Author: Deal Street Asia Online News

Alibaba investor Lead Edge Capital raises $150m to invest in listed technology firms …

Lead Edge Capital, which has backed Uber Technologies Inc and Alibaba Group, has raised $150 million through a new fund to invest in publicly-listed software and internet companies, the venture said on Wednesday. In a statement seen by Reuters ahead of its official release, New York City-based Lead Edge said the new fund is expected… Continue reading Alibaba investor Lead Edge Capital raises $150m to invest in listed technology firms …

Indian software testing firm BrowserStack raises $200m, joins unicorn club …

Cloud-based software testing platform BrowserStack said on Wednesday it raised $200 million in a funding round that valued the company at $4 billion, joining the unicorn club for startups. The funding round was led by San Francisco-based technology investment firm BOND, which has backed companies like Airbnb Inc, DoorDash, and Facebook Inc, and included venture capital firms… Continue reading Indian software testing firm BrowserStack raises $200m, joins unicorn club …

China to unveil tough rules to regulate $120b private tutoring industry

China is poised to unveil a much tougher than anticipated crackdown on the country’s $120 billion private tutoring industry, four sources told Reuters, including trial bans on vacation tutoring and restrictions on advertising. The new rules, which aim to both to ease pressure on school children and boost the country’s birth rate by lowering family living… Continue reading China to unveil tough rules to regulate $120b private tutoring industry

Chinese regulator approves first wholly foreign-owned money market broker

China‘s banking and insurance regulator‘s Beijing office approved to launch the country’s first wholly foreign-owned money market broker. The company, Ueda Yagi Money Broking (China) Co Ltd, will be China‘s sixth money broking firm, which is entitled to operate brokerage business in forex, money, and bond markets. Reuters Go to Source

India Digest: Vedantu eyes $150m funding; Tiger Global may invest in Spinny …

Edtech startup Vedantu is in initial talks with several new investors to raise $150 million in a new funding round. Separately, Tiger Global is in talks to lead a funding round in Gurugram-based used car retailer Spinny. Vedantu eyes $150m fresh funding Edtech startup Vedantu is in initial talks with several new investors including Owl… Continue reading India Digest: Vedantu eyes $150m funding; Tiger Global may invest in Spinny …

Indonesia’s OTT firm Asia Vision Network merges with SPAC to launch US IPO …

Indonesia’s PT Asia Vision Network (AVN) announced its plans to go in for listing through a merger with NASDAQ-listed SPAC Malacca Straits Acquisition Company (MLAC). AVN, a wholly-owned subsidiary of MNC Vision Networks Tbk (IPTV), has submitted a draft to the US Securities and Exchange Commission on the same. The business combination is subject to… Continue reading Indonesia’s OTT firm Asia Vision Network merges with SPAC to launch US IPO …

Indonesian e-commerce firm Bukalapak seeks to raise up to $800m in IPO

Bukalapak, Indonesia’s No. 4 e-commerce firm, is keen to raise as much as $800 million in an IPO in August, two people with knowledge of the matter said, in what is likely to be the biggest by a startup in the Southeast Asian nation. Tapping a sharp pickup in investor interest in Southeast Asia’s rapidly… Continue reading Indonesian e-commerce firm Bukalapak seeks to raise up to $800m in IPO