Logistics on-demand startup Lalamove raises $100M as it approaches a $1B valuation

 Unicorns are like buses for Hong Kong. After living in the shadow of other cities and waiting around for its first, it now has (almost) two billion-dollar companies within months… and in the same space. GoGoVan became the country’s first unicorn in September following a merger deal with China-based 58 Suyun, and now Lalamove — another Hong Kong company specializing in… Read More

Why ARKit will make more money than ARCore or Camera Effects (for now)

 After the iPhone X, iPhone 8 and ARKit launches, it’s clearer than ever that Apple owns the four waves of augmented reality. But Google’s launch of ARCore has the startup CEOs, corporates and VCs Digi-Capital works with confused (not to mention Facebook Camera Effects). While there are technical/performance differences between the platforms, they’re more alike than different… Read More

First China, now South Korea has banned ICOs

 South Korea has banned ICOs, the up-and-coming method of raising funding via crypto tokens, due to concerns over the potential for financial scams. China’s Central Bank became the first to outlaw ICOs, which are also known as token sales, in a move made earlier this month and now Korea is following suit. Companies from across the world have raised more than $1.8 billion this year to… Read More

WhatsApp blocked in China, though past bans proved temporary

 WhatsApp has been widely blocked in mainland China by the country’s government, with text messaging as well as photo and video sharing not currently functional. However, WhatsApp had previously been blocked in the country and seen those blocks lifted within a few days, so it’s unclear how long the chat app may remain inaccessible. The New York Times reported today that WhatsApp… Read More

Didi invests $200M in Chinese auto trading platform RenRenChe

 China’s Didi Chuxing is already well-known for making investments, but this time around the ride-sharing company has stepped beyond backing companies in its core industry with its latest deal. That’s because Didi has backed RenRenChe, China-based online peer-to-peer car marketplace, via a strategic investment that is confirmed at $200 million. It’s not clear what… Read More

GGV’s Jenny Lee says Xiaomi doesn’t need to come to the U.S.

 Xiaomi is one of the most valuable startups in the world and has become a big icon in smartphone design, sometimes suggested as an analog to Apple in China. The company’s flagship phones receive a ton of press in the U.S., too, but they aren’t available in the U.S. just yet. Instead, Xiaomi is looking to emerging markets like India in addition to getting its phones into the hands… Read More

SoftBank Group will buy a 5% stake in ZhongAn, China’s first online-only insurance agency

 SoftBank Group has agreed to be a cornerstone investor in the initial public offering of ZhongAn, China’s first online-only insurance agency, on the Hong Kong Stock Exchange today. SoftBank Group will buy a 5 percent stake in the company, or about 72 million shares, at the offer price, which is in the range of HKD $53.70 to HKD $59.70 per share. If calculated based on the… Read More

The first of China’s top bitcoin exchanges has announced it will suspend trading

 A number of China’s top bitcoin exchanges are preparing to suspend their services following instructions from the government. BTC China, one of the country’s top three, became the first to officially make the move after it announced today that will stop all trading for China-based customers from September 30. The company said other services, including its BTCC Pool for miners, are… Read More