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Asia Tech Review: May 21 2018

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Welcome back and hello from London, Another double edition newsletter this week as there was no email
 
May 21 · Issue #71 · View online
Asia Tech Review
Welcome back and hello from London,
Another double edition newsletter this week as there was no email last week. Beyond catching up on Walmart-Flipkart, there was plenty of news over the past seven days, including another monster earnings report for Tencent, an IPO for Japan’s Mercari and a flurry of investment deals in Southeast Asia, one of which was Carousell’s $85 million Series C.
See you again next week, or before then in the ATR Telegram group: https://t.me/asiatechreview
Jon

China
Tencent profit jumps 61% as mobile gaming business surges
China’s Didi pares back Hitch service following passenger murder
Alibaba buys Rocket Internet’s Daraz to expand its e-commerce empire into South Asia
Baidu COO Lu Qi is leaving the company
Roadstar.ai gets $128M
Bytedance goes on a lawsuit spree, sues both Tencent and Baidu on same day
India
Walmart announces $16B Flipkart investment
Automobile Marketplace Droom Raises $30 Mn In Series D Funding
Japan
Mercari launches $1.1 billion IPO
Job hunting service Glassdoor sold to Japan’s Recruit for $1.2 billion
Southeast Asia
Southeast Asia-based mobile listings startup Carousell raises $85M
Southeast Asia’s Carro raises $60M
Co-working firm JustCo and sovereign wealth fund GIC team up on $177M investment
Jirnexu pulls in $11M for its financial comparison service
Ucare.ai is using AI to make healthcare more efficient in Southeast Asia
Interesting Reads
Great analysis of Vision Fund and its potential impact link
Solid background on the Walmart-Flipkart deal link
Profile of Tiger Global’s Lee Fixel, who is credited for making Walmart-Flipkart happen link
Interview with the founder of billion-dollar Chinese crypto chip maker Bitmain link
Chinese Premier Xi Jinping obsesses over winning the global technology war link
Inside North Korea’s hacking initiative, which targets global banks, based on accounts and insight from defectors link
A look at Xiaomi’s man in India, Manu Jain, who stands to profit handsomely from the company’s upcoming IPO link
How WhatsApp is impacting India’s upcoming election link
A Japanese startup is helping inject AI into factory robots link
Analysis of Chinese accelerator programs in the US link
Despite the ban, China is Facebook’s second largest market for advertising revenue link
Great story on Chinese rocket collectors who show off stones that look like pieces of meat link
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