Middle East ride-hailing firm Careem said to hire Jefferies

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Careem is looking at investment options and fundraising, including a potential Middle East M&A deal with Uber Technologies.

Careem

Kenya’s Go-Jek, Sendy, plans second fundraising round to expand ops

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Investors in Sendy, which says it has modelled itself on other logistics platforms such as Indonesia’s Go-jek, include local telecoms operator Safaricom, Toyota East Africa and Dutch investor DOB Equity.


Faced with gaming freeze in China, Tencent partners Sea to hunt for growth in SE Asia

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China has imposed regulations on approval of new games in March as part of a regulatory overhaul and to tackle addiction among youth.


What’s the cost of an e-commerce boom? Ask Indonesia’s postal service

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By 2022, the country’s e-commerce market will grow to $65 billion from last year’s $8 billion, according to McKinsey. And the post office will do much of the heavy lifting, shipping 4.4 million online-shopping parcels each day, six times what it does today.


SE Asia’s internet economy on track to exceed $240b by 2025: Google-Temasek report

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The region’s internet economy has reached $72 billion in GMV in 2018 across the four categories of online travel, e-commerce, online media and ride hailing.


Tokopedia latest to jump on Indonesia’s O2O commerce bandwagon

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Mitra Tokopedia is aimed at owners of small shops and kiosks, who will bridge the gap between the online retail space to offline customers.


Go-Jek to launch beta version of app in Singapore in December

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Go-Jek had in October launched a portal for drivers to pre-register in Singapore.


Walmart to merge Jabong with Myntra, axe falls on 200 jobs

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While Myntra has been growing fast, Jabong has struggled to expand sales this year.


Uber’s revenue growth loses steam as quarterly loss surges to $1.1b

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It’s a troubling sign for a serially unprofitable business that hopes to get valued like a technology company in a planned initial public offering next year.


Grab unveils cross-border remittance product, official launch in early 2019

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Grab’s new offering will allow both banked and unbanked senders to remit money instantly and securely to recipients in another country using their GrabPay wallets.