Southeast Asia games firm Sea, formerly Garena, files for $1 billion US IPO

 Southeast Asia-based games and e-commerce firm Sea, formerly known as Garena, has officially filed for its much-anticipated U.S. IPO. The company, which is valued at over $3.75 billion, will list on the New York Stock Exchange as ‘SE’ and is looking to raise $1 billion. Sea is best known for its Garena gaming business, which predominantly focuses on PC games but also includes… Read More

East Ventures closes new $30M fund to continue investing in Indonesia

 East Ventures is back at it again with another new fund to invest in early-stage companies in Indonesia, Southeast Asia’s largest economy and the world’s fourth most populous country. This new $30 million fund is the firm’s sixth to date in Southeast Asia, and remarkably its second in 2017 alone. A $27.5 million fund announced in January was fully deployed in less than a year… Read More

Baidu announces $1.5B fund to back self-driving car startups

 Baidu is putting some serious cash behind its self-driving car push after it announced a $1.5 billion fund that’s focused on backing autonomous driving tech companies. The Chinese giant, best known for its internet search service and AI technology, has prioritized autonomous vehicles in a major way in recent years, so this comes as little surprise. Baidu made its Apollo self-driving… Read More

Electric scooter maker Gogoro raises $300 million for growth

 Electric scooter maker Gogoro has closed a massive $300 million Series C round to expand its service. The company has sold scooters in its native Taiwan since 2015, and it Europe it offers them on a short-term rental basis. That’s in Berlin, Germany, and Paris, France, where Gogoro provides a combined 1,600 scooters for an on-demand sharing service that’s operated by… Read More

Luno raises $9M to bring its bitcoin wallet, exchange and services to Europe

 Luno, a bitcoin wallet and exchange based out of Singapore, is riding the crypto wave into Europe after it closed a $9 million Series B round for market expansion. The funding was led by new investor Balderton Capital, with participation from existing backer Digital Currency Group. South Africa’s AlphaCode — also a new arrival on the cap table — joined the deal which… Read More

China’s three largest bitcoin exchanges will all stop offering local trading

 Well, that didn’t take long. Yesterday, China’s longest running bitcoin exchange, BTC China, announced it will suspend its local trading service at the end of this month, and today the country’s two other major exchanges — Huobi and OKCoin — followed suit to say they will cease at the end of October. The writing was on the wall when The Wall Street Journal… Read More

Tencent tried to buy Spotify earlier this year

 Spotify has long been linked with going public in the U.S. — it is speculated to be preparing for an IPO-less listing next year — but it has emerged that the company rebuffed the opportunity to sell to a major tech name earlier this year: Tencent, the Chinese internet giant valued at $380 billion. Tencent is said to have approached Spotify with a view to acquiring the company to… Read More

Google is reportedly releasing a localized mobile payment service in India

 Google is increasing its focus on India with plans to introduce a localized digital payment service as soon as next week, according to a report from India-based news site The Ken. The publication claims Google ‘Tez’ — meaning fast in India — will offer a comprehensive set of payment options beyond existing products like Google Wallet or Android Pay. Tez, for one thing,… Read More

North Korea’s hackers are reportedly targeting bitcoin exchanges

 North Korea’s hackers have been linked with many attacks, including the 2014 Sony hack, but it looks like the totalitarian state is now targeting bitcoin, and crypto coin exchanges in particular, with its hacking teams.
That’s according to a new report from cybersecurity firm FireEye, which claims to have tracked at least five attacks on bitcoin exchanges, or individual bitcoin… Read More

WhatsApp co-founder Brian Acton is leaving to start a non-profit

 WhatsApp co-founder Brian Acton is leaving the Facebook-owned messaging app to start his own non-profit business. Acton announced the decision on Facebook, of course: After 8 years at WhatsApp, I have decided to move on and start a new chapter in my life. I am very fortunate at my age to have the flexibility to take new risks and focus on what I’m passionate about. I’ve decided… Read More