Asia Digest: Pinterest opens Singapore office; China’s Miaoshou Doctor raises funds

Photo courtesy of Pinterest

US-based photo-sharing platform Pinterest has opened its first office in Singapore to cater to the Asia Pacific region and Indian market. In a separate development, Chinese startup Miaoshou Doctor has completed a series C funding round, which brings its total valuation to $1 billion.

Pinterest sets up Singapore office

US-based photo sharing platform Pinterest has set up an office in Singapore to ramp up its focus on Southeast Asia, which it considers an important market.

In June alone, the company claims to have seen over a 50 per cent increase in its customer base in the Asian region compared to the corresponding period last year.

This is Pinterest’s second office in Asia as the company previously opened its first office in Japan in 2013.

Through the Singapore office, Pinterest plans to reach out to the Asia Pacific region and India market and strengthen its relationship with brands and publishers. It has a plethora of partnership with companies, such as Vogue India, MasakTV, Tastemade, and Femina Magazine in Indonesia.

Miaoshou Doctor raises capital at $1b valuation

Sequoia Capital China-backed healthcare services platform Miaoshou Doctor raised an undisclosed amount in an extended Series C financing round, bringing the company’s total valuation to $1 billion, China Money Network reported.

Miaoshou, founded in 2014, offers medicines, health, slimming and skin care products on its website and mobile app and caters to customers in 63 cities across 20 Chinese provinces. The names of the investors in the current funding round were not disclosed.

Besides healthcare products, Miaoshou also offers medical consultation services and runs over 200 offline pharmacies.

The startup is understood to have secured $73 million in the second phase of series C funding round in January this year, that was led by Chinese private equity firm Starquest Capital, with participation from Sequoia Capital China.

In the first phase of its series C funding round that was closed in April last year, Miaoshou raised $79.3 million, led by internet giant Tencent. Kun Ling Capital, Sequoia Capital China, and Qiming Venture Partners had also participated in the round.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.