the next three years. The Boston based accelerator provides mentorship and non-equity funding ...
Samsung Invests $500m To Set Up A Smartphone Display Plant In India
Samsung, which once led India’s smartphone market , is investing $500 million in its India operations to set up a manufacturing plant at the outskirts of New Delhi to produce displays. The company disclosed the investment and its plan in a filing ...
China Roundup: Tencent’S New US Gaming Studio And WeChat’S New Paywall
Hello and welcome back to TechCrunch’s China Roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people in the rest of the world. The spotlight this week is back on Tencent, which has made some ...
Taiwan’S Entrepreneurs Move Forward After Tense Presidential Election
Last Saturday, Taiwanese voters re-elected President Tsai Ing-wen to her second term after an election that split the country among generational and ideological lines . A crucial issue were the differences in how Tsai, a member of the Democratic ...
Amazon Partners With Thousands Of Mom-And-Pop Stores In India
Neighborhood stores dot tens of thousands of cities, towns and villages in India. They have survived — and thrived, despite — retail giants’ billions of investment in the country. So now, Amazon is beginning to embrace them. Amazon ...
Chinese Podcasting And Audio Content App Lizhi Debuts On Nasdaq
Lizhi , one of China’s biggest audio content apps, is debuting on Nasdaq today under the ticker symbol LIZI. It is the first of its major competitors, Ximalaya and Dragonfly, to go public (though Ximalaya is expected to also list in the United ...
Caregiving Startup Homage Raises $10 Million Series B To Enter New Asian Markets
In many countries, an aging population coupled with a low birth rate is increasing the demand for qualified caregivers. In Asia, the need is especially urgent because rapid demographic shifts and changing social structures means family members who ...
Xiaomi Spins Off POCO As An Independent Company
Xiaomi said today it is spinning off POCO, a sub-smartphone brand it created in 2018 , as a standalone company that will now run independently of the Chinese electronics giant and make its own market strategy. The move comes months after a top ...
What We Know (And Don’T) About Goldman Sachs’ Africa VC Investing
Goldman Sachs is investing in African tech companies. The venerable American investment bank and financial services firm has backed startups from Kenya to Nigeria and taken a significant stake in e-commerce venture Jumia, which listed on the ...
Venture Highway Announces $78.6m Second Fund To Invest In Early-Stage Startups In India
Venture Highway , a VC firm in India founded by former Google executive Samir Sood, said on Thursday it has raised $78.6 million for its second fund as it looks to double down on investing in early-stage startups. The firm, founded in 2015, has ...
Amazon’S Fresh $1b Investment In India Is Not A Big Favor, Says India Trade Minister
India’s trade minister isn’t impressed with Amazon’s new $1 billion investment in the country. A day after Amazon chief executive Jeff Bezos announced that his company is pumping in an additional $1 billion into its India operations, ...
Felix Capital Closes $300m Fund To Double Down On DTC, Break Into Fintech And Make Late-Stage Deals
To kick off 2020, one of Europe’s newer — and more successful — investment firms has closed a fresh, oversubscribed fund, one sign that VC in the region will continue to run strong in the year ahead after startups across Europe ...
Amazon To Invest $1 Billion To Digitize Small Businesses In India
India welcomed Jeff Bezos this week with an antitrust probe . On top of that, thousands of small merchants who typically compete with one another are gathering in the capital city New Delhi to hold a protest against the alleged predatory practices ...
Spotify And Warner Chappell End Dispute In India, Sign Global Licensing Deal
Spotify is ending its year-long dispute with Warner Music. The world’s largest music streaming service said on Tuesday that it has inked a global licensing agreement with Warner Music Group’s Warner Chappell. The announcement today marks ...
India Orders Investigation Into Alleged Anti-Competitive Practices By Amazon And Walmart’S Flipkart
India ordered a large-scale investigation into Flipkart and Amazon India on Monday after a retail trade group alleged that the e-commerce giants were indulging in anti-competitive practices to gain foothold in the country. Competition Commission of ...
Former Google Pay Execs Raise $13.2m To Build Neo-Banking Platform For Millennials In India
Two co-founders of Google Pay in India are building a neo-banking platform in the country — and they have already secured backing from three top VC funds. Sujith Narayanan, a veteran payments executive who co-founded Google Pay in India ...
Cross-Border Investments Aren’T Dead, They’Re Getting Smarter
Yohei Nakajima Contributor Share on Twitter Yohei Nakajima is an investor at Scrum Ventures , an early-stage venture capital fund based in San Francisco, and Senior Vice President at Scrum Studio, ...
India’S Top Court Rules Indefinite Internet Shutdown In Kashmir Unwarranted And Amount To Abuse Of Power
India’s top court ruled on Friday that the indefinite shutdown of the internet in Kashmir was unwarranted and demonstrated “abuse of power” by the Prime Minister Narendra Modi -led government. India cut internet access in Kashmir in ...
