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Today’s Tech Headlines: ofo pulls out of Australia; Malaysia regulates ride-hailing companies

Written by KrASIA Writers Published on   3 mins read

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


Singapore-based financial products comparison platform GoBear has announced that Adrian Chng will succeed Andre Hesselink as its new CEO next Monday. Adrian Chng is a veteran in the startup and fintech circle. (KrASIA)

Malaysia will impose on ride-hailing companies the same licensing and other regulations that are applicable to taxis, according to the Transport Ministry (Deal Street Asia)

Indonesia’s Moladin, an online motorcycle platform, has raised US$1.2 million from East Ventures, Berjaya Group and Ethos Partners. (Deal Street Asia)

Weyland Tech, a US-based provider of mobile business applications, plans to spin off its e-wallet business AtozPay in Indonesia. (Deal Street Asia)

Singapore’s Bambu, a B2B Robo-advisor solution firm, has raised US$3-million in a Series A round led by existing investor Franklin Templeton Investments, with participation from Singapore’s family office Octava and Mamoru Taniya. (Deal Street Asia)



After just a short period of two years, WeChat now claims over 1 million mini-programs from more than 1.5 million third-party developers for its mini-apps, officially known as mini-programs, platform, according to its development team’s announcement on Wednesday. (KrASIA)

WeChat recently published its latest effort to close down accounts and groups that are involved with online gambling. According to WeChat’s official statement, the application operation team located and punished more than 50,000 WeChat accounts and shut down more than 8000 WeChat groups that are involved with online gambling. (KrASIA)

Elon Musk’s Tesla has announced its plans to open a 500,000-car factory in Shanghai, China, a deal made in partnership with the municipal government in the Chinese city. (KrASIA)

Toutiao’s video streaming app Huoshan announced a One Million Experts plan to invest RMB 1 billion (US$150 million) worth cash and resources to support MCNs and content makers on the platform. (Technode)

Internet-connected car company Benma, the joint venture between Alibaba and SAIC Motor, is edging closer to a new round of fundraising with participation from new investors. The automaker is also planning to partner with mainland carmakers. (SCMP)

Alibaba’s AutoNavi maps service launched a ride-hailing aggregator, allowing users to choose from ride-hailing providers including Didi Chuxing, Ucar and Shouqi Limousine & Chauffeur. (SCMP)

Marriott International will test facial recognition check-ins in partnership with Alibaba. Chinese guests may be able to check in by scanning their faces. (Reuters)

The US announced it has signed an agreement with ZTE and will remove the ban on the telecommunications equipment maker who will deposit US$400 million in an escrow account. (Reuters)

Smartphone recycle startup Aihuishou has raised a US$150 million round led by Tiger Global Management with participation from JD. The startup was valued at over US$1.5 billion. (CMN)

VC firm Panda Capital has raised RMB700 million (US$105 million) for its second RMB fund from investors including Sequoia Capital, IDG Capital, Redbud Capital, and CICC Genesis. (CMN)


Rest of Asia 

Hedge fund Tiger Global takes a more than US$1 billion stake in SoftBank as it considers the Japanese conglomerate is undervalued. (Reuters)



Broadcom agreed to acquire CA Technologies for US$18.9 billion. The Software company CA Technologies was formerly known as Computer Associates. (WSJ)



AT&T Inc will exclusively sell Magic Leap’s wireless gadgets in the US. Magic Leap plans to ship its first product Magic Leap One, a wearable computer with AR features, to designers and developers this year. (Reuters)


Good News Bad News

Ofo, a Beijing-based bicycle sharing startup, announced Tuesday that it will pull out of Australia, just barely one year after its expansion into the region according to an Australia media report. It is looking to phase out its Australia operations, gradually shifting the bikes from the streets to the warehouse over the next 60 days. (KrASIA)



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