Intel said on Friday it will invest $253.5 million in Jio Platforms, joining a roster of high-profile investors including Facebook, General Atlantic, and Silver Lake that have backed India’s top telecom operator in recent months. The American chipmaker’s investment arm said it is acquiring a 0.39% stake in Jio Platforms, giving the Indian firm a […] …Continue Reading

India’s Reliance Jio Platforms, which recently concluded a $15.2 billion fundraise run, is ready to enter a new business: Video conferencing. On Thursday evening, the firm — backed by Mukesh Ambani, India’s richest man — formally launched JioMeet, its video-conference service that looks uncannily like Zoom. Like Zoom and Google Meet, JioMeet offers unlimited number […] …Continue Reading

In Indonesia, there are about 60 million “micro-merchants,” typically small store owners who sell food and other staple items, and have close relationships with their customers. Many often extend informal lines of credit to shoppers, but much of their financial tracking is still done with pen and paper ledgers. Chinmay Chauhan and Abhinay Peddisetty, the […] …Continue Reading

Zetwerk, an Indian business-to-business marketplace for manufacturing items, has raised $21 million in a new financing round as it looks to scale its operations in the nation and help local businesses find customers overseas. San Francisco-based investment firm Greenoaks led the two-year-old Indian startup’s Series C financing round. Existing investors Accel, Kae Capital, Lightspeed and […] …Continue Reading

Two days after India blocked 59 apps developed by Chinese firms, Google and Apple have started to comply with New Delhi’s order and are preventing users in the world’s second largest internet market from accessing those apps. UC Browser, Shareit, and Club Factory and other apps that India has blocked are no longer listed on […] …Continue Reading

Facebook is no longer betting on Lasso, an app it launched a year and a half ago, to take on TikTok . The social juggernaut’s TikTok clone is shutting down on July 10, Lasso alerted users on Wednesday. Launched in late 2018, Lasso was seen as Facebook’s answer to TikTok that’s gained ground with young users, […] …Continue Reading

Kevin Mayer, the chief executive of TikTok said on Wednesday that the popular short-form video app complies with “all data privacy and security requirements under Indian law,” two days after New Delhi banned 59 apps including Mayer’s citing security concerns. Addressing TikTok’s 2000 employees in India on Wednesday, Mayer said ByteDance, the parent firm of […] …Continue Reading

Facebook Avatars, which lets users customize a virtual lookalike of themselves for use as stickers in chat and comments, is now available in India, the social juggernaut’s biggest market by users account. The American firm said Tuesday it had launched Avatars to India as more social interaction moves online amid a nationwide lockdown in the […] …Continue Reading

You can now tip your Ola driver. The Indian ride-hailing giant said on Tuesday that it has rolled out this feature to its users in India, Australia, New Zealand, and the United Kingdom — all the nations where it currently operates. Ola said riders in each market will see a range of denominations they can […] …Continue Reading

sThe United States government began measures today to end its special status with Hong Kong, one month after Secretary of State Michael Pompeo told Congress that Hong Kong should no longer be considered autonomous from China. The new actions include suspending export license exceptions for sensitive U.S. technology and ending the export of defense equipment […] …Continue Reading

Amazon said on Monday it has eliminated all single-use plastic in its packaging across its fulfillment centers in India, delivering on a pledge it made last year to achieve this goal by June. The American e-commerce group said it had replaced packaging materials such as bubble wraps with paper cushions and was also using “100% […] …Continue Reading

Zuoyebang, a Beijing-headquartered startup that runs an online learning app, said on Monday it has raised $750 million in a new financing round as investors demonstrate their continued trust in — and focus on — Asia’s booming edtech market. U.S. investment firm Tiger Global and Hong Kong-based private equity firm FountainVest Partners led the six-year-old […] …Continue Reading

Sometimes you just can’t get a [L]uckin’ break. After announcing this morning that it is ending its fight to stay listed on Nasdaq, China-based coffee chain and delivery company Luckin Coffee announced in a filing with the SEC that it is requiring that its chairman, Lu Zhengyao, resign. Luckin Coffee will unluckin’ly delist from Nasdaq […] …Continue Reading

For Amazon, it’s never too late to try something in India. The e-commerce giant is exploring ways to further spread its tentacles in the largely offline, technology-free neighborhood stores in one of its key overseas markets. The American firm’s latest attempt is called “Smart Stores.” For this India-specific program, Amazon is providing physical stores with […] …Continue Reading

SoftBank Group founder Masayoshi Son said on Thursday he is leaving the board of Jack Ma’s Chinese e-commerce giant Alibaba Group today, a month after Ma left the board of Son’s technology group. Son said he sees the move as “graduating” from Alibaba Group’s board, his most successful investment to date, as he swiftly moved […] …Continue Reading

One of China’s most valuable artificial intelligence chipmakers Cambricon is one step closer to its initial public offering, and its prospectus reveals a rare snapshot of where Chinese companies stand in relation to their international counterparts in this critical field. Cambricon got the nod in early June to list on the Star Market, China’s new […] …Continue Reading