Category Archives: Asia

Razer makes virtual currency push with $20M investment in Asian payment firm

 Razer has invested close to $20 million into Malaysia-based online payment firm MOL Global as part of a push to establish its virtual currency for gamers in Asia. The deal sees Razer subsidiary ZV-Midas buy equity from existing backers MOL Investment and Hotel Resort Enterprise in a deal that values the MOL Global business at around the $100 million mark. Gaming company Razer, which made… Read More

China clamps down on live-streaming services

 The Chinese government has cracked down on three of the country’s top live-streaming services over their apparent broadcast of unsuitable political content. Weibo, the Nasdaq-listed microblogging site, disclosed that it had received a notice from The State Administration of Press, Publication, Radio, Film and Television of the People’s Republic of China (‘SAPPRFT’)… Read More

Crunch Report | Apple Rolls Out Early Version Of Its Safe Driving Feature

Crunch Report June 22 Today’s Stories  Do Not Disturb While Driving feature rolls out in Apple’s newest iOS 11 beta Sean Parker has left Spotify’s board; Padmasree Warrior, Thomas Staggs join in lead up to IPO Trump might kill next month’s new startup visa before it takes effect Facebook is testing a feature to prevent profile pictures being abused by other users Tantan, China’s… Read More

JD.com invests $397M into luxury marketplace Farfetch as part of a new strategic partnership

 JD.com, China’s second-largest e-commerce company after Alibaba, is pumping $397 million into Farfetch, a marketplace for luxury brands, as part of a new strategic partnership. JD.com founder and CEO Richard Liu will take a seat on Farfetch’s board as part of the deal, which makes JD.com one of its largest shareholders. Read More

Tantan, China’s top dating app, raises $70M for monetization and overseas expansion push

 Chinese startup Tantan, which is probably most comparable to Tinder, has raised $70 million in new capital as it looks to monetize its business for the first time and explore overseas expansion options. Three-year-old Tantan claims 60 million ‘validated’ users — i.e. not fake accounts — of which six million are active on a daily basis. Of those active users, 75 percent… Read More

Mercari hires John Lagerling from Facebook’s management team to guide its U.S. strategy

 When Mercari became Japan’s first startup unicorn with a $75 million round last year, the funding was earmarked to fuel its goal of becoming the top secondhand marketplace app in the U.S. Now Mercari is doubling down on its efforts to succeed where no other Asian e-commerce company has. Today it launched a refreshed version of its American app and announced the hiring of John Lagerling… Read More

Regulation could stifle growing China-US venture activity

 Let’s step back from politics and look at some cold, hard numbers to assess the current state of cross-border investment and other transactional activity between the U.S. and China. We’ll look at one type of transaction that could be affected: venture capital investments. We’ll show the “big picture,” as well as analysis of transactions in AI and related sectors. Read More

China’s Mobike plans move into services and aggressive international expansion

 Mobike, the Chinese bike-sharing company that raised $600 million last week, has lifted the lid on its plans to expand beyond rides and move into services. The Beijing-based company announced last week that it plans to expand to reach 200 cities before the end of the year, many of which are expected to be outside of China. But, as if that ambitious target wasn’t enough, the company is… Read More

‘All roads do lead back to Shenzhen,’ according to Indiegogo’s Sandy Diao

 Shenzhen has been called China’s Silicon Valley (or at least one of its Silicon Valleys). A panel on hardware startups at TechCrunch Shenzhen took a stab at explaining why. “There’s a new startup model coming out of Shenzhen,” said Eli Harris, whose startup Ecoflow is building the River Mobile Power Station. The city’s history as “the land of OEM… Read More

Hike beats WhatsApp to launching messenger app payments in India

 India-focused mobile messaging service Hike landed funding from Tencent last year, and today it took a major step to emulating the Chinese firm’s WeChat app with the introduction of mobile payments. The launch of Hike Pay not only shows an ambition to build a messaging platform, it also means Hike has beaten WhatsApp, the chat app that dominates India, to the punch. Facebook-owned… Read More