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Asia Tech Review: August 27 2018

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Welcome back, This was earnings week for a number of Asia's big tech firms, with Alibaba showing stro
 
August 27 · Issue #83 · View online
Asia Tech Review
Welcome back,
This was earnings week for a number of Asia’s big tech firms, with Alibaba showing strong growth but plenty of other talking points with its results. Elsewhere, top stories included:
  • Another Didi Hitch passenger murder, Hitch is now suspended again
  • Alibaba and SoftBank pump $3B into Ele.me
  • Xiaomi posts $2.1B profit in first quarter as a public business
  • China hits 800M internet users
  • Sequoia announces $695M India and SE Asia fund
  • Two SE Asia VCs hit landmarks on big new funds
That’s all for this week, see you again soon.
Jon
ATR is also on Telegram – over 300 subscribers sharing news and info so come say hi if you say the app. It isn’t all about crypto :)

China
Didi suspends Hitch service after another female passenger is murdered
Alibaba revenues jump 61%
Alibaba confirms it raised $3B for its newly consolidated local services business
Xiaomi posts $2.1B profit in its first quarter as a public company
China reaches 800 million internet users
Waymo sets up Shanghai subsidiary
WeChat and Alipay block crypto transactions
NIO aims to raise $1.8B in US IPO
Sequoia China is reportedly raising $6B fund with state-owned partner
Pinduoduo removes 4.3M listings in crackdown on fake goods
LinkedIn rival Maimai raises $200M
Qutoutiao files to raise $300M in US IPO
SoftBank Vision Fund to help Chinese online insurance giant ZhongAn go international
TPG and Orchid Asia lead $110M Series C for SaaS firm Duiba
ByteDance and Intel set up joint AI lab
Hong Kong
Binance launches an incubator program
India
Sequoia wraps up new $695M fund for India and Southeast Asia
Hyundai leads $14.3M investment in car rental startup Revv
Flipkart buys AI-driven speech recognition startup Liv.ai
Flipkart gets into refurbished goods
Walmart completes its $16 billion acquisition of Flipkart
Government makes notices to WhatsApp and their responses public
Japan
Payment startup Paidy lands strategic investment from Visa
Southeast Asia
Sea hits record revenue but big losses remain
Indonesian P2P lender KoinWorks raises $16.5M
Openspace Ventures closes new $135M fund
Stealthy VC firm Qualgro is raising a $100M fund
Vietnam's Sendo raises $51M
Grab plans electric vehicle push
Interesting Reads
How China is using surveillance and data for control link
A look at Google’s China ambitions link
How WeChat became China’s daily app link
Tencent and Alibaba dominate China’s internet and threaten all other tech companies link
Xiaomi’s investor reflects on its 8-year anniversary and first month as a public company link
How booking activities platform Klook became a billion-dollar company link
The e-sports industry is showing growth potential in Southeast Asia link
India’s new VC trend is new boutique investments funds link
India’s tea industry is struggling to move up the value chain despite fresh ideas from startups link
Is the Chinese government behind one of the boldest art-crime waves in history? link
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