China’s Ministry of Industry and Information Technology (MIIT) said on Wednesday that 43 apps, including Tencent Holdings Ltd’s WeChat, were found to have illegally transferred user data, and ordered their parent companies to make rectifications. The move comes as Chinese authorities tighten regulatory oversight on a range of industry, with a particular emphasis on privacy… Continue reading China targets 43 apps including WeChat for breaking data transfer rules
Category: Tech News
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Brazil’s Kovi closes $104M Series B to make car ownership ‘more inclusive’ in LatAm
We sometimes take for granted that most anyone who wishes to become say, an Uber driver, can do so. But that assumption is a narrow view considering there are many people who would love to earn income in that way but can’t because of lack of car ownership (and all that goes with it) —… Continue reading Brazil’s Kovi closes $104M Series B to make car ownership ‘more inclusive’ in LatAm
RaRa Delivery gets $3.25M for its ambitious on-demand delivery plans in Indonesia
RaRa Delivery’s ambitious goal is to offer same-day deliveries in Indonesia without burning cash like many on-demand logistics providers. The company announced today it has raised $3.25 million in seed funding led by Sequoia Capital India’s Surge program and East Ventures. Other participants included 500 Startups, Angel Central, GK Plug and Play and angel investors… Continue reading RaRa Delivery gets $3.25M for its ambitious on-demand delivery plans in Indonesia
Spectrum TV is back on Roku devices over half a year after it was pulled
Charter Spectrum customers found themselves unable to download the Spectrum TV app from Roku’s Channel Store if they hadn’t done so before back in December. The two companies were unable to come to an agreement on the renewal of their contract, and it led Roku to pull the app from its store to prevent new… Continue reading Spectrum TV is back on Roku devices over half a year after it was pulled
Permira mandates Goldman Sachs for up to $2b sale of business services firm Tricor …
Private equity firm Permira has mandated Goldman Sachs to run a sale of business services company Tricor Group in a deal that could fetch up to $2 billion, three people with knowledge of the transaction told Reuters. The sale process is expected to kick off soon after an initial gauge of market interest, said one of the… Continue reading Permira mandates Goldman Sachs for up to $2b sale of business services firm Tricor …
China’s Baidu launches US dollar bond amid regulatory uncertainty at home
Chinese internet giant Baidu Inc is tapping debt markets with a two-tranche, U.S. dollar sustainability bond in a deal that could test global investor appetite for China tech assets as Beijing cranks up regulatory scrutiny. The search company on Wednesday launched a 5.5 year and 10-year U.S. dollar fixed rate senior unsecured sustainable notes transaction. It didn’t… Continue reading China’s Baidu launches US dollar bond amid regulatory uncertainty at home
Philippine supermarket operator AllDay Mart files to raise $119m in IPO
Philippine supermarket operator, AllDay Marts Inc, has filed for an up to 6 billion pesos ($119 million) initial public offering (IPO), the corporate regulator said on Wednesday, adding to a robust pipeline of share sales on the country’s bourse. AllDay Mart is planning to sell up to 7.5 billion shares, including the over-allotment option, at… Continue reading Philippine supermarket operator AllDay Mart files to raise $119m in IPO
Indian Thrasio-style venture UpScalio snags $42.5m from Presight Capital, others
Gurugram-based UpScalio, a five-month-old e-commerce brand investor and operator, has raised $42.5 million in its Series A funding round led by Presight Capital and an undisclosed global hedge fund, per an announcement. The startup’s funding round also saw participation of Heliad Equity Partners, MPGI, 468 Capital, Whiteboard Capital, alongside capital commitments from a consortium of… Continue reading Indian Thrasio-style venture UpScalio snags $42.5m from Presight Capital, others
S Korean online secondhand marketplace Danggeun Market raises $162m
South Korea’s Danggeun Market, the company behind secondhand marketplace Karrot, has raised $162 million in a Series D led by DST Global, the investment firm headed by billionaire Yuri Milner. Aspex Management and Reverent Partners joined the round while existing investors such as Goodwater Capital, Altos Ventures, SoftBank Ventures Asia, Kakao Ventures, Strong Ventures and… Continue reading S Korean online secondhand marketplace Danggeun Market raises $162m
BlackRock Real Assets buys stake in Korea’s Brite Energy, to inject $100m “over time” …
BlackRock Real Assets, the realty investment arm of global asset manager BlackRock, is set to acquire an equity stake in Korean solar development and investment company Brite Energy Partners (BEP), according to a press announcement on Wednesday. Financial details of the transaction were not disclosed. As part of the deal, BlackRock Real Assets will provide… Continue reading BlackRock Real Assets buys stake in Korea’s Brite Energy, to inject $100m “over time” …