This week, Xiaomi and Go-Jek have revealed their plan to get listed. The former has already has asked banks to pitch for an IPO, while the latter said its IPO is projected in the next few year.
Kr-Asia Weekly Roundup highlights tech & startup news of the past week, with a focus on China and Southeast Asia. We also pick up the best features from Kr-Asia and the web that worth your time. Also, there is always something cool for the weekend.
News of the week:
Indonesia: Go-Jek has a ‘set plan’ to become a listed company within next few years, according to Chief Executive Officer Nadiem Makarim. In 2018, the company plans to take the expansion of its digital payment service Go-Pay a priority. Starting as a source of cheap motorbike rides, Go-Jek is now Indonesia’s largest food-delivery business. (Bloomberg)
The Philippines: Go-Jek plans to explore the market in the Philippines in early 2018, as part of its plan to expand its business in other Southeast Asian countries over the next 3 to 12 months. The company is eyeing an IPO in the next few years. (DealStreetAsia)
Singapore: Obike exposed global users’ personal and location data without any protection. The bike-sharing company was also alleged to have violated transparency rules as it does not make clear what kind of user data it collects when users download the app. (BR)
Ofo reported having secured a funding round led by Alibaba and Ant Financial, meaning the merger with Mobike unlikely to happen in the near future. (cnFOL)
Xiaomi has asked banks to pitch for an IPO in 2018 next Friday. The company was valued $46 billion in 2014 and is likely to see a rise in its value following strong results this year. Its float could be the world’s largest technology IPO next year. (Reuters)
Indonesia’s Central Bank made a regulation public this week, banning the use of cryptocurrencies by financial technology companies in payment system activities. (DealStreetAsia)
Best of Kr-Asia Features:
The competition among the bike-sharing companies in China intensified, as ofo and Hellobike reported to have secured new financing from Alibaba.
The rumour on the potential merger between the leading players Mobike and ofo has been around for long, the new financing adds future uncertainty to the ofo-Mobike fight.
Spotify, the largest music streaming platform, hasn’t shown any source of profitability. Is the music streaming industry destined for the guillotine?
Blog posts that worth your time:
Is HQ Trivia, a broadcasting app that attracts tens of thousands of people every day, the answer to questions about live streaming?
The mushrooming bitcoin allures investors weighing in, while 40 percent of the bitcoin market is held by 1000 users. Are holders of large amounts of bitcoin, also known as whales, one of the reasons why the investment in the cryptocurrency is risky?
Adidas’s Storefactory store in Berlin gauges customer enthusiasm for a set of concepts including digital design, localized, automated manufacturing, and personalized products.
Cool thing of the week:
Based on Ethereum blockchain, Cryptokitties, a digital version of Pokemon cards, has gone viral in the tech world. Here is a quick explanation. Are you ready to start meow?