Photo credit: Go-Jek
Here’s a wrap of the day’s news.
Transportation
Go-Jek gets into content streaming, partners with Vice on originals (Indonesia). The ride-hailing app has revealed it’s launching a video-streaming subscription service. Go-Play will focus on the Indonesian market and create content based on data gathered from app users. Go-Jek is also setting up Go-Studios, a content production arm that will make feature films and documentaries for the service. It has partnered with US media outlet Vice to co-produce original content as well. (Tech In Asia)
RenRenChe to get US$300 million investment from Goldman Sachs (China). The Chinese secondhand-car auction platform will use the money to invest in technology development and make new hires. Two other RenRenChe shareholders, Didi Chuxing and Tencent, are also participating in the funding round. (South China Morning Post)
Singulato Motors secures US$474 million funding (China). The Chinese maker of new-energy vehicles (NEVs) raised the money in its series C funding round. The startup didn’t disclose which investors joined the round. Last month, it was reported that the company established a US$1.6 billion fund with the government of Suzhou for investment in NEV-related industries. (China Money Network)
LG Electronics snaps up car-light maker ZKW in US$1 billion-plus deal (South Korea). The Seoul-based electronics giant announced that it plans to buy the Austrian manufacturer of automotive lights for US$1.3 billion. LG said the acquisition will strengthen its car-parts business portfolio. The deal comes at a time when consumer tech and electronics companies are becoming increasingly involved in the automotive space, bringing their expertise to bear in the development of connected cars, autonomous vehicles, and other new car technologies. (The Washington Post)
Ecommerce
SoftBank urges Flipkart to wait for Amazon (India). The Japanese conglomerate – a key Flipkart shareholder – has reportedly asked the Indian ecommerce platform to wait and see what Amazon has to offer before striking a deal with Walmart, according to three people with knowledge of the matter. The sources also said that other investors, notably Tiger Global, want to move forward with Walmart, but one of them also claimed that “Amazon has indicated it will offer 10 to 15 percent more” than its rival bidder. (Livemint)
Meanwhile, Google may be getting in on the deal, too. Sources familiar with the matter suggested that Google parent Alphabet is likely to acquire a minority stake in the Indian ecommerce firm if Walmart’s bid is successful. Alphabet could invest as much as US$2 billion following a takeover by the US retailer, the sources claimed. Google and Walmart may be teaming up to fend off Amazon’s attempts to dominate ecommerce in India’s 1.3 billion-strong consumer market. (The Economic Times)
Photo credit: Andre Francois / Unsplash
Blockchain and cryptocurrencies
ICOs to be scrutinized further by Australian corporate watchdog (Australia). The Australian Securities & Investments Commission (ASIC) revealed plans to widen the scope of its guidance to include more questions on initial coin offerings (ICOs). Speaking at a fintech event in Sydney, ASIC commissioner John Price said that the country’s corporate and consumer laws might apply even to ICOs launched abroad. (DealStreetAsia)
Media and entertainment
AI video editor from Alibaba to help brands on Taobao (China). Called Aliwood, the tool will use artificial intelligence to take key assets from a product page – reportedly in less than a minute – to create a 20-second video that brands may use to promote their products on the site. The editor will be available to apparel and electronics brands by the end of 2018, with other categories to follow. (Alibaba)
Enterprise software and services
GetLinks grabs investments from Alibaba and Seek (Thailand). The Bangkok-based tech recruitment app secured financing from Australia’s Seek Group and Alibaba’s Hong Kong Entrepreneur Fund. The amount of the investment was not disclosed. AddVentures, K-Ventures, the Peterson Group, and Axis Capital Partners also joined the round. (TechCrunch)
Big tech
Baidu beats quarterly revenue and profit forecasts (China). The Chinese tech company’s stock rose 5.5 percent in late trading after it reported a 23.4 percent rise in net profit for the quarter, exceeding the 19.5 percent expected by analysts. Marketing revenue for the three-month period hit US$2.71 billion, representing 23 percent growth. Baidu is expecting second-quarter revenues to rise by as much as 25.4 percent against Thomson Reuters estimates of 15.9 percent. (Reuters)
Investors, incubators, and accelerators
Indian tech startups get a boost from Google’s mentorship program (India). Named Solve for India, the project is aimed at startups that focus on machine learning and artificial intelligence. Companies participating in this week’s inaugural boot camp included FarMart, LegalDesk, M-Indicator, Meesho, Nebulaa, PaySack, Pratilipi, PregBuddy, SlangLabs, and Vokal. (Livemint)
See: Previous Asia tech news roundups
This post Asia news roundup: Go-Jek goes for video, Google mentors India tech startups, and more appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/apac-news-27-04-2018
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