News

Alibaba is rumored to pump in US$ 9.5 billion to fully acquire food delivery startup Ele.me.

Plus, East Ventures is planning a USD100 million fund. Apple is preparing to release a trio of new smartphones later this year.

The company has engaged in overseas markets including South Korea, Vietnam, Thailand, the Philippines, Singapore and the United Arab Emirates.

Meituan-Dianping is the world’s #4 most valuable startup according to CB Insights.

China’s video streaming scene is dominated by three major platforms namely Alibaba-acquired Youku, Tencent’s Tencent Video and Baidu-backed iQiyi.

Plus, Alibaba is in talks to buy a minority stake in Dailyhunt. Dropbox filed for a USD500 million IPO.

Highlights from the past week, as well as something cool for the weekend.

China is the world’s largest EV market and Tesla holds a 3 percent market share.