Tencent’s and Baidu’s $814M joint venture with Wanda signals the coming tide of in-store WeChat payments #cloud #cloudcomputing

China’s largest tech corporations are rushing to penetrate an industry that’s historically not tech-savvy – brick-and-mortar retail. Dalian Wanda Group, a conglomerate best known for its chain of movie theaters , has launched a US$814 joint ecommerce venture with Baidu and Tencent for the purpose of accelerating the three firms’ reach for in-store mobile payments. Tencent and Baidu have confirmed news of the venture with Tech in Asia.


Instant messenger app Hike gets $65 million from Tiger Global, other investors

NEW DELHI: About a decade and half after Sunil Mittal’s Bharti Airtel raised $60 million from Warburg Pincus, Hike, the instant messenger app company founded by his son Kavin, has raised $65 million from foreign investors led by New York-based Tiger Global.  “I raised my first $60 million at age 42, Kavin has done it at 26. Sign of a changing India. A youthful and tech savvy India. A big congratulations to Kavin and his stellar team at Hike,” Sunil Mittal told ET.


Chinese Classified Listings Website Closes USD200 Million Round

Chinese lifestyle information website Ganji.com has gained new investments of USD200 million with investors such as Tiger Fund and Carlyle Group. Yang Haoyong, chief executive officer of Ganji.com, revealed that the company plans to launch its initial public offering in June 2015. Yang said Ganji.com will “not be listed with the second position” and the company aims at three firsts. It eyes the first position for operating revenue in the classified information industry in China; the first position for mobility in the classified information industry; and the first in the recruitment industry.


Temasek puts $30M into US-listed Chinese internet companies, JD.com and Cheetah Mobile

JD.com, China’s second largest ecommerce site, today received a US$17.2 million investment from Singapore state-owned investment firm Temasek, according to a filing with the U.S. Securities and Exchange Commission. The investment would translate to a stake of 0.06 percent for Temasek, according to Bloomberg data. This comes hot on the heels of the ecommerce company’s US IPO earlier this year in May, where they raised US$1.78 billion. Temasek’s backing will no doubt further boost investor confidence in JD.com. At the same time, Temasek put US$12.8 million into Chinese security software firm Cheetah Mobile.


Here’s what Docomo and KDDI are doing to promote startups in Asia

Our smartphones connect us to the internet and millions of apps, but it is our telecommunications providers that allow the connection to take place at all. It makes perfect sense that the companies behind our handsets would be keen to aid tech startups, because people don’t just buy smartphones for specs – they buy them to access the must-have apps that keep us glued to our screens. NTT Docomo and KDDI – Japan’s first and second-largest wireless carriers by user base, respectively (or first and third , if one accounts for group companies) – are on the front-lines of startup investment with multi-million dollar funds and seasoned incubation programs.


Indonesia’s Telkom prepares $200 million for startup investment, the country’s largest tech fund to date

Indonesia’s tech startup scene gets a boost of confidence today as the country’s biggest information and communication company Telkom (IDX:TLKM) announces its plan to invest US$200 million in tech startups, as reported today by Okezone . “As a CVC (corporate venture capital), Telkom is the first one in ASEAN,” says Telkom’s president director Arief Yahya. It will also be the biggest fund to ever come out of Indonesia for tech startups.


After helping Skype and Box, Itochu Technology Ventures wants your startup to win in Japan

Itochu Technology Ventures  (ITV) is the latest Japanese venture capital firm to start gunning for Southeast Asia. The move comes despite a strong presence in Japan where the firm has invested in noted Japanese startups like Crowdworks, Retty, and Whill. ITV joins the stream of venture capital, both large and small, streaming from Japan to its ASEAN neighbors. This trend has been well chronicled but ITV believes it can stand out from the pack. It is in the process of preparing a US$50-100 million fund to be finalized in 2015 and wants to use 30 percent of the capital for investing outside of Japan, with an emphasis on Southeast Asia.


Snapchat’s financing talks with Alibaba end

[BANGALORE] Snapchat Inc’s financing talks with China’s Alibaba Group Holding are over, Bloomberg reported, citing people familiar with the matter. The developer of a popular app that allows users to send messages that disappear after a few seconds was reportedly in talks last week with investors, including Alibaba, for financing that could value the company at US$10 billion.


Panasonic eyes US$1.5bil Olympic win with Tokyo Games infrastructure, innovations

TOKYO: Robot porters and wearable translation devices are just some of the innovations Panasonic Corp would like to launch for the 2020 Tokyo Olympics, an event it hopes will earn it at least US$1.5bil (RM4.81bil).  As one of the top sponsors of the Games since 1988, Panasonic has mainly supplied TV screens to host venues.  But with the event coming home, Panasonic sees the Olympics-related technology and infrastructure contracts up for grabs as an opportunity to expand its other businesses as it seeks to reduce its reliance on the highly competitive consumer electronics segment.


Line announces $100M fund just for mobile games, acquires 10% stake in Gumi

The smartphone gaming market is a fickle beast. Hit games once elevated the revenues of DeNA (TYO:2432 ) and Gree (TYO:3632 ) to the stratosphere but neither gaming giant has truly conquered the international market. A major obstacle is their inability to create a development platform that can rival the App Store or Google Play in terms of users or developers. Line, the Japanese corporation taking over the world with free messaging and fun stickers, thinks it can be the company to finally crack the code.


Report: Gaming firm worth RM3.21b leads Singapore tech scene

SINGAPORE, Aug 4 — One gaming company here has been valued at US$1 billion (RM3.21 billion) in a United States-based report — putting it way ahead of other tech companies here — as the local scene gears up with an increasing number of venture capitalist investments and acquisitions in recent years. The World Startup Report recently published a listing of the top three Internet companies by market valuation in each of the 50 countries in the report, with Singapore coming in at 27th on the list. Each country was represented by its three largest Internet companies.


China-based electronics maker seeks primary listing on TWSE

TAIPEI–China-based electronics components supplier BrightKing Holdings Ltd. has filed an application with the Taiwan Stock Exchange (TWSE) to seek a primary listing on the main board, the TWSE said Saturday. The TWSE said BrightKing is the fifth overseas registered company to seek a primary listing on the exchange so far this year.


Singapore’s GIC invests in India’s Flipkart, Amazon counter-invests US$2 billion in India

Flipkart emerged as India’s top e-commerce company when it did not face any significant competition in the Indian market. The rules of the game changed last year when global e-commerce giant Amazon came out in the market to compete with Flipkart and other e-commerce companies. Last year, Flipkart moved its back end technology operations to Singapore. Flipkart Pvt Ltd, the key holding arm of Flipkart, is a Singapore incorporated entity.


Amazon investing US$2 billion more in India as online retail booms

Amazon.com is investing US$2 billion more in India, which is witnessing an online retail boom. The online retailer has been expanding in India, and earlier this week said it was setting up five new fulfillment centers in the country, which will double its total storage capacity to over half a million square feet (over 46,500 square meters). The investment announcement comes a day after a top Indian online retailer, Flipkart Internet, said it had raised $1 billion in new funding.


SoftBank acquisition of US telco threatened by $15B offer from French rival

In July, SoftBank (TYO:9984) and Deutsche Telekom agreed in principle on a deal for SoftBank to buyout majority of the German telco’s stake in T-Mobile. American regulators had started to review the terms of the agreement but the future of the acquisition was thrown in serious doubt today after French telco Iliad announced it was making a new bid to buy 56.6 percent of T-Mobile. The price tag for the SoftBank deal was never announced but 4-Traders is reporting that Iliad is willing to pay US$15 billion in cash.


Alibaba makes a big push into gaming with $120 million investment in US-based Kabam

Chinese ecommerce titan Alibaba is making yet another investment in an American company by pouring US$120 million in funding into Kabam, a developer of online and mobile games. The Wall Street Journal, which first reported this, says it also involves a deal for Alibaba to distribute Kabam’s games in China to users of its Taobao marketplace and Laiwang messaging app. The move signals Alibaba’s intent to challenge WeChat more strongly by incorporating social gaming into Laiwang, which has been struggling to gain traction.


Why leading VC firm JAFCO is not giving up on Japan

Everyone knows that the investment market in Japan is considerably smaller than its American cousin. The US saw US$33.1 billion worth of investments for 2013 – Japan, only US$1.5 billion. In these parts, the announcement of a US$50 million fund set up over several years is big news. Japanese private equity firm JAFCO, on the other hand, has burned through an average of nearly US$80 million in Japanese investments every year since 2008.


Taiwan 1st half investment hits US$22.3 billion

A total of NT$666.5 billion (US$22.3 billion) was invested by the private sector in the first half of 2014, 51.27 percent of the annual target, according to the Ministry of Economic Affairs July 29. “Investment by overseas Taiwan businesses hit NT$55.1 billion, while foreign direct investment stood at US$5.65 billion,” the MOEA said at the Invest-Taiwan summit in Taipei City. The figure brought total investment by overseas Taiwan businesses since the implementation of an MOEA promotion program in November 2012 to NT$199.4 billion, with the figure expected to easily top NT$200 billion in the coming quarter.


Shunned By Other Countries, Chinese Tech Firm Makes British Investment

Huawei Technologies recently made an investment in XMOS, a British fabless semiconductor company and leader in intelligent multicore microcontrollers. This marks the Chinese telecom device maker’s first equity investment in a British technology company. Apart from Huawei, Robert Bosch Venture Capital GmbH of Germany and Xilinx Inc. from the U.S. also participated in the strategic investment round. The three companies invested a total of USD26 million in XMOS. XMOS’ valuation during this round of financing reached over USD100 million; however, XMOS gave no comment on the rumor.


Profits Not on Flipkart Agenda After Raising $1 Billion

Flipkart, the retailer that pocketed $1 billion in the biggest fundraising by an Indian e-commerce company, is happy to keep losing money as it tries to maintain a market lead, Chief Executive Officer Sachin Bansal said. “We don’t intend to become profitable anytime in the near future,” Bansal, 32, said in a conference call yesterday after the announcement of the capital injection. “We want to first settle down into a business model and then think about profitability over time.”