FB Pixel no scriptToday’s Tech Headlines: Naspers in talks to invest in Carousell; Baidu reportedly to issue CDRs | KrASIA

Today’s Tech Headlines: Naspers in talks to invest in Carousell; Baidu reportedly to issue CDRs

Written by KrASIA Writers Published on   3 mins read

All you need to know about what happened in the tech world today.


South Africa-based Naspers, famous for its visionary investment in the then-loss-making Tencent in 2001, is in early-stage talks to invest in Carousell with an aim to make the startup a key player in the region, TechCrunch reports on Tuesday. The investment will possibly value the startup at over USD500 million, as per the TechCrunch report. (KrASIA)

Singapore’s WhereIsWhere’s location-based marketing tool intends to blend technology with the brick-and-mortar model to change how the traditional stores would sell themselves, leveling the playing field and offering an out-of-the-box channel to grow their revenue. (KrASIA)

After the exit of Uber from Vietnam, at least 10 local businesses are reported to be in the process of launching or expanding their businesses. (Deal Street Asia)

Jugnoo claimed to have around 700 registered drivers since its launch in Singapore, aiming to exceed the number by 2000. (e27)

Vingroup JSC is foraying into smartphone manufacturing and sales, aiming for SE Asian countries where smaller rivals have failed to challenge Samsung and Apple. (Reuters)



Beijing-based smartphone giant, Xiaomi has filed with the China Securities Regulatory Commission (CSRC), this Monday, a move that’d make it the first company to issue Chinese Depositary Receipts (CDR). According to the filing, the all-around smart devices maker plans to issue Class B common stocks to the depositary that will be converted into CDRs and to be listed on the Shanghai Stock Exchange. (KrASIA)

China’s search giant Baidu might be the first overseas-listed Chinese tech company to relist at home. According to local media Caixin citing people familiar with the matter, Baidu is running ahead of Alibaba and JD in the preparation for CDR (Chinese Depository Receipt) issuance application. Baidu has reportedly picked CITIC, the largest securities company in China, as well as Huatai United Securities, as sponsors for the planned deposit offering. (KrASIA)

Baidu launched its smart speaker Xiaodu at a discounted price of RMB89. The search giant introduced a smart speaker Xiaodu Zaijia three months ago. (CMN)

Meituan-Dianping plans to file for an around US$6 billion IPO in Hong Kong as soon as this month, according to people familiar with the matter. (Bloomberg)

Mobike is expanding its deposit-free, credit-free bike-sharing services to a hundred cities including second and third-tier Chinese cities, while Beijing, Shanghai and many first-tier cities are not part of the new scheme. (Technode)

Rick Yan, CEO of 51Job, China’s largest online recruiting and human resources businesses, has amassed a fortune which is worth $1.5 billion, according to Bloomberg Billionaires Index. (Bloomberg)

EV maker Byton unveiled its first concept sedan that can drive itself under most conditions without human intervention. (SCMP)

Yitu Technology has raised RMB380 million (US$55 million) in a a series C round led by Hillhouse Capital Group. The Shanghai-based AI startup specialized in machine vision, big data and advanced hardware. (CMN)

LendChain, a distributed digital assets platform, has raised tens of millions of yuan from GXChain, Bitpei, PreAngel, Fission Capital among others. (CMN)


Rest of Asia

SoftBank’s second massive Vision Fund would provide further fillip to Indian start-ups trying to build large businesses. (Deal Street Asia)

Mercari Inc, a Japanese flea market app operator, is raising up to $1.2 billion in the biggest IPO in the country so far this year. The company eyes to replicate its domestic success to overseas markets. (Reuters)



Facebook is rolling out a new feature that asks users to leave feedback about their shopping experience after viewing a Facebook ad, as the company seeks to ban sellers of shoddy products. (WSJ)

Scooter startups like Bird Rides have drawn fire from citizens and politicians. People hurt riding or hit by scooters in San Francisco and Los Angeles are filing claims. (Bloomberg)



Sony unveiled trailers for its upcoming PlayStation titles at gaming conference E3 in a push to secure its dominance in the console market. (CNBC)


Good News Bad News

Vietnam approved a cybersecurity law despite privacy concerns, tightening the country’s grip over the internet and global tech companies operating in the country. (Reuters)



Auto loading next article...