Tuesday, 2024 March 5

Today’s Tech Headlines: Delay in Ant Financial IPO plans


Innovation Factory and GREE Ventures set up startup accelerator in Jakarta. The three-month programme helps startups grow and scale, make data-driven decisions, raise money, and more. (KrASIA)

Which are the best logistics startups in Southeast Asia? Anchanto, Haulio, Ninja Van, Fetch Me, and Boxful are some examples, indicating a trend of how technology has transformed our lives. (KrASIA)

Latitude Venture Partners, with a $200 million corpus, is looking at making geography-agnostic investments particularly in the healthcare/health tech segment. This is another venture arm launched by Indonesia’s Sinar Mas. Its earlier VC arm focused on early stage funding.  (Deal Street Asia)



Alibaba Health acquires 25% stake of Guizhou Ensure Chain. This development will see Alibaba Health work with Guizhou Ensure Chain to explore and expand the online-to-offline retail model in China’s healthcare sector. (KrASIA)

China’s Meituan moves further on IPO, kicking off roadshow on Sept. 3. The underwriters of this deal include Goldman Sach, Morgan Stanley, and Bank of America. China Renaissance will be the financial advisor for this IPO deal. (KrASIA)

Ant Financial pushes back IPO plans again. It is said to be facing financial hurdles and pressure from the government’s recent crackdown on non-traditional financial institutions. Despite the $150 valuation in June this year, Ant Financial’s first-quarter earnings posted recent losses amidst rivalry with Tencent’s payment services. (Technode)

60% of the Chinese are online these days. China is now home to the world’s largest online community. The country surpassed the 800 million mark for the first time, representing a penetration rate of 57.75%. (SCMP)

Tencent’s WeChat Pay is enticing Malaysian users with free money. WeChat Pay users in Malaysia will be rewarded with virtual money packets worth between US$0.95 to US$21.70 – a one week campaign to lure Malaysian users onboard. (Tech In Asia)

China Tower and Alibaba have announced that they formally established a strategic partnership to collaborate on 5G and edge computing. Alibaba will leverage on China Tower’s 1.9 million tower sites across China to implement cloud-based smart city and smart transportation projects. (Technode)



One Medical, a primary care group who is backed by Alphabet, is said to be in talks to raise more than $200 million. This firm has offices in San Francisco, New York, Seattle, and other cities across the country. (CNBC)

There is a danger when the likes of Facebook and Twitter ban accounts, says Trump. This latest development comes in the wake of growing scrutiny from Congress to police foreign propaganda. (Reuters)

Facebook apologises. The social media giant is said to have blocked Prager University’s videos. PragerU believes that it was a deliberate act by Facebook and that it should concern all Americans. (BBC)

The drought of Mac computers is coming to an end. Apple Inc. is looking to release a new low-cost and pro-focused Mac mini desktop later this year. Though it looks just like the current Macbook Air, additional features include thinner bezels around the screen, and better resolution, according to people familiar with the matter. (Bloomberg)

Costco will be supporting Apple Pay across all of its US stores. This development comes after Apple landed similar deals with CVS and 7-Eleven.  The market for such services is tipped to reach 450 million consumers. (TechCrunch)


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