Walmart partners with Rakuten to open its first e-commerce store in Japan

Walmart is continuing its strategy of revamping its businesses in Asia after the U.S. retail giant opened its first e-commerce store in Japan, where it is working with local retail giant Rakuten. The companies first announced a collaboration in January when they agreed to team up on the launch of an online grocery service in Japan … Read moreWalmart partners with Rakuten to open its first e-commerce store in Japan

Mogu’s long journey: From rejecting Alibaba’s advances to US IPO

Mogu, a Tencent-backed service that offers fashion content and products to young women, has joined a string of Chinese tech companies pressing ahead to sell their shares through initial public offerings in the US before the year-end. Mogu priced its sale at $14 per share on Wednesday, toward the lower end of a marketed range. … Read moreMogu’s long journey: From rejecting Alibaba’s advances to US IPO

JioSaavn becomes India’s answer to Spotify and Apple Music

India finally has its answer to Spotify after Reliance Jio merged its music service with Saavn, the startup it acquired earlier this year. The deal itself isn’t new — it was announced back in March — but it has reached its logical conclusion after two apps were merged to create a single entity, JioSaavn, which is … Read moreJioSaavn becomes India’s answer to Spotify and Apple Music

Skype co-founder snags $105M for fintech lending venture in Southeast Asia

A fintech whale quietly going about its business in Southeast Asia has come out from under the radar after Oriente, a Hong Kong-based business headed by Skype’s first employee, announced that it has raised a whopping $105 million. It may not be well known at this point, but the company has some serious street cred. Oriente … Read moreSkype co-founder snags $105M for fintech lending venture in Southeast Asia

Alibaba-backed parenting site Babytree starts taking orders for downsized IPO

A lot of Chinese millennials may be delaying or opting out of childbearing, but those who have committed to parenting often go all out to ensure their children grow up healthy and do well in school. One company capitalizing on China’s booming mother and infant industry – which is expected to double in market valuation … Read moreAlibaba-backed parenting site Babytree starts taking orders for downsized IPO

WeChat e-wallet teams up with Line to target Japan’s 7M Chinese tourists

China’s biggest chat app WeChat is set to make its payments service more ubiquitous in Japan, a popular outbound desitnation for Chinese tourists. On Tuesday, the Tencent-run messenger unveils a partnership with Japan’s Line chat app on mobile payments. The tie-up allows Japanese brick-and-mortar merchants with a Line Pay terminal to process WeChat Pay transactions … Read moreWeChat e-wallet teams up with Line to target Japan’s 7M Chinese tourists

Meituan, China’s ‘everything app,’ walks away from bike sharing and ride hailing

A major player in the race to transport Chinese people around is losing steam. Meituan Dianping, the Tencent-backed, all-encompassing platform for local services, continues to put the brakes on bike-sharing and ride-hailing, the company said on its earnings call on Thursday. The eight-year-old firm is best known for competing with Alibaba-owned Ele.me in food deliveries … Read moreMeituan, China’s ‘everything app,’ walks away from bike sharing and ride hailing

Tencent e-wallet is following Alibaba to Hong Kong subways

China’s payments giants have taken their battle to Hong Kong. Less than a week after Ant Financial announced adding QR codes to the city’s MTR public transport network of rail and buses, Tencent’s WeChat Pay unveiled a similar scheme on Wednesday. Starting mid-2021, commuters in Hong Kong can scan a barcode to enter the subway … Read moreTencent e-wallet is following Alibaba to Hong Kong subways

China’s hottest news app Jinri Toutiao announces new CEO

You may not have heard of ByteDance, but you probably know its red-hot video app TikTok, which gobbled up Musical.ly in August. The Beijing-based company also runs a popular news aggregator called Jinri Toutiao, which means “today’s headlines” in Chinese, and the app just assigned a new CEO. At a company event on Saturday, Chen Lin, an … Read moreChina’s hottest news app Jinri Toutiao announces new CEO

China’s Craigslist continues growth after netting 100 million small-town users

58.com, the Craiglist of China, is making a massive push to pick up rural users as it hedges China’s economic uncertainties. During the third quarter, revenues grew 33.2 percent to $527 million and net income jumped 106 percent to $106 million year-over-year.  The classifies giant said in Thursday’s earnings call that it added over 100 million new … Read moreChina’s Craigslist continues growth after netting 100 million small-town users