RedMart is working with an investment bank on options including a possible sale of the grocer; the company is said to have reached out to potential buyers including Singapore supermarket chain NTUC Fairprice Co-operative Ltd. to gauge their interest,
Line Corp. plans to use part of the $1.3 billion it garnered from last month’s initial public offering to bankroll acquisitions of content and technology.
The investment by the venture arm of Japanese e-commerce and internet firm Rakuten Inc. comes as companies from Facebook Inc. to Tencent Holdings Ltd. experiment with chatbots that simulate conversations with customers, fulfilling requests for everything from dinner reservations to deliveries.
VC firms are pulling back across the globe, slashing investments in startups out of concern their deals may never pay off. Chua Kee Lock of Vertex Venture thinks it’s the perfect time to move in the opposite direction.
The deal comes days after Didi bought out Uber Technologies Inc.’s operations in China, ending a battle that has cost billions of dollars and allowing the U.S. company to focus its ambitions elsewhere. Grab CEO Anthony Tan said at the time he expected Uber to concentrate on the relatively untapped Southeast Asian market.
The world’s most valuable startup competes with Singapore-based Grab for ride-hailing customers in Southeast Asia, a region that also includes Malaysia and Vietnam, while also tackling Go-Jek in Indonesia and going head-to-head with Ola in India.
The billionaire is reinventing himself as an Asian venture capitalist and thinks he’s found a winner in little-known 99.co, a Singaporean house-hunting service founded by local wunderkind Darius Cheung.
Southeast Asia’s Internet economy, spanning online shopping to games and advertising, will surge sixfold to about $200 billion in the next decade.
It’s easy to spot the silver hair among Jungle Ventures’ gallery of startup founders. Look closer and you’ll find many have called the shots at banks and Fortune 500 outfits. While peers crave youthful upstart vision, Jungle Ventures openly courts corporate bigwigs wondering where to take their careers.
Houzz has started a dedicated website and mobile app for the affluent city state, the third country it’s entered in the Asia Pacific alongside Australia and Japan. About 150,000 people on the Southeast Asian island of 5.7 million already view its photo-rich site every month.