Welcome back, It's hard to see much in the news beyond the coronavirus, particularly as the number of
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| February 3 · Issue #142 · View online |
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Welcome back, It’s hard to see much in the news beyond the coronavirus, particularly as the number of cases begins to rise in Southeast Asia while spreading into Europe and beyond. But this week’s highlights include Apple’s plans to finally launch online sales in India, a massive new investment fund for Japanese startups and, in Southeast Asia, Sea is emerging from long-time investor Tencent’s shadow. As for this newsletter, it – and I – will be back next week. See you then, Jon
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China is arresting people for posting misinformation about coronavirus online
More than 250 people have been punished in China for allegedly spreading rumors related to the novel coronavirus. Officials claim the speculation is undermining trust in official sources. Reports suggest, however, that the Chinese government’s obsession with suppressing information and maintain political stability when the outbreak began in December allowed it to spread wider and faster than it should have link
There’s now a fear that the virus may impact tech supply chains link
Elsewhere, Baidu became the first firm to delay its earnings report due to the outbreak link
One reporter wrote about what life on the ground in Hubei province, where Wuhan is located, is like link
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The president of the Internet Association is leaving to head policy at TikTok USA link
Apple removed 805 apps from the Chinese version of the App Store between 2018-2019 link
The UK will allow Huawei to play a “limited” role in its planned 5G rollout despite US pressure for a ban link
The US government is cracking down on Chinese drones link 🔒 |
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Apple to finally begin online sales in India in Q3
The company has been keen to crack India for some time, with local regulations thus far preventing it from opening its own retail stores, online is a logical first step. Meanwhile Apple is said to have seen a spike in sales in India in the most recent quarter link
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Fast-rising payment company BharatPe is said to be in talks with Uber investor Coatue over a potential $100M investment link
The WSJ profiled Gaana, the Spotify rival backed by Tencent and Times Internet link🔒 InterviewBit, which helps graduates and engineer learn advanced computer science skills online, raised $20M – it was part of Sequoia’s Surge program link
A breach at Indian airline SpiceJet has affected 1.2 million passengers link
More Chinese investors are piling into India link
Google announced a $1M grant to promote news literacy in India link
SoftBank, Tiger Global and Naspers may join India’s Startup Council – feels a ironic given that India is prioritising local companies on one hand link
OYO’s cost-cutting has extended to the US, where it left around one-third of staff go link
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Japan's SBI plans $920m venture capital fund 🔒
SBI Holdings on Friday said it plans to raise up to 100 billion yen ($920 million) for a new venture capital fund that would be the largest in Japan. It is said to be seeking investors with a focus on 5G, robotics or IoT.
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Yamasa made a $30M investment in US-based The Bouqs to bring its flower delivery service to Japan link
SoftBank’s self-driving buses will carry passengers on public roads from April link
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After meager 2019, Samsung's modest chip recovery outlook falls flat
Samsung is counting on a gradual recovery in memory chip demand from data centers and 5G smartphone makers to help it bounce back in 2020 after sliding to its worst operating profit in four years.
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Sea bought Canada-based game developer Phoenix Labs
The undisclosed deal is another example of Sea moving out of the shadow of long-time investor Tencent. I used to consider the firm a Tencent proxy, but there’s plenty of arguments to challenge that assumption. Its Fornite-like Free Fire game has grossed over $1B in sales and Shopee continues to fight head-to-head with Lazada. If Sea can win a banking license in Singapore–where, by the way, it is one of only two solo bidders alongside Alibaba’s Ant Financial–it could really turn into a Southeast Asia monster.
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Gojek said it regularly reviews all of its services through a lens of sustainability – I find it fascinating that it talks of being the underdog that executes best… because arguably Grab is an execution machine… link
Meanwhile Grab launched its first electric cars in Indonesia, where it hopes to operate 50 by the end of 2020 link
Singapore has its first rules in place for crypto companies link
Indonesia has proposed a law to ‘step up’ consumer data protection link
Indonesia’s eFishery in talks with PE firm Northstar and Gojek’s Go-Ventures over potential funding link
Another contender for those Singapore banking licenses emerged: Chinese e-commerce group Zall link
Philippines-based 'e-commerce enabler’ Great Deals, which helps brands get selling online, raised $12M – a notable deal for PH link
Indonesia had a ride-hailing exit… but it isn’t Grab or Gojek: instead Anterin, which has a very different model and more modest 300K drivers link
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The Economist on the rise of “Chinese enclaves” in Southeast Asia link 🔒 Remarkable story of a 7-year-old artist in Thailand link
A look at why Indonesia, the country with the largest Muslim population in the world, has kept silent on Xinjiang link
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There are dozens of photos like this which capture the panic around the coronavirus outbreak.
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