In May, Walmart-owned PhonePe signed the term sheet to acquire an over 90% stake in Indus OS, to boost its super app dream on the back of the latter’s content and app discovery platform.
China’s public and private sectors are trying to accelerate the country’s domestic chip-making capabilities, but enthusiasm doesn’t always yield efficiency.
The merger between Gojek and Tokopedia gave birth to an Indonesian technology behemoth, more than that, it’s also intensifying two Chinese giants’ competition in Southeast Asia.
The recent layoffs are expected to help the company stay afloat amid the second wave of COVID-19 and the muted demand for its offline offerings over the next few months.