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Funding Bytes: Daily tech funding news updates, June/1
Welcome to our daily compilation of tech funding news in Asia. We’ll be updating this post as news comes in, so watch this space Klook Travel completes US$1.5M investment round led by Tencent Exec Hong...
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Alibaba’s online bank locks in funding; now valued over US$45 billion
With this, Ant Financial not only goes head-to-head with rivals Tencent and Juneyao Group, but also state-owned banks Earlier in 2014, Ant Financial, the online payments affiliate of e-commerce giant...
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Practo raises US$90M in Series C funding led by Tencent
Funds to help Practo expand product line and continue to look for potential acquisition of companies Shashank ND, Founder & CEO, Practo Asian healthcare platform Practo today announced that it has...
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Tencent-backed WeBank rolls out bare bones app
The app’s features are similar to the existing WeChat payment services, is more of a financial platform for now WeBank, China’s first online-only private bank backed by Internet behemoth Tencent,...
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China’s Tencent invests US$50M in Canadian messaging app Kik
On its way to becoming the ‘WeChat of the West’, the funding puts Kik in unicorn territory with US$120.5 million valuation Canadian messaging app Kik announced today that it has received US$50 million...
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Uber China raises US$1B from Baidu, Hillhouse, others
Earlier reports suggested that China’s state-run CITIC bank was planning an investment of US$100 million between Uber Global and Uber China The Chinese arm of mobile-based taxi-hailing giant Uber has...
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Chinese oil companies come online with Internet Plus Policy
Chinese oil companies are jumping on the digital bandwagon to accelerate and improve their business models China’s Internet Plus government initiative has ignited a steady state-led push to bring some...
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Tencent to pump US$1.57B into international cloud computing effort
The investment follows similar expansion efforts by other Chinese Internet giants – Alibaba and Baidu – as they prepare to take on world leaders Microsoft and Amazon in cloud computing Tencent has...
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Practo acquires appointment-booking platform Qikwell
The online doctor booking startup claims the acquisition, its fourth in five months, makes it the largest healthcare appointment booking platform globally L-R: Raghavendra Prasad, Co-Founder & CPO,...
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China healthcare startup Guahao completes US$394M funding round
The booking and health service portal is backed by Hillhouse Capital, Goldman Sachs and others; will change its name to We Doctor Photo credit: Yuangeng Zhang / Shutterstock.com There’s a healthcare...
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Apple enters China’s music streaming services space
Priced at just US$1.57 a month, Apple Music will mainly compete with Tencent and Baidu in this space Photo Credit: Shutterstock, Solntca Apple’s music streaming service Apple Music has launched in...
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Kakao partners Tencent and eBay to bid for online banking license
The foray into online banking will allow messaging app Kakao a tighter grip on its user base in South Korea South Korean tech conglomerate Kakao, most well-known for its eponymous flagship messenger...
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WeChat launches new heat map that calculates foot traffic
The real-time foot traffic heat map allows you to see the density of the people in an area in China, ranging from sparse (green) to dense (red) Are you on a holiday in China but want to avoid crowds?...
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From Archives: Move over China. India takes centre stage for VCs
India is clearly the hotbed for startups — evident from the flocking of large VC funds Tiger Global, Sequoia Capital and DST Global in the recent past Editor’s Note: Here’s a story from our archives we...
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Student micro-loan startup Fenqile in investment talks with Tencent
The potential investment sets the stage for yet another Alibaba-Tencent showdown Fenqile, one of China’s leading student micro-loan startups, is in talks with Tencent hoping to seal the next round of...
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China’s Dianping and Meituan launching O2O services to take on Baidu
Dianping is a restaurant review app backed by Tencent, while Meituan is an online deals startup backed by Alibaba Tencent-backed Chinese restaurant review app Dianping has partnered with...
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Retail therapy: Cashing in on China’s Singles Day
Big time e-commerce stores and minnows from across China, Singapore and Japan prepare to make bank come November 11 Image Credit: Taobao.com One may be the loneliest number, but, in China, the...
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Tencent looks to invest US$1 billion in Meituan-Dianping
In June 2015, Tencent’s rival Baidu claimed it will invest US$3 billion in Nuomi, a service that competes in the same market as Meituan-Dianping Less than a month after two of China’s largest on-demand...
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Baidu looking to buy Indian coupons venture Mydala for US$100M: Report
Info Edge-backed Mydala operates in 200 cities and claims it sells about 220,000 deals everyday From L to R: Arjun Basu (CFO), Anisha Singh (CEO) and Ashish Bhatnagar (CTO) Chinese Internet giant Baidu...
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Tencent rides out economy woes with growth in mobile games and ads
Moving forward, Tencent is hoping to build up its gamer community to help boost smartphone engagement Tencent has posted a record 32 per cent profit gain in the third quarter bolstered by mobile games...
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