Hi there, it’s Robin.
What an exciting week this has been for China’s tech companies and also Southeast Asia’s tech scene!
The unthinkable happened this week.
A week ago, there was building hype over an imminent first CDR listing in the middle kingdom.
However, as quick as the news spread, the dream was all over in an instant when Xiaomi suddenly decided to postpone its CDR listing plans on Tuesday.
As thoughts run wild over what’s next for Xiaomi, the company pushes forth with an updated prospectus to go IPO on the HKEX next week.
Who’s next on the line for another IPO?
Rumors of Meituan’s next course of actions also started to circulate – on the same day that Xiaomi pushes forth for its IPO.
Alongside this IPO craze, Meituan’s archrival Didi might be facing some financial burden as it starts to retain its drivers’ income.
Other fast-growing Chinese startups have also raised funds from the private markets actively this week.
Some examples include Bytedance’s Toutiao and online education platform, VIPKID.
However, it might not be all that rosy for high growth Chinese startups.
Pinduoduo, a fast-growing e-commerce app, for instance, is caught in disputes with the merchants at the moment.
Moving to the Southeast Asia region, Singapore’s Carousell finally launches its own mobile wallet – CarouPay – a bane for the increasing competition among Southeast Asia’s mobile payment sector.
Bolder plans are also ahead for other startups in the region.
Read on to find out more interesting stories from last week, and feel free to tip us if you have news clue or you just want to talk with us, email us at KrASIAofficial@gmail.com and we’re looking forward to hearing from you.
Here are some stories you shouldn’t miss.
China
Didi faces an uphill battle alongside its global expansion plans
Google and JD collaborates strategically amidst trade war fears
Chexingyi, online automotive aftermarket service provider, closes $10m Series B
JD recorded $25b in order value of ‘618’ shopping festival
This young upstart Douyin could be the solution in Alibaba’s war with Tencent
Sequoia Capital China leads $10m round in unmanned vending machine startup Bianli24
Kuaidi founder announces his blockchain ridehailing startup VV Share
Indian hotel chain operator OYO announces launch in China amid bruising competition
Southeast Asia
RedDoorz expands into the Philippines, its third Southeast Asian market
Interesting Stories
Indonesia ecommerce through the eyes of a veteran
Pinduoduo: A Close Look at the Fastest Growing App in China
Meituan, an unexpected entrant to China’s OTA industry that topples Ctrip
