Korean buyout firm VIG Partners on Friday announced that it has sold a 10% stake in Preed Life, a domestic pre-need funeral service provider, to Mastern Partners, the private equity arm of real estate asset manager Master Investment Management. Mastern acquired the minority stake for 50 billion won ($43 million), just 15 months after VIG… Continue reading Korean buyout firm VIG Partners sells 10% stake in Preed Life for $43m
Category: Tech News
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Shunwei backs Ultron Photonics and 13 more deal updates from Greater China
ResearchPremium Hangzhou-headquartered laser technology firm Ultron Photonics Inc has raised nearly 100 million yuan ($15 million) in its Series A round of financing led by Xiaomi’s Shunwei Capital. The Series A round funding was joined by Qitang Changhou Investment, a joint fund by state-owned Beijing E-town International Investment & Development and display control solutions provider… Continue reading Shunwei backs Ultron Photonics and 13 more deal updates from Greater China
Loot is a viral social network that looks like nothing you’ve ever seen
Today, let’s talk about the latest project from a co-founder of Vine and what it tells us about how the tech industry is evolving. This is a rare tech story where basically every fact of it has surprised me on some level. And while some of the ideas here are way out there — to… Continue reading Loot is a viral social network that looks like nothing you’ve ever seen
DoorDash workers protest outside CEO Tony Xu’s home demanding better pay, tip transparency and PPE
California DoorDash workers protested outside of the home of DoorDash CEO Tony Xu on Thursday, prompted by a recent California Superior Court Judge ruling calling 2020’s Proposition 22 unconstitutional. Prop 22, which was passed last November in California, would allow app-based companies like DoorDash, Uber and Lyft to continue classifying workers as independent contractors rather… Continue reading DoorDash workers protest outside CEO Tony Xu’s home demanding better pay, tip transparency and PPE
Musical instrument company Roli files for administration, will relaunch as Luminary
Roli, the modular musical instrument business backed by Pharrell Williams and Grimes, has entered administration in the UK, the company has confirmed. It will now relaunch as Luminary, with an emphasis on beginning rather than professional musicians, the company said. Luminary will be led by Roli founder and CEO Roland Lamb. Roli had approximately 70… Continue reading Musical instrument company Roli files for administration, will relaunch as Luminary
Amazon will reportedly release its own TVs in the US this year
If you shop for electronics on Cyber Monday this year, your options might include Amazon-branded TVs. According to Insider, the e-commerce giant is planning to launch its own TVs in the US as soon as October, just in time for the holiday shopping season. The project has reportedly been in development for almost two years… Continue reading Amazon will reportedly release its own TVs in the US this year
China’s plans for an SME stock exchange in Beijing fuel fears of a bourse war …
China’s plans to launch a new exchange in Beijing, announced by President Xi Jinping on Thursday, boosted shares in Chinese brokerages but knocked down Shenzhen start-up board ChiNext and shares of Hong Kong’s bourse amid fears of rising competition. Although China’s securities regulator said the planned Beijing stock exchange is based on the city’s existing New Third… Continue reading China’s plans for an SME stock exchange in Beijing fuel fears of a bourse war …
Mobile-commerce enabler Bikayi raises $10.8m led by Sequoia Capital India
Bikayi, a mobile-commerce enabler, has raised $10.8 million in a Series-A funding round, led by Sequoia Capital India. In August last year, the startup had raised $2 million as a part of its seed round led by Y Combinator. Aiming at scaling product offerings, Bikayi plans to use the funds to accelerate product development, acquisition,… Continue reading Mobile-commerce enabler Bikayi raises $10.8m led by Sequoia Capital India
Bangladeshi retail tech startup ShopUp raises $74.4m from Valar Ventures and others
Premium ShopUp, a Bangladesh-based startup that is trying to digitalise mom-and-pop shops in the country, has raised $74.4 million in a round led by Valar Ventures, according to Accounting and Corporate Regulatory Authority (ACRA) filings accessed by DealStreetAsia – DATA VANTAGE. Go to Source
Tesla aims to release $25,000 electric car in 2023, likely will not have a steering wheel
Elon Musk has told Tesla employees that the automaker is aiming to release its previously announced $25,000 electric car in 2023. The CEO hinted that it might not even be equipped with a steering wheel. At Tesla Battery Day last year, CEO Elon Musk announced that Tesla will be making a $25,000 electric car. The… Continue reading Tesla aims to release $25,000 electric car in 2023, likely will not have a steering wheel