Alibaba fledgling cloud business soars high as it tries to build a challenger to Amazon

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Like Amazon, Alibaba’s cloud service emerged from the enormous computational power needed to handle millions of online shopping transactions. But unlike its U.S. counterpart, it enjoys home-field advantage in a vast Chinese market where Internet-based computing is still novel to many enterprises.

India: Flipkart, Snapdeal slash hiring in bid to cut costs

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Apart from hiring a few senior leaders, both firms have reduced hiring to a trickle over the past two months


India: Snapdeal acquires marketing technology firm TargetingMantra

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“At Snapdeal, we are always on the lookout for talented teams, who come with complementing tech skills, which can further enhance the experience for our customers,” said Rohit Bansal, co-founder, Snapdeal.com.


Bullish Airbnb sees plenty of room for growth in India

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Home rental provider Airbnb Inc. said its listings in India more than doubled from a year earlier and claimed that the country has become one of its fastest growing markets in the world. “We are seeing a lot of momentum in the Indian market and today we have 18,000 properties… Read more »


Indonesia: Marketplace Carmudi, Adira launch car warranty service; LeEco opens HQ in Silicon Valley, to expand to Indonesia  

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Online automobile marketplace Carmudi joined hands with Indonesian automotive insurer PT Asuransi Adira to launch Indonesia’s first used car warranty service in Jakarta on May 3.


Indonesia’s Kresna partners retail operator Supra Boga to create e-commerce biz

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Indonesia investment house Kresna Graha Investama and retail operator Supra Boga Lestari, through their respective subsidiaries, have agreed to set up an e-commerce venture, Supra Kreatif Mandiri (SKM). The e-commerce platform will be launched in the third quarter this year. SKM will develop KeSupermarket.com, an online shopping platform for daily needs… Read more »


IFC leads $60m Series D round in Lenskart; TPG, Ratan Tata & IDG also participate

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Lenskart which is looking to expand access to high-quality and affordable eye-care products in 40 cities.


India: Flipkart valuation marked down by two more investors

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Two small mutual fund investors at Flipkart have marked down the company’s valuation, joining other investors who believe that India’s largest e-commerce firm is overvalued. Valic Co 1 marked down Flipkart’s value by 29.4% as of February, compared with August 2015, according to a regulatory filing with the US Securities… Read more »


India: Airtel Payments Bank to start services between July and September

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With Airtel’s deep distribution network, the payments bank is well placed to deliver quality services by leveraging the power of mobile telephony, says MD and CEO Gopal Vittal


China: Uber signs up with online payment platform Alipay

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The partnership will allow Chinese travelers to pay for their international rides in yuan using their Alipay accounts, eliminating the need for dual currency credit cards or currency conversions, Uber said.