SEA
Online marketplaces changing how we all shop: Stripe Report. In Singapore, popular online marketplaces include e-commerce platforms Carousell and other on-demand services platforms like Grab and honestbee. All 3 companies are currently headquartered in Singapore but have scaled their operations to serve multiple cities across Southeast Asia. (KrASIA)
ClassPass scores $85m in Series D round led by Temasek. This US-based fitness subscription platform ClassPass is looking to launch its services in Singapore, a market it sees as a springboard into Asia. (KrASIA)
Rakuten-Techstars accelerator kicks off in Singapore with 10 startups. This programme aims to help the selected startups ‘rapidly develop their products and go-to market strategy’. (KrASIA)
SG’s SolarHome secures an additional $1m from Insitor Impact Asia Fund. According to the company, its ‘rent-to-own’ model provides customer access to financing that would not otherwise be available and increases the affordability of quality off-grid solar solutions. (Deal Street Asia)
Another ride-hailing app enters Singapore’s post-Uber vacuum – and it’s on the blockchain. South Korean blockchain startup MVL – short for Mass Vehicle Ledger – has just launched its ride-hailing app in Singapore. (Tech in Asia)
China
Meituan heads to the West for its pre-IPO roadshow. This latest update comes after its pre-A1 roadshow in Hong Kong in June. The firm also recently launched its Meituan Autonomous Delivery (MAD), an intelligent delivery concept. (KrASIA)
O2O, data, and blockchain are revolutionizing real estate in China. China is a crowded country where it is daunting to find a place to call home. But where there is demand, there is also innovation. The convergence of property and technology is called proptech. (Technode)
Huawei leads Chinese smartphone sales in the second quarter while Xiaomi has a tougher time. The strong-performing budget Honor brand of Huawei is the core contributor to its growth in market share. (SCMP)
Chinese biotech firm Ascletis said to raise $400m in HK IPO. New York is currently the established centre for biotech IPOs, with $2.4b worth of such shares sold last year. The largest early-stage biotech deal was in 2014. (Deal Street Asia)
China’s tech giants are doing everything. Here’s what it means. Whether through product development, investment or acquisition, China’s tech giants are doing everything – from content and fintech to esports and autonomous vehicles. One special thing in China is the ‘mega-merger’ deal where two companies can end a price war by joining forces. (Tech In Asia)
Chinese e-commerce startup fetches nearly $24b valuation in Nasdaq IPO. This Shanghai-based online discounter, who counts Tencent as a backer, is an emerging rival to Alibaba Group Holding & online retailer JD.com (WSJ)
Mercedes-Benz parent company Daimler deepens partnership with Baidu. Daimler will be looking to specifically with Baidu’s open-source autonomous driving platform, Apollo. (Technode)
Rest of Asia
South Korea’s Yanolja invests $15m in Zen Rooms with option to acquire. This Rocket internet-backed Zen Rooms is looking to expand into Southeast Asia, while contemplating a future IPO. (KrASIA)
World
Facebook’s grim forecast: privacy push will erode profits for years. The company’s shares plummet by as much as 25% on Wednesday. Slow usage in the biggest advertising markets and the costs of improving privacy safeguards were some of the concerns. (Reuters)
Paypal earnings top estimates, but revenue outlook falls short. The financial technology company also raised its full-year forecast. In May, Paypal unveiled a $2.2 billion deal to buy iZettle, a European payments startup. (CNBC)
Qualcomm plans to abandon NXP deal amid U.S.-China tensions. China was the last of 9 markets that needed to approve the deal, but the deal became mired in Beijing’s trade fight with Washington. (WSJ)
How smart technology is helping to solve a $990 billion problem. Around 1.3 billion tons of food produced for food consumption is either lost or wasted every year, according to Food and Agriculture Organisation of the United Nations (FAO). ‘’We are providing data in a place where data didn’t exist’’, says Thorn. (CNBC)
Retailers set sights on Facebook, Google ad revenue. Target’s SVP of media and guest engagement Kristi Argyilan says: ‘’Data about real people and real behaviors ‘’actually get much stronger results because the fidelity of that data is so much richer.’’ (Reuters)
Gadgets
Nanotech powers this super-sensitive microphone. The trouble with microphones is that they don’t just hear – they have to listen. This new microphone-like system hears more like the way our ears do. (TechCrunch)
Good News Bad News
MyEtherWallet’s secure login app is now available in beta for iOS. The MEW Connect app allows users to log into the service without typing their private key, just like hardware solutions such as Ledger or Trezor. (TechCrunch)