Southeast Asia

  • Indonesian Uber rival Go-Jek closes in on new $1.2 billion round

    Indonesian Uber rival Go-Jek closes in on new $1.2 billion round

    Go-Jek, the on-demand transportation company that rivals Uber and Grab in Indonesia, is getting close to pulling in its next huge funding round. That’s because JD.com, the China-based e-commerce firm that rivals Alibaba, has agreed to join Go-Jek’s upcoming $1.2 billion round, a source with knowledge of discussions told TechCrunch. The news was first reported by The… Read More

  • This startup is bringing Alipay-style QR code payments to Indonesia

    This startup is bringing Alipay-style QR code payments to Indonesia

    The growth of digital payments and banking in China, where it has become mainstream and spawned numerous on-demand industries, is inspiring companies to pursue similar opportunities across. Indonesia, the world’s fourth largest population and Southeast Asia’s largest economy is a primary focus for many. Beyond bigger players such as Alibaba, which has a joint fintech venture… Read More

  • Alibaba leads $1.1B investment in Indonesia-based e-commerce firm Tokopedia

    Alibaba leads $1.1B investment in Indonesia-based e-commerce firm Tokopedia

    Alibaba has continued its push into Southeast Asia after it led a $1.1 billion investment in Tokopedia, an e-commerce firm based in Indonesia. A valuation for the deal was not announced, but the companies did say that Alibaba has become a minority shareholder. Tokopedia, which was founded in 2009, operates a marketplace that allows small retailers and large brands to sell to consumers in… Read More

  • Uber’s new head of Asia is a former Goldman exec who once climbed Mount Everest

    Uber’s new head of Asia is a former Goldman exec who once climbed Mount Everest

    Regular run-ins with government regulators and battles with well-funded local rivals have made Asia challenging terrain for Uber. The challenge is such that it’s fitting that the U.S. ride-sharing giant has hired a man who once scaled the summit of Mount Everest to lead its business in the region. Brooks Entwistle, a former Chairman of Goldman Sachs Southeast Asia, was announced today… Read More

  • Uber suspends its service in the Philippines following ban over unregistered drivers

    Uber suspends its service in the Philippines following ban over unregistered drivers

    Uber has suspended its services in Philippines after the national regulator banned it from operating for one month. The country’s Land Transportation Franchising and Regulatory Board (LTFRB) ordered a cease and desist against the U.S. ride-hailing firm on Monday over its apparent flouting of a ban on new drivers. The company initially lodged an appeal and continued with its service… Read More

  • FlySpaces, an Airbnb for office space in Southeast Asia, raises $2.1M

    FlySpaces, an Airbnb for office space in Southeast Asia, raises $2.1M

    Now is a good time to be in the co-working industry in Southeast Asia, it seems. Barely days after WeWork announced plans to enter the region, which is home to over 600 million people, through the acquisition of Singapore startup Spacemob, now a company that operates like an Airbnb for office space rentals has raised money. FlySpaces, a startup headquartered in the Philippines… Read More

  • Sequoia Asia venture partner Yinglan Tan has left to start his own VC firm

    Sequoia Asia venture partner Yinglan Tan has left to start his own VC firm

    Yinglan Tan, a Sequoia venture partner based out of Singapore, has left the firm following a five-year stint and is now launching his own fund. Both Tan and Sequoia confirmed that he departed earlier this year. Tan, who joined Sequoia in 2012 from Singapore’s National Research Fund and is the author of two books on tech and investment, was part of Sequoia’s presence… Read More

  • Singapore, like the US, says it may regulate some ICOs

    Singapore, like the US, says it may regulate some ICOs

    Less than a week after the SEC said that it may regulate certain crypto token sales, better known as ICOs, Singapore has followed suit to say it too will regulate offerings that are deemed to be securities. Already a global financial hub, Singapore has developed into a destination of sorts for ICOs, with the likes of TenX ($80 million), Golem ($8.6 million) and Qtum ($15.6 million) among those… Read More

  • Expedia invests $350M in Traveloka to create Southeast Asia’s newest unicorn

    Expedia invests $350M in Traveloka to create Southeast Asia’s newest unicorn

    Expedia is deepening its focus on Southeast Asia after it invested $350 million in Traveloka, an online travel portal based out of Indonesia. A source close to the deal confirmed that the investment values Traveloka at more than $1 billion. That means the startup has joined the likes of Grab, Sea (formerly Garena), Go-Jek and Lazada in the region’s unicorn club. Expedia said it has picked… Read More

  • Amazon Prime Now launches in Singapore, its first market in Southeast Asia

    Amazon Prime Now launches in Singapore, its first market in Southeast Asia

    It’s official — Amazon has launched its Prime Now delivery service in Singapore, its first market in Southeast Asia. The Amazon apps went live in Singapore early last night local time, and Prime Now — an aggressive two-hour delivery service — is available to Singapore’s population of over five million people from today. Read More

  • Amazon prepares to enter Southeast Asia via Singapore launch

    Amazon prepares to enter Southeast Asia via Singapore launch

    Amazon is continuing its international expansion push with the launch of its services in Singapore coming imminently. The arrival could happen as soon as this week, according to a source with knowledge of the plans, and it will mark Amazon’s entry into Southeast Asia. The launch will see Amazon Prime, Amazon Prime Now fast delivery and Amazon’s regular e-commerce services… Read More

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