CHINA:
1. Online push helps Shanghai shopping festival pull in USD 2.2 billion of sales in first 24 hours
3. China’s Alibaba launches new platform to help brands sell luxury overstock
4. Chinese ride hailing giant DiDi says core business is profitable as signs of recovery take hold
5. Chinese EV makers Nio and Lixiang deliveries double in April
6. Publishing giant China Literature 阅文responds to protests over “exploitative” contract clauses
7. Car trader Chehaoduo 车好多 nets $200m from SoftBank Vision Fund, Sequoia China
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MOBILE-ONLY MARKETS:
1. Visa backs Singapore fintech startup Nium in new funding round
2. Driven by vernacular content, rural India sees 45% growth in internet users: Report
3. Reliance in talks to acquire e-pharmacy startup Netmeds
4. After grocery, Indian unicorn Zomato eyes alcohol deliveries
5. Beenext leads US$13.3M Series B in India-based B2B logistics startup Loadshare
6. Bengaluru-based AI startup Vernacular.ai raises $5.1m in Series A
7. Vietnam’s fresh farm food-to-table platform FoodHub raises seed funding
8. Vietnam’s e-commerce startup Leflair declares bankruptcy after facing capital crunch
9. IFC proposes $5m equity investment in Indonesian insurtech Pasarpolis
CROSS-BORDER:
1. U.S. drafts rule to allow Huawei and U.S. firms to work together on 5G standards – sources
2. Alibaba acquires 50 per cent stake in Singapore’s AXA Tower, home to its Lazada e-commerce unit
3. Uber to let go of up to 700 employees in India, sources say
4. Xiaomi launches product delivery platform in India amid lockdown
OVERSEAS:
1. Runa Capital Closes Third Fund At $157M To Invest In Digital Transformation And DeepTech
2. Autotech Ventures raises more than $150 million with an eye on ground transportation startups
3. Facebook’s Libra appoints HSBC legal chief Stuart Levey as CEO
4. Microsoft to invest $1 billion in Poland
5. Uber to lay off 3,700 employees, about 14% of workforce
6. Uber rival Bolt aims to launch scooters in 45 cities
7. Lyft shares jump 15% as company reports more riders than last year despite coronavirus
8. Volvo Cars to integrate Luminar lidar in next generation car platform
9. ServiceNow, Adobe pair their customer service software to improve apps
10. Goldman Sachs backs electric toothbrush startup Burst Oral Care
11. Magic Leap in Talks to Raise Money From ‘Major Health Care Company,’ CEO Tells Staff
12. TiVo enters the streaming market with a $50 Android TV-powered device, TiVo Stream 4K
13. At-home testing startup LetsGetChecked raises $71M
14. Industrial AI startup Covariant raises a $40M Series B
15. Knock raised $12M in Series B funding to grow its sales and marketing software-as-a-service platform
16. Banked picks up £2.35M seed to use open banking for account-to-account payments
Image Credits: KrAsia