China’s third-largest bike sharing service, which raised $90M, is reportedly closing down

 Bike-sharing, the year’s hottest startup trend in China and beyond, looks like it is about to see the biggest casualty of its cut-throat competition. Bluegogo, which had raised $90 million from investors and operates around 700,000 bikes across China, seems headed for the deadpool after Technode, our Chinese partner site, reported that the company has lost a slew of top executives and is… Read More

Tencent’s profit surges 69% thanks to its thriving games business

 Tencent, Asia’s highest-valued technology company, has smashed analyst forecasts for its Q3 2017 after it posted a profit of 18 billion RMB ($2.7 billion) on revenue of 65.2 billion RMB ($9.8 billion). That blew past expectations of 15.7 billion yuan and 61 billion yuan, according to analysts polled by S&P Global Market Intelligence, thanks to its high-performing mobile and PC… Read More

Qualcomm announces investment in Mobike and eight other Chinese startups

 Qualcomm is continuing its charm offensive in China, a critical market where it has suffered hard blows in recent years including a $1 billion anti-trust fine, after it announced a flurry of new investments. These are chaotic times for Qualcomm, which is fielding unwanted acquisition interest from Broadcom and battling Apple in court, but today it put the focus back on supporting upcoming… Read More

Amazon’s AWS business is reportedly pulling out of China

aws logo It looks like Amazon is removing itself from the Chinese cloud services industry on account of stringent new data laws that went live in the country earlier this year. The U.S. company has agreed to sell its China-based web services business to Beijing Sinnet, the local partner that operates it, according to a filing on the Shenzhen Stock Exchange that was noted by The Wall Street Journal… Read More

Uber’s new Asia chief wants to work with governments and taxi firms not against them

 New CEO Dara Khosrowshahi has been vocal in pledging to reform Uber’s toxic culture to take the business to the next level — and ultimately an IPO — but, over in Asia, another recent arrival is presiding over a revamped approach which includes turning those who were once enemies into friends. Brooks Entwistle, a former Chairman of Goldman Sachs Southeast Asia, joined… Read More

China’s second largest e-commerce firm just showed Alibaba has competition

 Alibaba invented China’s biggest shopping day — 11/11 aka Single’s Day — and it dominates the headlines with record sales year-on-year, but another company just stepped out to remind us that others are busy trying to close the gap. JD.com, the perennial challenger to Alibaba’s e-commerce empire in China, just revealed its 11/11 figures for the first time. While… Read More

Alibaba smashes its Single’s Day record once again as sales cross $25 billion

 Alibaba has set another Single’s Day record after the e-commerce giant sold over $25 billion of product on the Chinese biggest online shopping date. The full number comes in at 163.8 billion RMB, that’s roughly $25.4 billion, in GMV — that’s “gross merchandise volume” which is used to measure a dollar value for all sales on a platform. In Alibaba’s… Read More

India’s Uber rival Ola to license in-car entertainment tech to vehicle makers worldwide

 Ride-sharing companies the world over are branching out to go beyond just handling your car trips. In recent weeks we’ve seen Uber, the pioneer of the genre, announced its own Visa card while Southeast Asia’s Grab is developing a payment wallet that lets you pay for lunch, dinner and other small items. Now India-based Ola is doubling down out into in-vehicle entertainment after… Read More

Amazon launches Alexa-less Fire TV Stick for international users of its Prime video service

 We’re approaching one year since Amazon expanded its Prime video service to over 200 countries internationally, and today the company is doubling down on that global audience with the introduction of a ‘Basic Edition’ of its popular Fire TV Stick that ships to over 100 countries. The company unveiled a much-improved second-generation version of the product in September, adding… Read More