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Asia Tech Review: May 8 2018

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Welcome back,The past week has seen public holidays across the world, and that has also led to a doub
 
May 8 · Issue #70 · View online
Asia Tech Review
Welcome back,
The past week has seen public holidays across the world, and that has also led to a double-header this time around since there was no ATR newsletter last week.
There’s plenty to catch-up on, as ever, including:
  • Xiaomi finally files for IPO – lots of financial info to look over
  • The ongoing future of Flipkart seems to have nearly reached a conclusion
  • Two major tech deals in Bangladesh
  • Lots of ride-sharing updates from Southeast Asia, including Grab’s apparent plan to raise $1 billion more and Go-Jek’s efforts to woo Singapore’s top taxi firm. (I also wrote in detail why Grab’s acquisition of Uber Southeast Asia isn’t going quite as planned.)
See you again next week, if not sooner in the ATR Telegram chat group – now at over 300 members >> https://t.me/asiatechreview
Jon
@jonrussell

China
Alibaba beats forecasts with 61% growth
Xiaomi files to raise $10B in Hong Kong IPO
Did could go public this year
Kaifu Lee's Sinovation firm plots new $900M fund
GGV raises first Chinese fund worth $240M
Robot firm Ubtech raises $820M led by Tencent
China’s Uber for trucks raises $1.9B for expansion
EcoFlow raises $4M from unconventional investors to grow its mobile power business
Report: Chinese smartphone shipments drop 21% to reach lowest level since 2013
Y Combinator is going after Chinese startups with its first official event in China
Binance founder sued by Sequoia over investment deal
India
It looks like Walmart has won the battle to buy Flipkart
Packaging solutions startup Bizongo raises $22M from Eduardo Saverin’s B Capital
Bangladesh
Bangladesh’s version of Go-Jek raises over $10M in a round led by Go-Jek
Ant Financial reportedly investing in bKash
Japan
Nintendo Switch drives staggering 500 percent profit jump
Korea
Southeast Asia
Grab is reportedly in talks to raise $1B
Razer doubles down on Southeast Asia and payments with acquisition of MOL
Go-Jek is in talks with ComfortDelGro over partnership
India’s Jugnoo to test reverse bidding model in Singapore
WeWork is planning a major expansion in Southeast Asia
iPrice raises $4M led by chat app Line’s VC arm
Interesting Reads
How China is using tech companies to advance its goals link
A dive into blatant sexism in China’s tech industry link
How Xiaomi overcome a disastrous 2016 to go on to this huge IPO link
Xiaomi’s success is down to a different approach to Apple link
Grab’s acquisition of Uber may be official, but I wrote about why it’s a mess of a deal link
I also appeared on Analyse Asia podcast talking about Uber, Grab and Go-Jek link
A North Korean defector is a live-streaming star in South Korea link
New Nintendo president wants to double down on mobile games link
Didi’s plan for world domination link
Razer CEO says Hong Kong investors aren’t yet savvy about tech IPOs link
One crypto post >> How bitcoin compares to traditional investments link
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