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Asia Tech Review: June 11 2018

Welcome back, I spent much of last week in Singapore for the Innovfest Unbound event which pulled in
June 11 · Issue #73 · View online
Asia Tech Review
Welcome back,
I spent much of last week in Singapore for the Innovfest Unbound event which pulled in 13,000 attendees according to the organizers. Events are always great for networking but there wasn’t a tonne of news actually announced there. The biggest highlight was arguably Grab’s new ‘Ventures’ initiative which was officially launched last week and isn’t actually 'new’.
Other highlights from the week of news include:
🐜 A huge $14B round for Alibaba’s Ant Financial
🤳🏻 Streaming app Bigo raised $272M
👨🏻‍🔧 Taiwan-based rival M17 stalled on its US IPO
😷 Foxconn was under fire for how it treats workers producing Kindles for Amazon
See you again next week,

Ant Financial raises $14B ahead of expected IPO
China's ZTE reportedly signed preliminary agreement to lift US ban
Foxconn Industrial Internet enjoys stellar Shanghai IPO
Evernote is spinning out its Chinese business and it plans to take it public
SoftBank goes local with majority sale of ARM China unit
SenseTime closes $620M follow-on round
Tiger Global leads $70M deal for long-term leasing startup Danke
WeChat could soon be used as part of an electronic pass system for traveling between China, Hong Kong and Macau
Car auction platform Chezhibao raises $125M
Rival car auction Platform Tiantianpaiche raises $100M
Indiegogo expands focus on China
Xiaomi’s Mi 8 may be its most brazen iPhone copycat yet
Google brings its FilesGo Android device management app to China
In compromise with TRAI, Apple updates iOS to include spam reporting
Ola’s revenue jumps 70% but still the company isn't likely profitable
Social commerce startup Meesho lands $11.5M led by Sequoia India
Locus raises $4M to expand its logistics management service worldwide
Indian government sends notice to Facebook over data sharing deals
PayPal and Singapore’s Temasek invest $125M in payment startup Pine Labs
Google says over 8 million people use its free WiFi service as it hits 400 railway stations
Google launches a Q&A app for neighborhood communities
Airbnb removes nearly 50,000 rentals to comply with new law
Korean crypto exchange Coinrail loses over $40M in tokens following a hack
Southeast Asia
Grab launches new venture to back startups in Southeast Asia
Grab reportedly says its annual revenue is over $1 billion
Go-Jek reportedly offered $1 billion in new funding
Crypto wallet imToken relocates to Singapore
MyRepublic raises $60m to push expansion ahead of impending IPO
M17 delays IPO debut after pricing
Bigo raises $272M from Chinese streaming app YY
EV Hive raises $20M for its co-working business to rival WeWork
Carousell once turned down a $100 million acquisition offer
Interesting Reads
Expose on working conditions at Foxconn’s Kindle production plants link (original China Labor Watch report)
China’s Bitmain, which makes crypto miners, is considering an IPO link
How India’s outsourcing giant Infosys is adapting to modern times link
China apparently hacked a navy contract, picking up US military data link
An in-depth look at ZTE’s past and future link
Google is quietly formulating a new strategy for China link
How drones and robots are changing e-commerce in China link
North Korea’s ruling elites love the iPhone link
One crypto story >> EOS just closed a year-long IPO worth a record $4 billion but it looks like chaos link
And finally >> President Trump could reportedly open a US embassy on North Korean soil link
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