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36Kr (EN)

Rumor: Largest Chinese audio platform Ximalaya to raise $602m from Tencent, eyeing $7.5b HK IPO

Tencent Holdings Limited is a Chinese multinational investment holding conglomerate whose subsidiaries specialize in various Internet-related services and products, entertainment, artificial intelligence and technology both in China and globally.

Tencent

Ximalaya FM counts HKEX-listed China Literature, Tencent’s online-literature spin-off, as a backer.

Deals | rumor: Largest Chinese audio platform Ximalaya to raise $602m from Tencent, eyeing $7.5b HK IPO | KrASIA

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Deals | rumor: Largest Chinese audio platform Ximalaya to raise $602m from Tencent, eyeing $7.5b HK IPO

Spotlighting Asia&#039;s next wave of innovations.

KrASIA

I'm Xiaochun with KrASIA [kri’eɪʃə], a newborn digital media with a dedication to help Asia uncover its innovations and to create.

https://secure.gravatar.com/avatar/760c9db0d4ccfee316355af963bfcbc0?s=96&d=mm&r=g

Xiaochun Zhao

Fintech is the new applications, processes, products, or business models in the financial services industry, composed of one or more complementary financial services and provided as an end-to-end process via the internet.

Fintech

SGX’s reform will put it on par with its US rivals NYES and Nasdaq, as well as its Asian competitors Hong Kong and Mainland China.

Singapore Exchange accepts dual-class shares to attract startup listings | KrASIA

Singapore Exchange accepts dual-class shares to attract startup listings

Pinduoduo is an e-commerce platform allowing users to participate in group buying deals. It was founded by Colin Huang as Shanghai Dream Information Technology Co., Ltd. in September 2015.

Pinduoduo

E-commerce is the activity of buying or selling of products on online services or over the Internet. 

E-Commerce

The company is recently in disputes with merchants on its platform after a crackdown on counterfeit products.

Pinduoduo to file for $30b U.S. IPO next week | KrASIA

Pinduoduo to file for $30b U.S. IPO next week

Ant Financial Services Group, formerly known as Alipay, is an affiliate company of the Chinese Alibaba Group. Ant Financial is the highest valued fintech company in the world, and the world's most valuable unicorn company, with a valuation of US$150 billion. 

Ant Group

In last October, Tencent partnered with EMQ to allow Filipinos in Hong Kong to transfer money back home within 10 minutes for free using its WeChat app.

Ant Financial launches blockchain-based remittance service, scrambling for the Hong Kong payment market | KrASIA

Ant Financial launches blockchain-based remittance service, scrambling for the Hong Kong payment market

GrabTaxi Holdings Pte. Ltd. is a transportation network company based in Singapore. In addition to transportation, the company offers food delivery services via mobile app. It operates in the Southeast Asian countries of Singapore, Malaysia, Indonesia, Philippines, Vietnam, Thailand, Myanmar, and Cambodia. 

Grab

The bike-sharing startup hasn’t made it clear about when and how users in Singapore could reclaim their deposit.

Grab removes oBike from GrabCycle as homegrown bike-sharing startup pulls out of Singapore | KrASIA

Grab removes oBike from GrabCycle as homegrown bike-sharing startup pulls out of Singapore

Enterprise services is an over-arching term to describe an architecture combining engineering discipline and computer science to solve practical business problems. 

Enterprise Services

A recent update on its super app WeChat revealed Tencent’s ambition in advertising. On June 20, Tencent changed its WeChat official accounts updates to a feed.

Exclusive: Tencent to step up efforts in advertising, projecting it would contribute up to 40% of total revenue | KrASIA

Exclusive: Tencent to step up efforts in advertising, projecting it would contribute up to 40% of total revenue

Indian hotel chain operator OYO announces launch in China amid bruising competition

The 5-year old startup counts SoftBank, Sequoia Capital, Lightspeed Venture Partners and Huazhu Hotels Group as backers.

Indian hotel chain operator OYO announces launch in China amid bruising competition (Updated) | KrASIA

Indian hotel chain operator OYO announces launch in China amid bruising competition (Updated)

ByteDance or Beijing ByteDance Technology Co Ltd. is a Chinese Internet technology company operating several machine learning-enabled content platforms, headquartered in Beijing. It was founded by Zhang Yiming in 2012. ByteDance's core product, Toutiao, is a popular content platform in China.

Bytedance

Entertainment is a form of activity that holds the attention and interest of an audience or gives pleasure and delight. 

Entertainment

Valued at USD35 billion excluding Douyin’s valuation, Toutiao is also raising a round and is seeking funds from KKR and Jack Ma-backed Yunfeng Capital.

Toutiao’s less-than-2-year-old short video app Douyin, valued at around $10bn, is said to raise funds independently | KrASIA

Toutiao’s less-than-2-year-old short video app Douyin, valued at around $10bn, is said to raise funds independently

Education is the process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits. The education industry is fast-reforming nowadays. 

Education

The round is co-led by Coatue, Tencent, Sequoia Capital China, and Yunfeng Capital.