Grab, the $16 billion-valued ride-hailing firm that acquired Uber’s Southeast Asia business last year, is in talks with Alibaba’s Ant Financial and PayPal as it considers spinning out of its financial services unit to double down on its non-transportation business, TechCrunch has learned. The seven-year-old company’s coming-of-age moment was a deal to buy Uber’s regional […]
View More Grab is talking to Ant Financial and PayPal about spinning out its financial services businessCategory: alibaba
The FT is buying another media startup: Deal Street Asia
Fresh from picking up a majority stake in Europe-based The Next Web, the Financial Times is buying another tech blog. The newspaper, which was founded in 1888, is adding Singapore-based Deal Street Asia to its roster with a deal expected to close in April, according to three sources with knowledge of discussions. Founded in 2014 […]
View More The FT is buying another media startup: Deal Street AsiaDaily Crunch: Chinese giants fund ride-hailing challenger
The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here. 1. Alibaba, Tencent and other major names form $1.45B ride-hailing venture For the last two years, Didi has been the dominant car-hailing […]
View More Daily Crunch: Chinese giants fund ride-hailing challengerAlibaba, Tencent and other major names form $1.45B ride-hailing venture
For the last two years, Didi has been the dominant car-hailing force in China and its success has spawned a handful of competitors initiated by both internet firms and old-school carmakers. Just last week, another notable challenger has stepped up. T3, which is short for “top 3”, officially launched after a dozen entities, including three […]
View More Alibaba, Tencent and other major names form $1.45B ride-hailing ventureTencent Q4 profit disappoints, but cloud and payments gain ground
China’s Tencent reported disappointing profits in the fourth quarter on the back of surging costs but saw emerging businesses pick up steam as it plots to diversify amid slackening gaming revenues. Net profit for the quarter slid 32 percent to 14.2 billion yuan ($2.1 billion), behind analysts’ forecast of 18.3 billion yuan. The decrease was […]
View More Tencent Q4 profit disappoints, but cloud and payments gain groundSlowdown or not, China’s luxury goods still seeing high-end growth
Despite well-documented concerns over an economic slowdown in China, the country’s luxury goods market is still seeing opulent growth according to a new study. Behind secular and demographic tailwinds, the luxury sector is set to continue its torrid expansion in the face of volatility as it’s quickly becoming a defensive economic crown jewel. Using proprietary […]
View More Slowdown or not, China’s luxury goods still seeing high-end growthSpotify rival Tencent Music posts maiden quarter loss of $130M on one-off costs
Tencent Music Entertainment Group, the Chinese answer to Spotify that Tencent spun out and floated on the New York Stock Exchange in December, reported a net loss of 876 million yuan ($127 million) in its first set of quarterly results since going public. The loss, which TME forecasted in its prospectus filed ahead of the IPO, […]
View More Spotify rival Tencent Music posts maiden quarter loss of $130M on one-off costsSpotify rival Tencent Music posts maiden quarter loss of $130M on one-off costs
Tencent Music Entertainment Group, the Chinese answer to Spotify that Tencent spun out and floated on the New York Stock Exchange in December, reported a net loss of 876 million yuan ($127 million) in its first set of quarterly results since going public. The loss, which TME forecasted in its prospectus filed ahead of the IPO, […]
View More Spotify rival Tencent Music posts maiden quarter loss of $130M on one-off costsThis YC-backed startup preps Chinese students for US data jobs
In recent years, data analysts have gone from optional to a career that holds great promise, but demand for quantitative skills applied in business decisions has raced ahead of supply as college curriculum often lags behind the fast-changing workplace. CareerTu, a New York-based startup launched by a former marketing manager at Amazon, aims to close […]
View More This YC-backed startup preps Chinese students for US data jobsCan there be too much competition between startups?
Competition is the core of capitalism. Competition between companies lowers prices — on average — and ensures that they are forced to innovate lest they lose their markets to others. Competition between workers ensures that people strive to do their best work lest their jobs go to more qualified or faster or cheaper replacements. Obviously, […]
View More Can there be too much competition between startups?Surging costs send shares of ecommerce challenger Pinduoduo down 17 percent
China’s new tech force Pinduoduo is continuing its race to upend the ecommerce space, even at the expense of its finances. The three-year-old startup earmarked some big wins from the 2018 fiscal year, but losses were even greater, dragging its shares down 17 percent on Wednesday after the firm released its latest earnings results. The […]
View More Surging costs send shares of ecommerce challenger Pinduoduo down 17 percentThe “splinternet” is already here
Keith Wright Contributor Share on Twitter Keith Wright is a Villanova School of Business instructor of Accounting and Information Systems, founder of Simplicity On-Demand LLC and former Senior Vice President for Global Sales Operations for SAP. There is no question that the arrival of a fragmented and divided internet is now upon us. The “splinternet,” […]
View More The “splinternet” is already here