Wednesday, February 20, 2019

It isn’t just apps. China’s cinemas broke records during Lunar New Year – TechCrunch

China celebrated Lunar New Year last week as hundreds of millions of people travelled to their hometowns. While many had longed to see their separated loved ones, others dreaded the...

E-commerce startup Zilingo raises $226M to digitize Asia’s fashion supply chain – TechCrunch

If you’re looking for the next unicorn in Southeast Asia, Zilingo might just be it. The 3.5-year-old e-commerce company announced today that it has raised a Series D round...

Xiaomi-backed electric toothbrush Soocas raises $30 million Series C – TechCrunch

China’s Soocas continues to jostle with global toothbrush giants as it raises 200 million yuan ($30 million) in a series C funding round. The Shenzhen-based oral care manufacturer has secured the...

First China, now Starbucks gets an ambitious VC-funded rival in Indonesia – TechCrunch

Asia’s venture capital-backed startups are gunning for Starbucks . In China, the U.S. coffee giant is being pushed by Luckin Coffee, a $2.2 billion challenger surfing China’s on-demand wave, and on...

Alibaba’s growth slows to lowest in 3 years – TechCrunch

China’s Alibaba continues to see slowing expansion in the latest quarter, but the e-commerce giant’s effort to spur new growth from new arenas have started to bear fruit. The Hangzhou-based firm...

Go-Jek makes first close of $2 billion round at $9.5 billion valuation – TechCrunch

Southeast Asia-based ride-sharing firm Go-Jek is making progress with its plan to raise up to $2 billion in fresh capital to fund its battle with close rival Grab. Indonesia-headquartered Go-Jek ...

Indonesian e-commerce unicorn Bukalapak raises $50M – TechCrunch

The chances are you may be familiar with Tokopedia, especially after it commanded a $7 billion valuation last November when it raised $1.1 billion from investors like Alibaba and SoftBank’s...

New policy puts revenue squeeze on China’s payments giants – TechCrunch

The era that saw China’s mobile payments providers making handsome interest returns on client money has officially ended. Starting this week, non-bank payments companies must place 100 percent of their customer...

China’s Luckin sets sights on rivaling Starbucks – TechCrunch

A one-year-old Chinese startup called Luckin is busy waging war against Starbucks as the new year unfolds. At an event on Thursday, Luckin announced that it aims to be...

Alibaba just gave Chinese youth another reason to never leave their desk – TechCrunch

People in China have a host of reasons not to go outdoors these days. They may be too busy to leave their office, wary of air pollution or have chosen...