The Khashoggi murder isn’t stopping SoftBank’s Vision Fund – TechCrunch

The Khashoggi murder isn’t stopping SoftBank’s Vision Fund – TechCrunch

Money talks in the startup community, especially when SoftBank comes knocking with the megabucks of its Vision Fund. Despite the public outcry around the firm’s dependence on money from Saudi Arabia in the wake of that country’s assassination of Washington Post journalist Jamal Khashoggi, deal flow for Softbank’s Vision Fund appears to be back to normal. The $100 billion megafund has done 21 deals over the last two quarters, that’s as more than in the other quarters of the previous

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Tiger Global and Ant Financial lead $500M investment in China’s shared housing startup Danke – TechCrunch

Tiger Global and Ant Financial lead $500M investment in China’s shared housing startup Danke – TechCrunch

A Chinese startup that’s taking a dorm-like approach to urban housing just raised $500 million as its valuation jumped over $2 billion. Danke Apartment, whose name means “eggshell” in Chinese, closed the Series C round led by returning investor Tiger Global Management and newcomer Ant Financial, Alibaba’s e-payment and financial affiliate controlled by Jack Ma. Four years ago, Beijing-based Danke set out with a mission to provide more affordable housing for young Chinese working in large urban centers. It applies

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Nexon founder hints at plan to sell his $9B majority share in gaming giant – TechCrunch

Nexon founder hints at plan to sell his $9B majority share in gaming giant – TechCrunch

The founder of Korea’s Nexon, one of the biggest gaming companies on the planet, today appeared to acknowledge his intention to sell his controlling interest for around $9 billion. The divestment has been a hot rumor after a report from newspaper Korea Economic Daily this week [via Reuters] suggested that Jung-Ju Kim, who founded Nexon back in 1989, is moving to sell nearly all of his holdings in the firm, which is listed on the Tokyo stock exchange. Kim, the paper claimed, is tired of the

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Alibaba-backed Hellobike bags new funds as it marches into ride-hailing – TechCrunch

Alibaba-backed Hellobike bags new funds as it marches into ride-hailing – TechCrunch

2018 has been a rough year for China’s bike-sharing giants. Alibaba-backed Ofo pulled out of dozens of international cities as it fought with a severe cash crunch. Tencent-backed Mobike puts a brake on expansion after it was sold to neighborhood services provider Meituan Dianping. But one newcomer is pedaling against the wind. Hellobike, currently the country’s third-largest bike-sharing app according to Analysys data, announced this week that it raised “billions of yuan” ($1 = 6.88 yuan) in a new round. The

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China’s Tencent Music raises $1.1 billion in downsized US IPO – TechCrunch

Tencent Music, China’s largest streaming company, has raised $1.1 billion in a U.S. IPO after it priced its shares at $13 a piece ahead of a listing on the Nasdaq. That makes it one of the largest tech listings of the year, but the pricing is at the bottom end of its $13-$15 range indicating that the much-anticipated IPO has felt the effects of an uncertain market. Indeed, the company is said to have paused the listing process, which it

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China’s NetEase raises $600M for its music streaming business – TechCrunch

China’s NetEase raises $600M for its music streaming business – TechCrunch

As Tencent Music, China’s largest streaming firm, reportedly stalls on its proposed U.S. IPO, one of its closest challengers is doubling down. NetEase Cloud Music, a rival operated by games and publishing giant NetEase, just closed a fresh $600 million injection from a bevy of investors that include Baidu and General Atlantic, the company announced this week. NetEase will maintain a majority share in the company following this deal although it isn’t clear what the valuation is. The business is already

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Go-Jek is close to launching a ride-hailing service in Singapore – TechCrunch

Go-Jek is close to launching a ride-hailing service in Singapore – TechCrunch

Indonesia’s ride-sharing startup Go-Jek plans to land in Singapore, its arch-rival Grab’s HQ, as soon as this month as its regional expansion program gains speed, TechCrunch has come to understand. Go-Jek has grown to become a $5 billion business that’s backed by the likes of Google and Tencent without venturing out of Indonesia, where it original motorbike taxi-hailing app has fanned out to cover cars, on-demand services, payments and more. But it decided to expand in Southeast Asia following Uber’s

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China’s Didi Chuxing launches taxi-hailing service in Japan – TechCrunch

China’s Didi Chuxing launches taxi-hailing service in Japan – TechCrunch

China’s Didi Chuxing is fighting fires at home around passenger safety, but overseas the ride-hailing giant has moved into another new market after its taxi-booking service began operations in Japan. The service has gone live in Osaka, the city of nearly nine million people, and parts of the surrounding area including Kansai International Airport. The Didi Japan app links passengers up with drivers from 10 local taxi companies, and Didi said it will use an AI-based dispatch and fleet management system

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Uber and Grab hit with $9.5M in fines over ‘anti-competitive’ merger – TechCrunch

Uber and Grab hit with $9.5M in fines over ‘anti-competitive’ merger – TechCrunch

Uber and Grab have been hit with combined fines of $9.5 million after their merger deal was found to have violated Singapore’s anti-competition laws. Grab acquired (and then merged/closed) Uber’s Southeast Asia business in March, but the Competition Commission of Singapore today declared the deal is “anti-competitive” following a months-long investigation into its impact on Singapore. The CCCS levied an SG$6,582,055 (US$4.8 million) fine on Uber and an SG$6,419,647 (US$4.7 million) fine on Grab, but it won’t unwind the deal,

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Golden Gate Ventures closes new $100M fund for Southeast Asia

Golden Gate Ventures closes new $100M fund for Southeast Asia

Singapore’s Golden Gate Ventures has announced the close of its newest (and third) fund for Southeast Asia at a total of $100 million. The fund hit a first close in the summer, as TechCrunch reported at the time, and now it has reached full capacity. Seven-year-old Golden Gate said its LPs include existing backers Singapore sovereign fund Temasek, Korea’s Hanwha, Naver — the owner of messaging app Line — and EE Capital. Investors backing the firm for the first time through

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