By Chalida Ekvitthayavechnukul
In September last year, Central Group and JD.com had announced two joint ventures for e-commerce and fintech with Provident Capital with an aggregate investment of up to $500 million.
It is a rare deal for Buffett, the world’s best known investor, who typically avoids internet firms, and is being considered a boost for India’s startup industry.
Grab is also said to be interested in partnering with JD Central, a $500-million e-commerce joint venture between Central and JD.com.
Toyota is seeking an edge over rivals as carmakers are positioning for an uncertain future in which automated driving and the sharing economy threaten to displace the traditional model of vehicle ownership.
Southeast Asia, with a growing population of 600 million who mostly lack bank accounts, is a strategic battleground for Asian tech behemoths and their U.S rivals.
The Philippines is the fifth country in SE Asia where Grab rolls out its full suite of mobile wallet services.
Ride-hailing firms in Asia have faced questions about safety after incidents involving drivers and passengers this year.
Both companies also aim to broaden their reach in the corporate healthcare service market.
The government seems to be having second thoughts on coming out with a comprehensive e-commerce legislation, after strong opposition from e-commerce giants such as Amazon and Flipkart. “Various elements of the policy will go into implementation. It is not some single composite effort. It has various diverse elements. Various elements… Read more »
This is Flipkart’s second acquisition in as many months, after the Walmart-controlled firm acquired Indian AI startup Liv.ai in August.