Tag: Asia
Didi app pulled from app stores in China after suspension order
China has ordered app-store operators to remove the app of Didi from their stores, the latest as tension escalates between the nation’s largest ride-hailing giant and local regulators. The app has disappeared from several stores including Apple’s App Store in China, TechCrunch can confirm. The nation’s cyberspace administration, which unveiled…
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Chinese cybersecurity probe validates Didi’s pre-IPO warning to investors
Regulators ordered the ride-hailing company to stop signing up new customers Alex Wilhelm 7 hours Shares of Chinese ride-hailing provider Didi are sharply lower this morning after news broke that its domestic regulators are investigating the newly public company. A loose translation of the probe’s official notice indicates that the…
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India’s Licious raises $192 million for international expansion
Licious, a Bangalore-based startup that sells fresh meat and seafood online, has raised $192 million in a new financing round as it looks to expand its footprint beyond the South Asian market. The new round — a Series F — was led by Singapore’s investment firm Temasek and Multiples Private…
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Swedish gaming firm MTG acquires India’s PlaySimple for $360 million
Swedish gaming giant Modern Times Group (MTG) has acquired Indian startup PlaySimple for at least $360 million, the two firms said Friday. MTG said it will pay 77% of the acquisition sum to Indian game developer and publisher in cash and the rest in company shares. There’s also another $150…
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India’s central bank says growing presence of Big Tech in financial services a concern
India’s central bank has identified Big Tech’s push into financial services as a challenge for banks in the South Asian market, saying the growing presence of these firms have prompted concerns about creation of an uneven playing field. In a report published on Thursday, Reserve Bank of India (RBI) said…
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Tiger Global in talks to back Indian fintech Yap
Tiger Global is in advanced stages of talks to back Indian embedded finance startup Yap, according to more than half a dozen people familiar with the matter. The New York-headquartered firm is in talks to lead a $35 million financing round in Yap — also known as YapPay and M2P…
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