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Posts filtered by tags: Asia[x]


 

Tesla to recall 14,000 Model S cars in China over faulty Takata airbags

China’s top market regulator said on Friday that Tesla will recall a total of 14,123 imported Model S vehicles in the country over potentially deadly airbags. The recall is part of an industry-wide crackdown on Takata-made front passenger airbags, which involves roughly 37 million vehicles including more mainstream brands such as Toyota and Ford, as noted by the United States Department of Transportation. These defective airbags use a propellant that might rupture the airbag and cause serious in...
Tags: Asia, China, Cars, US, Tech, Tesla, Model, Palo Alto, Beijing, Automotive, United States, Airbags, Ford, Shanghai, Transport, Automotive Industry


New policy puts revenue squeeze on China’s payments giants

The era that saw China’s mobile payments providers making handsome interest returns on client money has officially ended. Starting this week, non-bank payments companies must place 100 percent of their customer deposit funds under centralized, interest-free accounts as Beijing moves to rein in financial risks. In the past, third-party payments firms were allowed to hold pre-paid sums from buyers for a short period of time before transferring the money to merchants. This layout allowed companies ...
Tags: Asia, China, Insurance, Tech, Banking, E-commerce, Beijing, Alibaba, Tencent, Bank, Payments, Alibaba Group, Ant Financial, Online Payments, Financial Services, Mobile Payment


India’s Ola is adding a monthly billing option for its ride-hailing customers

Ola, the ride-hailing service battling Uber in India, is introducing credit services to its users as it moves closer to a major new funding round. Today the company took the wraps off Ola Money Postpaid, a service that builds on Ola’s existing payment service — which can be used to pay rides and also third-party services — but offering a credit facility without additional charges. Essentially, the postpaid service lets passengers accumulate rides on Ola and then pay for 15-days of charges ...
Tags: Google, Food, TC, Uber, Asia, Australia, Collaborative Consumption, India, Softbank, Tech, Ceo, United Kingdom, Transport, New Zealand, Electricity, Online Payments


Byju’s buys Osmo for $120M to add blended learning to its $4B digital education business

Weeks after it raised a massive $540 million funding round, Indian education unicorn Byju’s is on the M&A path. The company announced today it has snapped up U.S-based Osmo, a startup that develops apps for kids that use offline input, in a deal worth $120 million. Osmo has raised over $30 million from investors that include Mattel, Sesame Workshop, Upfront Ventures, K9 Ventures and Accel. They were offered a cash option but elected for an all-stock payout, Osmo CEO Pramod Sharma told T...
Tags: Fundings & Exits, TC, Asia, Technology, Education, India, Funding, Kindle, Tech, Ceo, Ipads, United States, Tencent, Bank, Cosmo, TechCrunch


On-demand telehealth company Tyto Care adds Sanford Health, Itochu and Shenzhen Capital Group as strategic investors

Tyto Care, a telehealth company that enables physicians to conduct on-demand remote exams, announced today that it has added $9 million to its Series C, bringing the round’s total to $33.5 million. The new funding comes from strategic investors Sanford Health, Itochu, and Shenzhen Capital Group. First announced last year, the oversubscribed Series C was led by Ping An Global Voyager Fund, run by the Chinese financial conglomerate. Itochu, Shenzhen Capital Group, and Sanford Health, the largest r...
Tags: TC, Asia, Europe, Japan, New York, China, Medical, Tech, Canada, United States, Healthcare, Food And Drug Administration, On-demand, Japan China, Sanford Health, Gilad


Instamojo raises $7M to help SMEs and ‘micro-entrepreneurs’ in India sell online

In India, startups are quietly building the tools and platforms to enable a different kind of gig economy: one that allows ‘micro-entrepreneurs’ to tap growing access to the internet to sell goods and services online. One such figure helping this burgeoning economy is Instamojo, a seven-year-old Bengaluru-based startup, has pulled in a $7 million Series B as it aims to grow its reach to over one million SMEs and micro-SMEs in India. Founded in 2012 as a side-project, Instamojo offers independ...
Tags: Fundings & Exits, TC, Facebook, Ecommerce, Asia, Southeast Asia, India, Funding, Africa, Tech, Economy, King, UPI, Bengaluru, Paytm, Kalaari Capital


Grab moves to offer digital insurance services in Southeast Asia

Grab is Southeast Asia’s top ride-hailing firm, thanks in no small part to its acquisition of Uber’s local business last year, but the company also houses an ambitious fintech arm, too. That just added another vertical to its business after Grab announced it is teaming up with China’s ZhongAn to introduce insurance. Grab and ZhongAn International, the international arm of the Chinese insurance giant, said today they will create a joint venture that will provide digital insurance services acro...
Tags: Google, Uber, Asia, Indonesia, China, Southeast Asia, Singapore, Collaborative Consumption, India, Softbank, Insurance, Tech, Thailand, Tencent, Vietnam, Meituan


Digital insurance firm Singapore Life raises $33M ahead of Southeast Asia expansion

Digital insurance firm Singapore Life has started 2019 with a bang after it raised $33 million across two investments as it eyes new market expansions in Southeast Asia. The company pulled in $20 million from NYSE-listed Aflac Investment on December 31 and then it added a further $13 million via an investment from Aberdeen Standard Investments, a Scotland-based asset management firm with 50 offices worldwide. These deals take the company to $97 million to date, which included a massive $50 milli...
Tags: Fundings & Exits, Asia, Scotland, Finance, China, Southeast Asia, Singapore, Funding, Tech, Asia Pacific, Hsbc, Alibaba, Tencent, Head, Nyse, Asset Management


TikTok is giving China a video chat alternative to WeChat

ByteDance, the world’s most-valued startup, just launched a new social media product under its Douyin brand in what many people see as a serious attempt to challenge WeChat. Tencent has long dominated China’s social networking space with WeChat and QQ. WeChat claims to have one billion monthly active users worldwide, most of whom are in China. Its older sibling QQ managed to survive the country’s transition from PC to mobile and still have a good chunk of 800 million MAUs at last count. Th...
Tags: Social, Apps, Asia, China, Social Media, Tech, E-commerce, Alibaba, Tencent, WeChat, Weibo, Messaging Apps, Social Media Platforms, Snap, Smartisan, Weibo China


American Express acquires Japan-based restaurant booking service Pocket Concierge

American Express has made an acquisition in Japan after it picked up restaurant booking service Pocket Concierge in an undisclosed deal. The acquisition was announced in Japanese and in English by James Riney, the head of 500 Startups Japan which invested in Pocket Concierge as one of its first deals in the country. The service was launched in 2013 to help book quality restaurants, including those that are Michelin-starred and others that have months-long waitlists for reservations. It curren...
Tags: Cake, Fundings & Exits, Asia, Chef, Japan, Money, Finance, Funding, Tech, Economy, American Express, Michelin, 500 Startups, Head, James Riney, Opentable


TSMC's $39 Billion Wipeout Will Only Get Worse, Analysts Say

TSMC will struggle to plug the hole left by Apple Inc.’s declining smartphone orders in 2019, according to Sanford C. Bernstein’s Mark Li, who has told clients to prepare for the firm’s first annual profit drop in eight years. CGS-CIMB Securities’ Peter Chan, whose recommendation in October to sell the shares proved prescient, says TSMC’s still-high valuations will spook tech investors into owning cheaper alternatives in Asia and the U.S. instead. While a downturn is widely expected after Appl...
Tags: Apple, Asia, Science, TSMC, Apple Inc, Sanford C Bernstein, Mark Li, Peter Chan, CIMB Securities


WeChat is quietly ranking user behavior to play catch-up with Alibaba

Over one billion people leave behind trails of information on WeChat every day as they use the messenger to chat, read, shop, hail rides, rent umbrellas and run many other errands. And the Tencent app has quietly started using this type of signal to determine whether a user is worthy of perks such as deposit-free renting services. The rating system, which the company calls the “WeChat Payments Score” in Chinese, soft-launched last November across eight cities and has been piloting on a small ...
Tags: Apple, Messenger, Asia, Government, China, Tech, Beijing, Alibaba, Tencent, WeChat, Mobile Payments, Bank, Alipay, Payments, Alibaba Group, Ant Financial


Apple buys 50 business-class seats every day on flights to Shanghai, according to a confidential United sign (AAPL, UAL)

Apple buys 50 business-class seats every day from San Francisco to Shanghai, spending over $150 million a year on United Airlines. That's according to a photo of a "confidential" United sign posted to Twitter. Apple needs to fly its employees to Asia to keep an eye on its electronics supply chain. Some frequent-flyer miles are stacking up in Cupertino, California. Apple spends $150 million on a single airline each year, according to a photo of a United promotional sign posted to Twitter by L...
Tags: Apple, Google, Asia, Hong Kong, Cook, London, China, San Francisco, Trends, Taiwan, Shanghai, Tim Cook, SEC, Sfo, United, United Airlines


TSMC's $43 Billion Wipeout Will Only Get Worse, Analysts Say

TSMC will struggle to plug the hole left by Apple Inc.’s declining smartphone orders in 2019, according to Sanford C. Bernstein’s Mark Li, who has told clients to prepare for the firm’s first annual profit drop in eight years. CGS-CIMB Securities’ Peter Chan, whose recommendation in October to sell the shares proved prescient, says TSMC’s still-high valuations will spook tech investors into owning cheaper alternatives in Asia and the U.S. instead. While a downturn is widely expected after Appl...
Tags: Apple, Asia, Science, TSMC, Apple Inc, Sanford C Bernstein, Mark Li, Peter Chan, CIMB Securities


Alibaba taps Kabbage to loan up to $150K to SMBs after it quietly acquired OpenSky to ramp in North America

Alibaba’s long-term ambition to grow its business in the US is taking another step forward. To increase sales to US small businesses, the company has partnered with Kabbage, the Softbank-backed unicorn that provides loans to SMBs using big data and machine learning to determine eligibility faster than a traditional bank lender, to provide up to $150,000 of financing at the point of sale on Alibaba.com as part of a new program called Pay Later. The move comes on the heels of an interesting, if sl...
Tags: Amazon, TC, Ecommerce, Asia, Finance, China, Softbank, US, Tech, E-commerce, Alibaba, Dallas, Alipay, North America, Detroit, Jack Ma


Geoengineering could solve our climate problems if anyone allowed it

This weekend, I finished reading Oliver Morton’s The Planet Remade (thanks to reader Eliot Peper for recommending it). Morton has a multitude of goals with the book, but there were two I think are deeply valuable. First, geoengineering is a plausible approach to solving our climate problems this century, and second, engineering the climate generates tough policy challenges, but also opportunities to make the planet more equitable. TechCrunch is experimenting with new content forms. This is a rou...
Tags: Asia, Europe, Hollywood, Science, California, Government, China, Wordpress, Book Review, Tech, Policy, Beijing, West, Nato, Poland, Silicon Valley


Apple buys 50 business-class seats every day on flights to Shanghai, according to a leaked 'confidential' United sign (AAPL, UAL)

Apple buys 50 business class flights every day from San Francisco to Shanghai, China, spending over $150 million per year on United Airlines.  That's according to a photo of a "confidential" United sign posted to Twitter.  Apple needs to fly its employees to Asia in order to keep an eye on its electronics supply chain.  There are some frequent flyer miles stacking up in Cupertino. The iPhone giant spends $150 million on a single airline per year, according to a photo of a United promotional ...
Tags: Apple, Google, Amazon, Asia, Hong Kong, Cook, London, China, San Francisco, Trends, Shanghai, Tim Cook, SEC, Sfo, Cupertino, United


Apple HomePod comes to China at $400 amid iPhone sales woes

Apple is finally launching HomePod in China, but the timing is tricky as the premium device will have to wrestle with local competitors and a slowing economy. The firm said over the weekend that its smart speaker will be available in Mainland China and Hong Kong starting January 18, adding to a list of countries where it has entered including US, UK, Australia, Canada, France, Germany, Mexico and Spain. The Amazon Echo competitor, which launched in mid-2017, is already available to Chinese...
Tags: Iphone, Apple, Google, Amazon, Asia, Hong Kong, Hardware, China, Siri, Tech, Spain, Artificial Intelligence, Alibaba, Xiaomi, Tencent, Baidu


Netflix analysts answer critical questions about the streaming giant and the future of the industry (NFLX)

Netflix jumped to a three-month high Friday following bullish commentary from UBS. The firm's analysts broke down several key questions surrounding Netflix and the future of streaming itself. The analysts also outlined their long-term view that Netflix should achieve higher margins than Wall Street currently expects as its content spend is now at a scale of the "major media companies." Watch Netflix trade live. Netflix shares soared to a three-month high Friday on the back of a bullish UBS r...
Tags: Google, Asia, Taylor Swift, India, US, Trends, Bloomberg, Netflix, Ubs, Goldman Sachs, Hulu, Latin America, Blackrock, Amazon Prime Video, Sheridan, NFLX


Daily Crunch: Bing has a child porn problem

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here: 1. Microsoft Bing not only shows child pornography, it suggests it A TechCrunch-commissioned report has found damning evidence on Microsoft’s search engine. Our findings show a massive failure on Microsoft’s part to adequately police its Bing search engine and to prevent its suggested searches and images fr...
Tags: Social, Fundings & Exits, Startups, TC, Cloud, Apps, Asia, Hardware, Microsoft, Developer, Entertainment, Government, Halo, Samsung, Tech, Nasa


The US continues to hammer Chinese tech

It’s another week, and another bevy of hits on Chinese tech by the U.S. government. Let’s get up to speed, plus a request for startup lawyer recommendations. TechCrunch is experimenting with new content forms. This is a rough draft of something new — provide your feedback directly to the author (Danny at [email protected]) if you like or hate something here. Venture capital’s leading advocate NVCA pushes for narrower restrictions on foreign investment Let’s start with the most exciting subj...
Tags: Asia, New York, Congress, Washington Post, Government, China, Boston, Softbank, US, America, Tech, Policy, United States, House, Venture Capital, Tencent


The U.S. continues to hammer Chinese tech

It’s another week, and another bevy of hits on Chinese tech by the U.S. government. Let’s get up to speed, plus a request for startup lawyer recommendations. TechCrunch is experimenting with new content forms. This is a rough draft of something new — provide your feedback directly to the author (Danny at [email protected]) if you like or hate something here. Venture capital’s leading advocate NVCA pushes for narrower restrictions on foreign investment Let’s start with the most exciting subj...
Tags: Asia, New York, Congress, Washington Post, Government, China, Boston, Softbank, America, Tech, Policy, United States, House, Venture Capital, Tencent, Silicon Valley


Xiaomi’s five-year plan is a $1.5 billion bet on smart homes

Xiaomi, the Chinese company best known for budget phones, is betting big on a future of connected homes. It plans to plough at least 100 billion yuan, or $1.48 billion, into the so-called “AIoT” sector over the next five years, founder and chief operating office Lei Jun announced on Friday. AIoT, short for “AI + IoT,” is an upgrade from devices connected to the internet, known as the Internet of Things. AIoTs are intelligent, run on automated systems and can learn from users’ habits, like ...
Tags: Asia, Hardware, China, Funding, Tech, Smartphone, Smartphones, Xiaomi, Ikea, Baidu, Huawei, Operating System, Lei Jun, Smart Devices, Voice Assistant, Lei


An unsecured database exposed the personal details of 202M job seekers in China

The personal details belonging to more than 202 million job seekers in China, including information like phone numbers, email addresses, driver licenses and salary expectations, were freely available to anyone who knew where to look for as long as three years due to an insecure database. That’s according to findings published by security researcher Bob Diachenko who located an open and unprotected MongoDB instance in late December which contained 202,730,434 “very detailed” records. The database...
Tags: Security, Asia, Craigslist, China, Tech, Spokesperson, Password, Computing, Search Engine, Driver, Github, Mongodb, Nosql, Edge, Data Management, IPS


World’s most valuable AI startup SenseTime unveils self-driving center in Japan

The world’s highest-valued artificial intelligence startup SenseTime has set foot in Japan. The Beijing-based firm announced on Friday that it just opened a self-driving facility in Joso, a historic city 50 kilometers away from Tokyo where it plans to conduct R&D and road test driverless vehicles. The initiative follows its agreement with Japanese auto giant Honda in 2017 to jointly work on autonomous driving technology. SenseTime, which is backed by Alibaba and last valued at more than $4.5 ...
Tags: Transportation, Asia, Japan, China, Softbank, Tech, Bloomberg, Artificial Intelligence, Beijing, Automation, Alibaba, Transport, Tokyo, Self-driving Cars, Baidu, Honda


The next phase of WeChat

Thousands of people gathered Wednesday night in a southern Chinese city for Zhang Xiaolong, Tencent’s low-key executive who built WeChat eight years ago. It’s no longer adequate to call the app a messenger, for it now enables myriads of functions that infiltrate Chinese people’s private and public lives. It wasn’t just the tech circles tuning into the event. Civil servants, real-estate agents, salon owners, fruit vendors, teachers, artists — anyone who use WeChat to facilitate daily work — wa...
Tags: Social, Apps, Messenger, Asia, Social Networking, China, Tech, Alibaba, Tencent, WeChat, Mobile Payments, Search Engine, App-store, Alipay, Online Payments, Social Network


Mr Jeff bags $12M Series A to replace trips to the laundromat

If you thought the on-demand laundry space had run out of startup steam here’s a bit of a conditioner: Madrid-based startup, Mr Jeff, has bagged a $12M Series A, led by All Iron Ventures. The 2016-founded firm currently offers home laundry and dry cleaning services, including on-demand and monthly subscription options, in seven countries, with a focus on LatAm. Last August it acquired Brazilian laundry franchise, Lava é Leva, to move into another market in the region. The franchise model sets th...
Tags: Fundings & Exits, Startups, Apps, Asia, Africa, Tech, Madrid, Jeff, Kim Jung, Panama Costa Rica, Recent Funding, All Iron Ventures, Mr Jeff, On-demand Laundry, Uruguay Prior, Albert Armengol


Uber’s India rival Ola nears $6 billion valuation ahead of huge funding round

Ola, India’s local rival to Uber, has seen its valuation jump to nearly $6 billion as it prepares to take in a large round of financing. The ride-hailing firm, which was founded in 2010, has raised around $3.3 billion from investors to date, and it topped that up a little this week. Ola pulled in 520 crore (around $75 million) from existing investor Steadview Capital, according to filings provided to TechCrunch by business signals platform paper.vc. The paperwork indicates that Ola’s bu...
Tags: Fundings & Exits, TC, Uber, Asia, Australia, Ipo, Collaborative Consumption, India, Softbank, Funding, Tech, Automotive, New Zealand, Tencent, Foodpanda, Food Delivery


Emeritus, which develops online courses with universities, raises $40M

The funding streak for educational startups in Asia continues into 2019 after Emeritus, a U.S-Indian company that partners with universities to offer digital courses, landed a $40 million Series C round led by Sequoia India. The deal includes participation from existing investor Bertelsmann India Investments, and it takes Emeritus — founded in 2010 as offline management program company Eruditus — to around $50 million from investors to date. It also follows notable rounds in December for Indi...
Tags: Fundings & Exits, TC, Asia, Technology, Education, Boston, Singapore, India, Funding, Tech, Mit, Dubai, Bertelsmann, Mumbai, Columbia, Coursera


OneLogin snares $100M investment to expand identity solution into new markets

OneLogin is not a young startup by any means. The identity access management company was founded in 2009 and has watched while companies like Ping Identity, Duo Security and Okta had tidy exits. But as CEOs are fond of pointing out, the total addressable market is large and where investors see a chance, they take it. Today, the company announced a $100 million investment. The latest round was led by new investors Greenspring Associates and Silver Lake Waterman, the late-stage investing arm of Si...
Tags: Cloud, Asia, Europe, Enterprise, Microsoft, Okta, Ipo, Funding, US, Tech, Onelogin, Brooks, Scale Venture Partners, Greenspring Associates, Silver Lake Waterman, CRV



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