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Asia Tech Review: July 31 2018

Welcome back, This week's email is out slightly late as I had an extended weekend with a bank holiday
July 31 · Issue #80 · View online
Asia Tech Review
Welcome back,
This week’s email is out slightly late as I had an extended weekend with a bank holiday in Thailand, but it looks like Monday was a fairly quiet news day so nothing much was missed.
The same can’t be said of last week, however, which included some explosive developments across Asia, including:
⛔️ Qualcomm finally threw in the towel on the NXP deal
🇨🇳 Facebook received, then lost, a license for a China-based subsidiary
🗽 Pinduoduo shares spiked as it went public in New York
💸 Major funding deals for WeWork China, WeWork rivals in Hong Kong and India, and two financial inclusion startups in Southeast Asia.
Read on for all the details, more news and a selection of recommended longer reads.
See you again next week!
Find me on Twitter: @jonrussell
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Qualcomm ditches NXP deal after failing to win Chinese approval
Facebook briefly got a license for a Chinese subsidiary
Pinduoduo shares leap 35% after US IPO
Alibaba is now backing another major AI startup in China
WeWork China raises $500M to triple the number of cities it covers
WebMD arrives in China via WeChat
Xiaomi goes after global markets with two new Android One phones plans move into Europe
Starbucks set to deliver coffee in tie-up with Alibaba’s
Improbable is now worth $2B after NetEase investment
IoT startup Tuya raises $200M Series C
Hong Kong
Hong Kong co-working startup Campfire pulls in $18M ahead of global expansion
WhatsApp admin spent 5 months in an Indian jail
Tencent reportedly in talks to invest up to $500M in Oyo
Paytm seeks $500 million for local services business
Ola is aiming for an IPO in 3-4 years
WeWork rival Awfis raises $20M
SoftBank and Paytm confirm payments service coming in Autumn
Line gets serious about gaming with latest acquisition
LG Mobile’s losses continue but now sales are falling too
Southeast Asia
Kredivo raises $30M to build a digital credit card for Southeast Asia
Experian leads $28M investment in fintech startup C88
Korean hotel firm Yanolja moves into Southeast Asia with $15M investment in Zen Rooms
Southeast Asia's newest ride-sharing firm uses the blockchain
Grab hit by backlash over changes to customer loyal program
Recommended Reads
A profile on Grab’s rise in Southeast Asia link
Tencent is spending $150M to dominate e-sports link
Great explainer on Pinduoduo, China’s new e-commerce giant that uses gamification and group-buying link
Highlights of India’s committee report on data protection link
How is working to improve rural China link
How Alibaba is disrupting China’s banking and financial system link
ZTE and the Chinese military have deep ties link
Techstar’s first batch in Singapore, in conjunction with Rakuten link
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