Alibaba’s updated IPO prospectus reveals new details about UCWeb acquisition

Chinese ecommerce leader Alibaba last night updated its SEC prospectus, revealing, among other things, details about last week’s acquisition of mobile browser maker UCWeb. The deal, which Alibaba proclaimed to be the biggest in Chinese internet history and bigger than Baidu’s US$1.9 billion acquisition of 91 Wireless, cost Alibaba US$479 million in cash and 12.3 million company shares for the remaining one-third of UCWeb.

http://www.techinasia.com/alibabas-updated-ipo-prospectus-reveals-details-ucweb-accquisition/?hvid=5ufTCO

Japanese gaming giant GREE announces new hotel booking service

GREE (TYO: 3632), the Japanese internet services company best known for its games, revealed a new hotel booking service today. Known as Tonight, the mobile app available for both iPhone and Android. Tonight promises to make reserving hotel rooms a ten second task, placing GREE in competition with popular startups like Hotel Quickly and Hotel Tonight, which are becoming increasingly popula

http://www.techinasia.com/gree-hotel-service/

UCloud, China’s Answer To AWS, Raises $50M As It Eyes Up An IPO In The U.S.

UCloud, a China-based provider of cloud computing infrastructure and services for games companies, and mobile startups and other enterprises (think Amazon Web Services here), has raised $50 million in a Series B round of financing, which it says is the largest-ever funding round for a Chinese provider of cloud-infrastructure-as-a-service. The round was led by Bertelsmann Asia Investments and Legend Capital. Previously, Bertelsmann participated in UCloud’s $10 million Series A along with DCM.

http://techcrunch.com/2014/06/17/ucloud-chinas-answer-to-aws-raises-50m-as-it-eyes-up-an-ipo-in-the-u-s/?ncid=rss

Tablet shipments doubled in past year in Philippines, Samsung and Apple face growing rivalry from homegrown brands

Tablet shipments in the Philippines grew 110 percent year-on-year, according to a recent report for Q1 2014 by research firm IDC. That’s the strongest growth rate for tablet uptake in Southeast Asia. In total, there were 598,375 tablets shipped in the Philippines in the first quarter of 2014. While Samsung and Apple still lead the race, IDC underscores that tough competition is now arising from local gadget makers as well as other global players. This is similar to the smartphone situation in the Philippines where cheaper homegrown phones are in big demand.

http://www.techinasia.com/apple-samsung-face-growing-competition-philippines-consumers-prefer-budgetfriendly-tablets/

DTI backs PH participation in CommunicAsia 2014

MANILA, June 17 — The Department of Trade and Industry (DTI) through the Philippine Trade and Investment Center (PTIC) in Singapore supports the Philippine delegation to CommunicAsia 2014 to further enhance the country’s position as Asia’s e-services hub and global leader in information technology and business process management (IT-BPM).

http://news.pia.gov.ph/index.php?article=1781402899685