Alibaba takes an 8% stake in Tencent-backed anime streaming site Bilibili

Ecommerce giant Alibaba is continuing its push into the world of youth culture after it scooped up an 8 percent stake in anime streaming and game publishing company Bilibili. According to a securities filing on Thursday, Alibaba’s Taobao marketplace has acquired about 24 million shares in Bilibili, the Shanghai-based firm that has captured 93 million monthly users … Read moreAlibaba takes an 8% stake in Tencent-backed anime streaming site Bilibili

Alibaba’s Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M

Ant Financial, the financial services behemoth affiliated with Chinese e-commerce giant Alibaba, has made its first big move into Europe. It’s acquired London-headquartered payments company WorldFirst in a deal that sources tell us is valued at around $700 million. (That price would also line up with multiple reports from December claiming the two were in … Read moreAlibaba’s Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M

China’s Alipay digital wallet is entering 7,000 Walgreens stores

China’s payments heavyweights have been following tourists abroad as their home market gets crowded. Ant Financial, Alibaba’s financial affiliate with a said valuation of $150 billion, now sees its virtual wallet Alipay handling transactions at 3,000 Walgreens stores in the U.S. and is eyeing to reach a roster of 7,000 locations by April. The alliance will … Read moreChina’s Alipay digital wallet is entering 7,000 Walgreens stores

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

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 worth $226 million to go after the opportunity to digitize Asia’s fashion supply chain. This new round takes Zilingo to $308 million from investors since its … Read moreE-commerce startup Zilingo raises $226M to digitize Asia’s fashion supply chain

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

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 new capital from lead investor Vision Knight Capital, with Kinzon Capital, Greenwoods Investment, Yunmu Capital and Cathay Capital also participating in the round. The new … Read moreXiaomi-backed electric toothbrush Soocas raises $30 million Series C

Chinese e-commerce challenger Pinduoduo is raising over $1 billion more

The price of competing with e-commerce giants Alibaba and JD.com is immense. That’s evidenced by challenger Pinduoduo, commonly known as PDD, which is raising more than $1 billion in fresh capital just six months after it went public. The company announced plans to sell 37 million shares in a move that will raise over $1 billion, going … Read moreChinese e-commerce challenger Pinduoduo is raising over $1 billion more

Foxconn pulls back on its $10 billion factory commitment

Well that didn’t last long. In 2017, Foxconn announced the largest investment of a foreign company in the United States when it selected Mount Pleasant, Wisconsin for a new manufacturing facility. Buttressed by huge economic development grants from Wisconsin, an endorsement from President Trump, and Foxconn CEO Terry Gou’s vision of a maker America, the … Read moreFoxconn pulls back on its $10 billion factory commitment

Meet the little-known Chinese Wi-Fi startup that rubs shoulders with WeChat and Alipay

The app that gives people free Wi-Fi has 800 million monthly active users worldwide Rita Liao 1 day A service that connects people to Wi-Fi hotspots for free turned out to be one of China’s most popular apps, nestling in the top ranks with Tencent’s WeChat messenger and Alibaba’s digital wallet affiliate Alipay. According to … Read moreMeet the little-known Chinese Wi-Fi startup that rubs shoulders with WeChat and Alipay

VCs give us their predictions for startups and tech in Southeast Asia in 2019

The new year is well underway and, before January is out, we polled VCs in Southeast Asia to get their thoughts on what to expect in 2019. The number of VCs in the region has increased massively in recent years, in no small part due to forecasts of growth in the tech space as internet … Read moreVCs give us their predictions for startups and tech in Southeast Asia in 2019

Alibaba taps Kabbage to loan up to $150K to SMBs after it quietly acquired OpenSky to ramp in North America

Alibaba’s long-term ambition to grow its business in the U.S. is taking another step forward. To increase sales to U.S. small businesses, the company has partnered with Kabbage, the SoftBank-backed unicorn that provides loans to SMBs using big data and machine learning to determine eligibility faster than a traditional bank lender, to provide up to $150,000 … Read moreAlibaba taps Kabbage to loan up to $150K to SMBs after it quietly acquired OpenSky to ramp in North America