Chinaccelerator Daily Digest 2020/04/27

CHINA:

1. IP-based Games to Generate RMB 150.0 Billion on Mobile in China in 2020

2. China’s Investors Take Luckin Coffee to Court for Painful Stock Loss

3. China orders TikTok owner ByteDance to remove work-from-home app

4. Huawei and ZTE now have more than 80% of China’s 5G base station contracts

5. Pinduoduo to invest USD 7 billion in rural areas in next five years

6. Suning is launching a Pinduoduo clone in May

7. Kuaishou Launches New Short-Video App SnackVideo to Challenge TikTok’s Dominance Overseas

8. Tesla’s China-made Model 3 prices rise after EV subsidies cut

9. Baidu apologizes after having cloud users share their internet bandwidth by default

10. Klook to reduce headcount, forgo co-founders’ salaries to weather Covid-19 crisis

12. Edtech startup Huohua Siwei 火花思维 raises Series D+ round

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MOBILE-ONLY MARKETS:

1. Indian smartphone market grew by 4% in Q1, but projected to decline by 10% this year

2. Nearly 47% of Indian startups, SMEs have less than a month of cash left: Survey

3. Singtel secures $3 billion in bank credit for subsidiaries

4. Singapore-based insurance-tech startup Igloo raises $8.2M to bring insurance to more people in Southeast Asia

5. SensorFlow, a Singapore-based startup that helps hotels and commercial properties optimize energy and operations, bags $8.3m in series A+ money

6. Malaysian digital health app Naluri banks $1.1m in pre-series A money

CROSS-BORDER:

1. Quest Ventures leads $7m round for logistics startup Moovaz 

2. Facebook invests USD 5.7 billion in Reliance’s digital arm Jio Platforms

3. Bytedance, Falcon Edge join Bengaluru-based vernacular news aggregator Dailyhunt’s $23.5m round

4. Former Lazada execs’ ecommerce enabler OnPoint snaps up $8m to double down on Vietnam

5. Beyond Meat, the world’s largest meat substitutes maker, enters the Chinese market via Starbucks partnership

6. South Korea’s Nexon invests $123m in Indian financer DMI Group

OVERSEAS:

1. Game industry doubles down on U.S. TV ads during pandemic

2. Amazon tests screening new merchants for fraud via video calls in pandemic

3. Zoom shares drop 6% as Facebook rolls out free video calls for up to 50 people

4. Australia launches controversial COVID-19 tracking app as some states start easing rules

5. Apple and Google update joint coronavirus tracing tech to improve user privacy and developer flexibility

6. Online education company Coursera offers unemployed workers thousands of free courses

7. Verizon Communications Inc loses 68,000 wireless subscribers as coronavirus takes toll

8. Intel sees lower quarterly profit on weaker global chip demand

9. Telegram hits 400M monthly active users

10. Charlotte-Based Fintech Unicorn AvidXchange Raises $128M More For Accounts Payable Platform

11. Affinivax Closes On $120M Series B As Biotech Takes Center Stage Globally

12. Bestow Closes $50M Series B For Digital Life Insurance, Sees 800% YoY Policy Growth

13. Clever Care Receives $20M Series A Round To Launch New California Medicare Advantage Program 

14. Logistics solution provider SimpliRoute Plans Latin American Expansion Following $3M Series A

Image Credits: KrAsia