Japan-based Rakuten has taken a minority stake in Fanli.com, one of China’s online rebate and rebate-based flash sale companies. The C-series round values the Chinese online shopping company at approximately USD1 billion. As part of this investment, Kevin H. Johnson, CEO of Ebates, a Rakuten Group company, will join Fanli’s board of directors. Rakuten’s investment gives it less than a 10% stake.
According to IDC’s Worldwide Quarterly Cloud IT Infrastructure Tracker, total cloud IT infrastructure spending (server, disk storage, and Ethernet switch) grew by 14.4% on year to US$8 billion in the fourth quarter of 2014, accounting for approximately 30% of all IT infrastructure spend, up from about 27% one year ago. Private cloud infrastructure spending grew by 18.3% on year to US$2.9 billion, while public cloud infrastructure spending grew to US$5 billion, 12.3% higher than one year ago.
Rakuten, Inc. today announced that it has taken a less than 10% stake in Fanli, China’s largest online rebate and rebate based flash sale company. The C-series round values the Chinese online shopping company at approximately US$1 Billion. As part of this investment, Kevin H. Johnson, CEO of Ebates, a Rakuten Group company, will join Fanli’s board of directors. “We are very excited to bring Rakuten on as an investor and welcome Kevin Johnson as a member of our board of directors,” commented Gary Ge, CEO of Fanli.
This has been a big week for the Xiaomi ecosystem, as one of the companies in the Xiaomi fold just acquired Segway. The acquisition caught the attention of industry-watchers the world over, but beyond being a big move for purchasing company Ninebot, the acquisition was also a big step for Xiaomi, as it marks the first time a company in its ecosystem has purchased a globally-recognized brand.
Remember earlier this week when the venture arm of Japan’s DeNA made its premiere investment in Indonesia in the form of a US$1 million seed round for live-streaming entertainment site Zeemi.tv? 500 Startups participated in the investment also, and Zeemi founder Tom Damek now has the bragging right of grabbing one of the largest seed rounds on public record in the archipelago. Tech in Asia caught up with the principal of DeNA’s venture arm James Riney this morning in Jakarta.
Taiwan’s Foxconn Technology Group (Hon Hai), a major contractor for Apple, has plans to invest US$3.5 billion in India in the coming years to produce a wide range of electronic devices, Indian daily the Business Standard reported Monday. “We’re looking at a US$3.5 billion investment in India in the next two to three years. This would span across smartphones, software, TVs and other electronics,” the English-language newspaper quoted Foxconn vice president Josh Fougler as saying.
BANGALORE: VMware, virtualization and cloud infrastructure provider, has set up its new facility in Bangalore, entailing a total investment of $120 million, and said that it will invest $500 million in India by 2017. The company’s 438,000 square foot Bangalore facility will play a strategic role in VMware’s global growth strategy for the mobile cloud era.
Brocade announced the opening of a new state-of-the-art development center in Bangalore, which will act as an additional base to support the company’s new IP innovations, like SDx and network virtualization. In addition, Brocade will also be investing US $300 million in India over the next five years. This is a clear indication of the fact that the company is being aggressive about bringing its new IP innovation technology to India.
VMware inaugurated its latest facility in Bangalore on Tuesday. The campus represents a total investment of $120 million, out of the $500 million it had committed in the country for three years till 2017. The 4.3-lakh sq ft facility in South Bengaluru will play a strategic role in VMware’s global growth strategy for the mobile-cloud era, Pat Gelsinger, chief executive officer of VMware said.
NEW DELHI: Apple, the world’s biggest electronics maker, has its eyes set on India. At a time when the company is working up aggressive sales targets for the market and multiplying its distribution network exponentially, the company on Friday came calling at the government’s doors, expressing willingness to up its commitment and investments. John Reynolds, Apple’s head of compliance for EMEIA region (Europe, Middle East, India, Africa), met telecom and IT minister Ravi Shankar Prasad and gave an overview of the company’s operations in the market.
China’s aggressive new policy to expand its semiconductor industry is worrying U.S. chipmakers, many of which are based in Silicon Valley, and raising potential national security concerns as it begins to acquire U.S. tech companies. The world’s largest market for integrated circuits, China is expected to spend up to $100 billion on both domestic investments and acquisitions abroad to grow its semiconductor industry by more than 20 percent annually over the next five years.
The Indonesian ecommerce joint venture between postal service SingPost and mobile device retailer Trikomsel will go live some time in May, according to Trikomsel president and CEO Sugiono Wiyono. Previously a somewhat mysterious project, we now know the ecommerce firm will start with selling smartphones, clothing, and sports gear. Following a move by Lippo Group’s MatahariMall to offer online-to-offline service in which customers can order online, then pay and pick up goods at a physical store, Trikomsel will leverage its own nationwide network of nearly 1,000 brick-and-mortar shops in the same way.
After Ant Financial – an affiliate group of Alibaba – invested in Indian third-party payment service Paytm, there has been an increasing interest among Chinese investors to expand into India. The latest among these is Gobi Partners, which confirms to Tech in Asia that it is exploring an interest in India. It’s an early stage fund established over ten years ago to focus on home-grown digital innovation in China. Today, Gobi manages five funds, and has six offices across China, Hong Kong, and Singapore.
On Wednesday, Microsoft China announced that 100 Chinese tech startups are about to get lucky. The company is promising RMB 100 million (US$16 million) in cloud services and support to 100 Chinese startups. Reportedly, Microsoft is also partnering with Northern Light Venture Capital, DCM, and Gobi Partners to offer financial investments in addition to the cloud services and support. The first batch of 100 startups will be hand-picked by Microsoft and its VC partners.
Sinoze is most well known for mobile music game Thapster, which features Thai and international artists and has, it claims, about a million monthly active users. Today the company announced it has raised a US$750,000 round from InVent, the venture capitalist arm of Thailand’s largest telco Intouch. The funding will go towards international expansion through its second title Electhap, a music game aimed at the international market.
MUMBAI: A group of investors led by Japanese mobile telecom firm SoftBank Corp is in talks to buy a 20 per cent stake in Indian handset maker Micromax Informatics for up to $1 billion, two people aware of the discussions said. The investment would value Micromax, an unlisted provider of affordable smartphones that competes with South Korea’s Samsung Electronics Co, at around $5 billion, the people said. They did not want to be named because the talks aren’t public.
MUMBAI: A group of investors led by Japanese mobile telecom firm SoftBank Corp is in talks to buy a 20% stake in Indian handset maker Micromax Informatics for up to $1 billion, two people aware of the discussions said. The investment would value Micromax, an unlisted provider of affordable smartphones that competes with South Korea’s Samsung Electronics Co, at around $5 billion, the people said. They did not want to be named because the talks aren’t public.
BENGALURU: Infosys plans to allocate a quarter of its $500-million (about Rs 3,000 crore) fund to invest in startups in Silicon Valley, Israel and India along with venture capital firms. India’s second-largest software services exporter has had discussions with about two dozen VC firms, including Andreessen Horowitz, for such investments, two people familiar with Infosys’ strategy said, requesting anonymity. “There are no formal agreements with any particular VCs. The strategy is to back startups and entrepreneurs with ideas that align with the company,” one of them said. “The idea is not just to be a passive financial investor but take disruptive solutions to customers.”
Chennai, Mar 20 (PTI) State-owned BSNL has undertaken a Rs 1,000 crore investment plan which include launch of Skype facility and setting up of Wi-Fi hotspots at tourist places, a top official said today. “We have taken several measures. Only last week we began migration of landline customers to next generation service facility. It will provide lot of services to customers. Second, we are experimenting with BSNL Skype. For the Wi-Fi hotspots, 14 centres in tourist places in South zone have been identified,” BSNL Director N K Gupta said.
Nintendo is finally getting smart. In Tokyo today, the company announced that it is entering into a partnership with DeNA, the Japanese tech giant which rose to prominence on the strength of its smartphone games. During the press conference Iwata and Moriyasu revealed that this deal had been in the works since last summer. With the partnership announced, they confirmed that consumers can expect games to appear by the end of this year.