Tag: Asia
Mobile payments firms in India are now scrambling to make money
Vijay Shekhar Sharma, founder and chief executive of India’s most valuable startup, Paytm, posed an existential question in a recent press conference. “What do you think of the commercial model for digital mobile payments. How do we make money?” Sharma asked Nandan Nilekani, one of the key architects of the…
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Spotify and Warner Music Group renew their global licensing deal, resolve issue in India
Spotify and Warner Music Group have renewed their global licensing partnership, the two said on Wednesday, confirming that Warner Music Group’s songs will now be available on the Sweden-headquartered firm’s platform in India. In a joint statement, the two giants said, “The two companies look forward to collaborating on impactful…
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Grab hires Peter Oey as its chief financial officer
Grab announced today that it has hired Peter Oey as its new chief financial officer. Prior to joining Grab, Oey was the chief financial officer at LegalZoom, an online legal services company based near Los Angeles. Before that, he served the same role at Mylife.com, an online platform that aggregates…
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Investors tell Indian startups to ‘prepare for the worst’ as Covid-19 uncertainty continues
Just three months after capping what was the best year for Indian startups, having raised a record $14.5 billion in 2019, they are beginning to struggle to raise new capital as prominent investors urge them to “prepare for the worst”, cut spending and warn that it could be challenging to…
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Damon Motorcycles makes acquisition, raises $3M and extends pre-orders
EV startup Damon Motorcycles has acquired the IP of Mission Motors, raised $3 million in funding and announced a special production run of its debut model. The Vancouver-based venture unveiled the 200 mph Hypersport in January and began taking pre-orders for the e-moto, with a base price of $24,995. Damon…
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Xiaomi reports Q4 revenue jump, beats estimates
Xiaomi ended 2019 on a high, reporting a 27.1% year-over-year jump in the fourth-quarter revenue aided by overseas expansion, beating analysts’ estimation. The Chinese giant said sales in the fourth quarter jumped to 56.5 billion yuan ($8 billion), up from 44.42 billion yuan in the same quarter a year before.…
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