Southeast Asia

2024.08.12

08:28

Canalys: Q2 smartphone shipments in Southeast Asia grow 14%

Asia Tech Wire (Aug 12) -- Smartphone shipments in Southeast Asia achieved a 14% year-on-year growth to 23.9 million units in the second quarter of 2024, according to new data from Canalys.

2024.07.12

10:16

TikTok kicks off local life business in Southeast Asia, report says

Asia Tech Wire (July 12) -- TikTok is trying to launch a local life business outside of China, with its first stop being Southeast Asia, according to Chinese media outlet 36Kr.

2022.03.08

04:23

Wavemaker closed fourth fund at $136 million to support southeast Asia tech startups

Asian Tech Press (Mar. 8) -- Singapore-based venture capital firm Wavemaker Partners LLC closed its fourth fund at $136 million to support startups in Southeast Asia's fast-growing technology sector.

2022.02.23

12:00

Alibaba shelves talks to raise $1 billion before potential Lazada IPO

Asian Tech Press (Feb 23) -- Chinese e-commerce giant Alibaba Group Holding Ltd (BABA:NYSE) has temporarily shelved talks to raise $1 billion before a potential IPO of Lazada, the company's e-commerce marketplace in Southeast Asia.

2021.12.17

10:38

Lazada archives 130 mln annual active consumers, aims for $100 billion GMV

Asian Tech Press (Dec 17) -- According to the latest data from Lazada, Alibaba's flagship e-commerce platform in Southeast Asia, the annual active consumers of Lazada have grown by 80% to 130 million in the past 18 months. Monthly active users have also increased by more than 70% to 159 million in the past 18 months.

2021.11.10

14:54

Alibaba-owned Lazada has about 800,000 merchants involved on Singles Day

Asian Tech Press (Nov 10) -- About 800,000 brands and merchants from all over the world are expected to participate in this year's Singles Day on Lazada, Alibaba's e-commerce marketplace in Southeast Asia.

09:19

Study: Southeast Asia enters "digital decade"

Asian Tech Press (Nov 10) -- A study by Google, Temasek Holdings and Bain & Co. shows that the size of the Internet economy in Southeast Asia will double to $363 billion by 2025, surpassing the previous forecast of $300 billion.

2021.09.28

09:24

ITOCHU partners with Chinese firm to launch EV rental business in Southeast Asia

Asian Tech Press (SEP 28) -- Japan's ITOCHU Corporation has announced that it will launch a commercial electric vehicle (EV) leasing business in Japan and Southeast Asia in cooperation with DST Car, a Chinese start-up.

2021.09.13

04:34

Shopee to launch short video app to compete with TikTok, sources say

Asian Tech Press (SEP 13) -- According to sources, Singaporean e-commerce giant Shopee will launch a short video app in the Southeast Asian market to directly compete with ByteDance's TikTok. The project has a high priority and budget, and its new team includes several former international members of ByteDance.

2021.09.09

09:08

Sea aims to raise $6.3 billion for further expansion

Asian Tech Press (SEP 09) -- Singapore's Sea Ltd. has filed documents saying it plans to raise $6.3 billion through equity and convertible bond offerings, making it one of the largest financings ever in the region.

2021.08.25

08:43

STMicroelectronics, Infineon halt production due to Covid outbreak

According to Bloomberg reports, with the Covid-19 outbreak in Malaysia out of control, the current daily average of new confirmed cases of more than 20,000 cases, resulting in the local government extending production shutdown measures. STMicroelectronics and Infineon will have to suspend production at some of their local plants, exacerbating the global semiconductor chip shortage problem.

2021.08.16

06:18

Alibaba's logistics arm launches 7 weekly China-Singapore direct flights

Southeast Asia has become an emerging e-commerce hotspot, with the total e-commerce volume in the region expected to grow by 14.3% this year, according to Emarketer. Considering that e-commerce transactions account for only 4.6% of overall retail sales this year and the continued impact of the epidemic, the region's e-commerce potential is enormous.

05:24

Google's new subsea cable to link Japan to Indonesia

Asian Tech Press --Alphabet Inc.'s Google announced Monday that Apricot, a new subsea cable that will connect Japan, Guam, the Philippines, Taiwan, Singapore and Indonesia, is expected to launch in 2024 and could significantly increase the resiliency of Google Cloud and digital services.

2021.07.21

10:28

TrendForce: Annual smartphone output to fall amid outbreak in Southeast Asia

Market research firm TrendForce announced that it had lowered its annual smartphone production forecast by 10 million units to 1.35 billion units in response to the rising Covid-19 infections in India and Vietnam recently. Since the epidemic in Southeast Asia is still severe, and there is no sign of relief shortly, it may affect the subsequent demand performance in the region. The global smartphone output will face another downward revision in the second half of the year.

2021.07.06

14:00

Fintech startup Pine Labs secures $600 million from Fidelity and BlackRock

Pine Labs, an online payments platform, today announced a new round of financing with participation from institutional investors such as Fidelity Investment Group and BlackRock.

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