Alibaba said to lead $1b funding for Chinese food startup

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The financing from Alibaba and Ant Financial will value Ele.me at $5.5 billion to $6 billion.

Emaar buys 51% in Rocket-backed Namshi for $151m

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Emaar is competing with Amazon that recently acquired leading Middle East online platform Souq


Indonesia: Grab launches next phase of $700m master plan; introduces GrabHitch

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Grab Indonesia has launched the second phase of its $700 million ‘Grab 4 Indonesia’ master plan, the company announced. Yesterday, the Singapore-based app introduced its first four-wheels social carpooling service – GrabHitch (Nebeng) Car – in the country. Nebeng is the Indonesian slang for hitching. The service is designed for… Read more »


India: Edutech startup Byju’s aims to turn profitable this year

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Education technology start-up Byju’s (Think and Learn Pvt. Ltd) has updated its app to incorporate a personalized learning approach that will provide content based on a student’s aptitude and grasping ability, even as the company aims to turn profitable in the current fiscal. “We have created unique learn journeys for… Read more »


China seeks safe steering of bike-sharing boom to clear cluttered streets

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China has published draft guidelines to regulate the booming bicycle-sharing industry whose firms have raised hundreds of millions in dollars in funding but have cluttered up sidewalks with bikes. The rules aim to address congestion and illegal parking as well as safety concerns over users’ deposits and personal information, according… Read more »


Snapdeal effect? Ola restricts SoftBank rights, strengthens those of founders

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It’s the first instance of startup leaders shielding themselves against potentially hostile shareholders


India: Paytm to start payments bank operations from May 23

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It has received the final nod from Reserve Bank of India.


Malaysia: MyEG to buy food review website Eat Drink KL

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MyEG has taken to a diversification path in the last few years


Alibaba poised to enter Pakistan, signs MoU to promote exports

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MoU signed during Pakistan PM Nawaz Sharif’s visit to Alibaba HQ.


China’s sharing app boom floods sidewalks with bicycles

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Business for Mobike, ofo and other apps has taken off in the past year