Foodpanda has partnered with Singapore-based firm TabSquare to offer digital solutions for restaurant management. Meanwhile, TikTok says it will not open any cross-border business in Indonesia following criticism from ministers. Foodpanda partners with TabSquare to digitise restaurant management Food delivery service provider Foodpanda has partnered with Singapore-based TabSquare to offer digital solutions for restaurant management, … Continue reading SEA Digest: Foodpanda partners TabSquare; TikTok says no ‘Project S’ in Indonesia
Author: Deal Street Asia Online News
HK-based Value Partners to set foot in Indonesia in partnership with Aldiracita Group
Hong Kong-based investment firm Value Partners Group has announced a partnership with Indonesian investment firm Aldiracita Group (Aldiracita Sekuritas and STAR Asset Management) to mark its footprint in the archipelago. Under the partnership, Sensible Asset Management Hong Kong Limited, a subsidiary of Value Partners, will acquire a 29.99% stake in STAR Asset Management. Conversely, Aldiracita… Continue reading HK-based Value Partners to set foot in Indonesia in partnership with Aldiracita Group
Carousell’s revenue surges 67% in 2022 but losses widen on higher expenses
Singapore-based classifieds firm and unicorn Carousell booked $82.5 million in revenues for the financial year ended December 31, 2022, a 67% increase from the previous year, show regulatory filings. However, the company’s losses widened in 2022 as expenses also rose, show the filings to Singapore’s Accounting and Corporate Regulatory Authority (ACRA). Classified advertising—about $43.6 million,… Continue reading Carousell’s revenue surges 67% in 2022 but losses widen on higher expenses
Australia fines Facebook parent Meta $14m for undisclosed data collection
An Australian court ordered Facebook owner Meta Platforms to pay fines totalling A$20 million ($14 million) for collecting user data through a smartphone application advertised as a way to protect privacy without disclosing its actions. Australia’s Federal Court also ordered Meta, through its subsidiaries Facebook Israel and the now-discontinued app, Onavo, to pay A$400,000 in… Continue reading Australia fines Facebook parent Meta $14m for undisclosed data collection
Ant Group plans restructuring, paving way for Hong Kong IPOIt can prepare for a public listing in HK instead of reviving the dual Shanghai-Hong Kong l…
Jack Ma-backed Ant Group is planning a restructuring that will break off some non-core operations of its China financial-related business, Bloomberg News reported on Tuesday, citing people familiar with the matter. The Alibaba Group affiliate is looking at excluding its blockchain, database management services and international businesses from a main entity that will be used… Continue reading Ant Group plans restructuring, paving way for Hong Kong IPOIt can prepare for a public listing in HK instead of reviving the dual Shanghai-Hong Kong l…
GoTo launches GoPay app to draw non-Gojek, Tokopedia customers
GoTo Financial, GoTo’s financial technology business unit, has officially launched the GoPay app in Indonesia to attract non-Gojek and Tokopedia users. The official launch follows an extensive pilot programme wherein the GoPay app was introduced in various cities across Indonesia starting April this year. “With the GoPay app, we aim to eliminate the barriers to… Continue reading GoTo launches GoPay app to draw non-Gojek, Tokopedia customers
GL Ventures-backed Facishare bags funds and 49 deals from Greater China worth over $1.2b
Customer relationship management (CRM) software provider Facishare Technology has secured $30 million in its latest funding round led by Guiyang Venture Capital, the investment vehicle of state-affiliated Guiyang Industrial Investment. The Beijing-headquartered firm said that it has maintained a 40% business growth in the past three years, according to a company release on July 21. … Continue reading GL Ventures-backed Facishare bags funds and 49 deals from Greater China worth over $1.2b
Qatar’s QIA in talks for minority stake in India’s Reliance Retail
Qatar’s sovereign wealth fund is in talks to buy a minority stake in the retail arm of Indian billionaire Mukesh Ambani-led conglomerate Reliance Industries, the Financial Times reported on Wednesday. The Qatar Investment Authority is considering a $1-billion investment in Reliance Retail Ventures, for a stake of about 1%, valuing the business at around $100… Continue reading Qatar’s QIA in talks for minority stake in India’s Reliance Retail
Isola Capital partners Singapore’s Fullerton to launch up to $400m fund in Q3The PE asset class will comprise about 60-80% of its portfolio.
Isola Capital, a Hong Kong-based asset management and family office platform, is launching a $300-400 million multi-strategy fund, which will be sub-advised by Singapore’s Fullerton Fund Management, in the third quarter of this year, its chief executive told DealStreetAsia. Go to Source
Charticle: 103 SE Asia-based open VC funds are currently looking to raise $10.4b
There are 103 open funds, managed by Southeast Asia-based VC firms, looking to raise a combined $10.4 billion as on June 30, 2023, show data from DealStreetAsia DATA VANTAGE‘s recent report SE Asia’s VC Funds: H1 2023 Review. The number of vehicles, looking to raise capital to invest in the region, has increased from H2… Continue reading Charticle: 103 SE Asia-based open VC funds are currently looking to raise $10.4b