Asia

The latest innovative tech coming out of Asia

  • AppLovin scraps acquisition and takes debt financing instead

    AppLovin scraps acquisition and takes debt financing instead

    The story of AppLovin‘s acquisition has taken another turn. We first reported that the mobile ad startup was in acquisition talks in August of last year, and the announcement came a month later: AppLovin would sell a majority stake Chinese private equity firm Orient Hontai Capital. Today, however, CEO Adam Foroughi revealed that the deal is (sort of) off. Instead of an outright… Read More

  • Baidu and electric vehicle startup NIO lead $195M investment in Chinese limo booking app

    Baidu and electric vehicle startup NIO lead $195M investment in Chinese limo booking app

    Chinese internet giant Baidu is continuing its push into the automotive space after it led a RMB 1.3 billion ($195 million) Series B investment in Shouqi Limousine & Chauffeur, an offshoot of the state-owned Shouqi Group which was Beijing’s first licensed ride-hailing app. NIO Capital, the investment arm of billion-dollar electric car startup NIO, and Silk Road Huachuang joined… Read More

  • Japanese pawn shop app Cash acquired for $62.2M by DMM

    Japanese pawn shop app Cash acquired for $62.2M by DMM

    DMM, one of Japan’s largest Internet and e-commerce conglomerates, announced today that it will pay 7 billion yen (about $62.2 million) for pawn shop app Cash. Launched this summer, Cash’s software automatically appraises an item’s value based on user photos and offers a cash advance using it as collateral. Read More

  • Tencent becomes the first Chinese tech firm valued over $500B

    Tencent becomes the first Chinese tech firm valued over $500B

    Tencent has become the first Chinese company to be valued at more than $500 billion. Shares of the 19-year-old company, which is listed on the Hong Kong Stock Exchange, rallied to reach HK$418.80 to give it a market cap of HK$3.99 trillion which takes past the $500 billion mark. Close rival Alibaba is Asia’s second-highest-valued firm at $474 billion. Entry to the… Read More

  • Tech In Asia raises $6.6M led by Korean conglomerate Hanwha

    Tech In Asia raises $6.6M led by Korean conglomerate Hanwha

    Tech In Asia, the Singapore-based media and events startup, has closed $6.6 million in fresh funding. The lead investor is a name that may not be too familiar to regular readers (yet) and that’s Hanwha Investment and Securities. The fund is an affiliate of Hanwha, a Korean conglomerate which started out in explosives in 1952 but has since expanded into a range of verticals including (now)… Read More

  • Last chance to get your tickets for TechCrunch China in Shanghai November 27-28

    Last chance to get your tickets for TechCrunch China in Shanghai November 27-28

    TechCrunch is excited to be returning to China this month! Fresh from the success of our first event in Shenzhen in June, we’ll be back in more familiar surroundings for the TechCrunch China event in Shanghai from November 27-28. The theme of the event is ‘The New Beginning,’ and we’ll be looking at a host of topics from electric vehicles and live-streaming… Read More

  • Southeast Asia’s aCommerce lands $65M led by KKR-backed Emerald Media

    Southeast Asia’s aCommerce lands $65M led by KKR-backed Emerald Media

    Southeast Asia-based aCommerce, a startup that helps brands get into e-commerce and digital media in the fast-growing region, has pulled in $65 million in new funding led by Emerald Media, an Asian firm backed by global investor KKR. The Series B deal takes Bangkok-based aCommerce to $94 million raised to date. Existing backers Blue Sky, MDI Ventures and Switzerland-based DKSH also took… Read More

  • Alibaba invests $2.9B in hypermarket operator Sun Art to continue its offline retail push

    Alibaba invests $2.9B in hypermarket operator Sun Art to continue its offline retail push

    Alibaba is continuing its expansion into offline retail after the Chinese e-commerce giant bought up more than one-third of one of Chinese most prolific operators of hypermarket stores. The firm announced today it has spent HK$22.4 billion (around US$2.88 billion) to acquire of 36.16 percent in Sun Art Retail Group, a Hong Kong-listed business that operates 446 hypermarkets across 224… Read More

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