Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="212412" type="COMPANY" weightage="20" keywordseo="Tencent">Tencent</keyword> is reportedly looking to set up a new regional hub in Singapore. </li><li>The Chinese company’s hiring site has over 70 open positions for its operations in the island-nation as it follows in the footsteps of <keyword id="3749909" type="PERSON" weightage="20" keywordseo="Bytedance">Bytedance</keyword> and <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword>. </li><li>The appeal of shifting to Singapore has increased for Chinese technology giants as China tightens its grip on Hong Kong. </li></ul>The Chinese app developer behemoth Tencent Holdings has had a rough month. But, it hopes to turn things around by setting up a new headquarters in Singapore, following in the footsteps of TikTok-parent Bytedance and e-commerce giant Alibaba. <div type="Article" hostid="261" msid="77890776" title="India bans PUBG, Ludo World, and 116 other Chinese mobile applications" mstype="2" mssubtype="0"></div> <a href="https://www.bloombergquint.com/business/tencent-picks-singapore-as-asia-hub-after-india-u-s-bans">Bloomberg</a> reports that the island nation will be the company’s new regional hub and geopolitical tensions continue to bear down on its operations. The appeal of Singapore for Chinese companies has increased in recent months as Beijing tightens its grip on Hong Kong. On Tencent’s <a href="https://careers.tencent.com/en-us/search.html?query=co_11&amp;sc=11">hiring site</a>, there has been a surge in the number of postings in Singapore — over 70 different vacancies — covering sales, technology development, human resources, product development, legal and policy affairs, and finance. Tencent is yet to respond to Business Insider’s request for comment. Tencent joins other Chinese technology giants Tencent isn’t the only Chinese company looking to Singapore to undercut the anti-China narrative. <keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword>’s owner <a href="https://www.straitstimes.com/asia/east-asia/tiktok-parent-plans-to-invest-billions-in-spore-add-hundreds-of-jobs">Bytedance</a> is also planning to set up in Singapore along with <a href="https://www.straitstimes.com/business/companies-markets/alibaba-in-talks-to-invest-us3-billion-in-grab">Alibaba</a>. Bytedance is <a href="https://www.aljazeera.com/ajimpact/bytedance-faces-exit-tiktok-singapore-beckons-report-200911083458622.html">reportedly</a> leading the consortium of Chinese companies that have applied for a digital bank license from Singapore apex banking institution, the Monetary Authority of Singapore (MAS). It comes as it looks to invest billions and add hundreds of jobs in the country over the next three years. Alibaba has already invested $4 billion to take control over Singapore’s homegrown e-commerce platform Lazada in 2016. And now, <a href="https://www.straitstimes.com/business/companies-markets/alibaba-in-talks-to-invest-us3-billion-in-grab">another investment of $4 billion</a> is reportedly in the works for Grab — a ride-hailing, food delivery and payment solution platform backed by Uber Technologies. The e-commerce giant’s Singapore ambitions are only highlighted by its <a href="https://www.channelnewsasia.com/news/business/alibaba-50-percent-stake-axa-tower-perennial-12709398">$1.2 billion deal</a> in May to buy out half of the 50-storey AXA Tower. Tencent looks to get back on top The compounded effect of India taking Tencent’s apps off its shelves — including the battle royale game PlayerUnknown’s Battlegrounds (PUBG) Mobile in India — and US President Trump’s executive order to prohibit WeChat led to the company <a href="https://www.businessinsider.in/business/news/pubg-ban-india-makes-chinese-company-tencent-loses-34-billion-in-2-days/articleshow/77924912.cms">losing $34 billion within two days.</a> Even South Korea’s PUBG Corporation announced that it would be <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-will-no-longer-be-developed-by-tencent-in-india/articleshow/77993013.cms">ending its publishing partnership with Tencent</a>. <div type="Article" hostid="261" msid="77993013" title="PUBG Mobile will no longer be developed by Tencent in India but experts say that may not be enough" mstype="2" mssubtype="0"></div> Lawyers <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-will-no-longer-be-developed-by-tencent-in-india/articleshow/77993013.cms">point out</a> that even though India’s ban on mobile apps exclusively targets Chinese companies, the order itself doesn’t say anything about China. It instead points to issues in data sharing that violate the rights of Indian users and the sovereignty of the country. Just disengagement from Tencent may not be of any particular benefit to PUBG Mobile, and Tencent shifting its base to Singapore may not solve the problem of Section 69 (A) of the Information Technology (IT) Act. SEE ALSO: <a href="https://www.businessinsider.in/policy/society/news/for-facebook-and-twitter-the-changes-to-indias-it-amendment-act-is-what-the-doctor-ordered-or-not/articleshow/78121530.cms">For Facebook and Twitter, the changes to India's IT (Amendment) Act is just what the doctor ordered — or not</a> <a href="https://www.businessinsider.in/defense/news/the-border-issue-with-china-remains-unresolved-indias-defence-minister-rajnath-singh-tells-parliament/articleshow/78124549.cms">The border issue with China remains unresolved, India's Defence Minister Rajnath Singh tells Parliament</a> <a href="https://www.businessinsider.in/business/ecommerce/news/snapdeal-says-it-has-just-tested-deliveries-using-robots-and-it-was-successful/articleshow/78120511.cms">Snapdeal says it has just tested deliveries using robots and it was successful</a>

Tencent joins Alibaba and Bytedance in making Singapore its new headquarters after India ban and tensions in the US

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Chinese e-commerce giant Alibaba is upping its investment in cloud computing in the United States, making it more of a competitor to <a href="http://www.businessinsider.com/urs-holzle-interview-2015-5">Amazon, Google, and Microsoft than ever before</a>. Alibaba's cloud division, Aliyun, has signed a series of new partnerships with the likes of Intel and data center company Equinix to localize its cloud offerings without having to build its own new data centers, <a href="http://www.cnbc.com/id/102736537">CNBC's Arjun Kharpal reports</a>. The slew of partnerships, which Alibaba is calling its <a href="http://www.businessfinancenews.com/22603-alibaba-group-holding-ltd-cloud-computing-arm-unveils-marketplace-alliance/">Marketplace Alliance Program</a>, focuses on expanding its cloud services globally, not just the US. Besides Equinix and Intel, it also signed a deal with Singtel in Singapore. Right now, cloud computing only constitutes a small chunk of Alibaba's <a href="http://www.businessinsider.com/alibaba-quarterly-results-2015-5">$2.8 billion in revenue last quarter</a>, but its new partnerships prove Aliyun doesn't plan to slow down. "There are more and more storage problems and more and more clients are in need for bigger storage capabilities," president of Aliyun, Simon Hu, told CNBC. Right now, Amazon is leading the pack in the US, making <a href="http://www.businessinsider.com/aws-revenue-is-bigger-than-its-four-closest-competitors-combined-2015-4">more revenue from its infrastructure services business, AWS, than its four closest competitors (Salesforce, Microsoft, IBM, and Google) combined. </a>Alibaba has been taking notes. "They are great role models for Aliyun and we want to learn from their strengths," Hu told CNBC. Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/russian-models-pose-with-bear-2015-4">Two models in Russia just posed with a 1,400-pound bear</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="dobDNwdDrBMVZujpjC92M8SlR9FEI06Y" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Alibaba boosts its investment in the 'cloud wars' against Amazon, Google, and Microsoft 

Chinese internet behemoth <keyword id="302749" type="COMPANY" weightage="100" keywordseo="Alibaba">Alibaba</keyword>, which means to enter the domestic e-commerce market by early next year, has held discussions to acquire online marketplace <keyword id="6357066" type="UNKNOWN" weightage="20" keywordseo="ShopClues">ShopClues</keyword>, which is valued at over $1 billion. Alibaba needs to merge the Paytm, in which it has a stake, with the much bigger adversary ShopClues, as it is prospecting several securing targets to solidify an India entry against opponent Amazon, people acquainted with the matter said. 
 The Gurgaon-based ShopClues numbers <keyword id="6357968" type="ORGANIZATION" weightage="20" keywordseo="GIC">GIC</keyword> of Singapore, <keyword id="526777" type="UNKNOWN" weightage="60" keywordseo="Tiger-Global">Tiger Global</keyword>, Nexus Venture Partners and Helion among its investors and has raised about $250 million till date. ShopClues is positioned as an online flea market, selling cheaper and generally unbranded merchandise to value shoppers. The organization, which is one among the top takeover targets in Indian e-commerce, is said to be reporting a revenue run-rate of $750 million based on the gross merchandise value of the products sold. 
 Investment bankers have taken multiple deal propositions to Alibaba in recent months. The Jack Ma-led Chinese goliath is hoping to sew up combination moves to challenge Amazon, which has already emerged as the nation's second-largest online marketplace and is seen threatening <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword>'s leadership. This includes getting a significant stake in Flipkart and merging smaller Indian opponents with it, or scaling up investments in <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> in which it is currently a little shareholder. 
 
The media has speculated about Alibaba's interest in Flipkart, however these parleys have stalled over differences in valuations. Incidentally, Flipkart has likewise been rumored as a potential suitor for ShopClues since Tiger Global is a large regular investor in both. 
 Former <keyword id="188699" type="COMPANY" weightage="20" keywordseo="Zynga">Zynga</keyword> and <keyword id="6363100" type="CITY" weightage="20" keywordseo="Yahoo">Yahoo</keyword> executive K Guru Gowrappan, who has been mandated to graph Alibaba's development in Asian markets (excluding China), is driving the M&amp;A chats with the senior management of ShopClues, sources, said. Gowrappan, who joined Alibaba in November a year ago, is spending more time in India to finalize Alibaba's entry strategy. Sources said he was in regards to join the leading body of One 97 Communications, the parent of Paytm, and is working from the latter's offices in Noida. 
 
Sources cautioned that the discussions with ShopClues may not lead to an exchange. Alibaba could value ShopClues at around $1 billion however the organization's management is negotiating for a higher valuation. The up and coming Diwali festival season sales would determine the valuations of several Indian e-commerce companies which are in the M&amp;A ring currently. 
 
Meanwhile, Alibaba bunch, which holds around 40% stake in Paytm, has already started the process to separate the Noida-based organization's core payment business and the smaller commerce business into two separate entities. Alibaba is keen on moving the battling and money swallowing marketplace of Paytm into one of the larger blends it is seeking after in the nation. Paytm clearly sees its future as a payments organization and has attempted to locate a new investor or sell off the commerce in recent past.

Alibaba reportedly in talks to acquire Shopclues

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul><li>Another Hong Kong stock just plunged, shedding 76% of its value in 30 minutes of trading. </li><li>China First Capital Group, an investment group that focuses on educational services across China and Singapore, plummeted a total of 78% on Wednesday before trading was suspended at 11:15 a.m. local time. </li><li>CFCG's fall comes after ArtGo, the world's best performing stock this year, <a href="https://markets.businessinsider.com/news/stocks/artgo-worlds-best-performing-stock-98-percent-price-drop-2019-11-1028708885">fell 98% in a single morning</a> last week.</li><li>According to <a href="https://www.bloomberg.com/news/articles/2019-11-27/hong-kong-stock-s-78-collapse-adds-to-wave-of-sudden-crashes">Bloomberg</a>, the stock swings in Hong Kong are shining a light on corporate governance practices within the city.</li><li><a href="https://businessinsider.com">View Business Insider's homepage for more stories. </a></li></ul>Another Hong Kong stock just plunged, shedding 76% of its value in 30 minutes of trading. China First Capital Group, an investment group that focuses on educational services across China and Singapore, plummeted a total of 78% on Wednesday before trading was suspended at 11:15 a.m. local time, not even making it to the lunch break. CFCG's fall comes just a week after ArtGo, a marble-mining company listed in Hong Kong, <a href="https://markets.businessinsider.com/news/stocks/artgo-worlds-best-performing-stock-98-percent-price-drop-2019-11-1028708885">fell 98% in a single morning</a> of trading, wiping more than $5.8 billion from its market capitalization before trading was suspended.According to <a href="https://www.bloomberg.com/news/articles/2019-11-27/hong-kong-stock-s-78-collapse-adds-to-wave-of-sudden-crashes">Bloomberg</a>, the stock swings in Hong Kong are shining a light on corporate governance practices within the city. Often, large swings like the ones by CFCG and ArtGo are due to major shareholders selling the stock because they borrowed against their positions. Bloomberg said this can "lead to a domino effect when companies are connected by investors or business lines, and it's not always clear under Hong Kong's disclosure rules when a stake has been pledged."CFCG is smaller than ArtGo, with a market cap of $2.26 billion HKD ($289 million) versus ArtGo's market cap of $5.8 billion prior to its fall. ArtGo had been the best performing stock in the world this year with a 3,800% gain, making its 98% fall even more dramatic. On Tuesday, it looked like the Hong Kong Stock Exchange's fortunes started to turn around after a poor few months. Protests within the city delayed Alibaba's IPO earlier this year, and the exchange's <a href="https://markets.businessinsider.com/news/stocks/lse-board-rejects-hong-kong-stock-exchange-bid-refinitiv-is-on-track-2019-9-1028523109">bid for the London Stock Exchange failed.</a>However, Alibaba delivered a successful debut on the exchange this week, with its <a href="https://markets.businessinsider.com/news/stocks/alibaba-stock-soars-7-percent-hong-kong-2019-largest-ipo-2019-11-1028717516">stock rising 6.6%</a> after all of the shares offered plus the extra greenshoe shares were sold on the first day of trading. One analyst described it as a major boost to both the city and the stock exchange. Alibaba rose another 3% on Wednesday, bringing its total gain close to 10% in two days. <a href="https://www.businessinsider.com/intelligence/10-up-and-coming-fintechs-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=finance&amp;itm_campaign=10-up-and-coming-fintechs-2019-2"></a>

A Hong Kong stock just plunged 76% in 30 minutes

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Joshua Roberts/ReutersPresident Donald Trump</div></div></div><ul><li>President Trump issued an executive order Monday blocking Broadcom's takeover of Qualcomm.</li><li>Trump said there is "credible evidence" that Broadcom "might take action that threatens to impair the national security of the United States."</li><li>Broadcom is based in Singapore, and Qualcomm is based in San Diego, California.</li></ul>President Trump issued an executive order Monday blocking the impending takeover of Qualcomm by Broadcom Limited.Broadcom, a chipmaker incorporated in Singapore, was looking to take over Qualcomm, a San Diego-based rival.The Trump administration has previously blocked China-related deals, including the sale of Lattice Semiconductor to an investment group, and the acquisition of Moneygram by an Alibaba-affilifated company.Here's the key part of President Trump's executive order: There is credible evidence that leads me to believe that Broadcom Limited, a limited company organized under the laws of Singapore (Broadcom), along with its partners, subsidiaries, or affiliates, including Broadcom Corporation, a California corporation, and Broadcom Cayman L.P., a Cayman Islands limited partnership, and their partners, subsidiaries, or affiliates (together, the Purchaser), through exercising control of Qualcomm Incorporated (Qualcomm), a Delaware corporation, might take action that threatens to impair the national security of the United States; ...On the basis of the findings set forth in section 1 of this order, considering the factors described in subsection 721(f) of the Defense Production Act of 1950, as appropriate, and pursuant to my authority under applicable law, including section 721, I hereby order that: (a) The proposed takeover of Qualcomm by the Purchaser is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected directly or indirectly, is also prohibited. This story is developing... <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/555-phone-number-tv-movies-telephone-exchange-names-ghostbusters-2018-3">Why 555 is always used for phone numbers on TV and in movies</a></h3> <div> </div> </div>

President Trump blocks the Broadcom takeover of Qualcomm on national security grounds

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Lyft</div></div></div>Didi Kuaidi, Uber's chief rival in China, reportedly invested in Lyft - Uber's biggest US rival - earlier this year, <a href="http://www.wsj.com/articles/ubers-chinese-rival-didi-kuaidi-quietly-backs-its-u-s-rival-lyft-1441864107">The Wall Street Journal reports</a>.Didi Kuaidi joins a slew of other Asian investors in Lyft, including Alibaba, Rakuten, and Tencent.Citing sources close to the matter, The Wall Street Journal reports that Lyft has "discussed ways to work with its Chinese investors to compete strategically with Uber, including sharing product plans."Earlier this week, Didi Kuaidi <a href="http://www.businessinsider.com/uber-china-rival-didi-kuaidi-raises-3-billion-2015-9">closed a $3 billion round of venture capital funding</a>. In total, Didi Kuaidi has amassed a $4 billion war chest of venture capital funding. Didi Kuaidi was created in February when competing apps Didi Dache and Kuaidi Dache merged to cut the costs of competing with each other - and more importantly, with Uber.The ride-sharing and ride-hailing arms race in China is only heating up with Uber's biggest rival in the country making an investment in Uber's biggest US rival. Previously, Didi Kuaidi invested in GrabTaxi, a Singapore-based ride-hailing service, which closed a $350 million round of funding in August.Uber's China branch <a href="http://www.businessinsider.com/uber-rival-didi-kuaidi-just-raised-3-billion-2015-9">recently closed a $1.2 billion round of funding</a>. Uber is aggressively expanding its Chinese footprint, with plans to operate in <a href="http://www.businessinsider.com/r-uber-to-enter-100-new-chinese-cities-in-next-12-months-ceo-2015-9">100 more cities in the country in the next year.</a>Lyft, on the other hand, has chosen to focus on its operations in the US instead of expanding internationally. (Lyft declined to comment for this story.) In July, Didi Kuaidi <a href="http://graphics.wsj.com/billion-dollar-club/?co=Didi%20Kuaidi">was valued at $15 billion</a>. Uber, by comparison, was most recently <a href="http://graphics.wsj.com/billion-dollar-club/?co=Uber">valued at $51 billion.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-uber-ceo-travis-kalanick-made-billions-2015-7">The insanely successful life of Uber billionaire Travis Kalanick</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="xwY2lmdjrD0sKNXKjphpxxEqtRvRDYXG" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Uber's top Chinese rival has reportedly invested in Lyft, Uber's biggest US competitor

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Lyft</div></div></div>Didi Kuaidi, Uber's biggest competitor in China, is teaming up with Lyft - Uber's biggest US competitor - to take on Uber.The Wall Street Journal broke the news minutes before the two companies were to hold a press conference together in New York to make the announcement.<a href="http://www.wsj.com/articles/uber-rivals-form-international-alliance-1442429031">According to the Journal,</a> Lyft and Didi are in talks to expand their alliance with other Asian ride-hailing companies - India's Ola and Singapore's GrabTaxi.Lyft CEO Logan Green said during the companies' press conference that the partnership will go into effect early next year.In addition to announcing the alliance, the two companies have confirmed earlier reports that Didi Kuaidi invested in Lyft's recent round of funding earlier this year, joining Asian investors Rakuten, Alibaba, and Tencent. Specifically, Didi Kuaidi invested $100 million in Lyft's Series E round.You'll be able to pay in your native currency on each app, so as to avoid having to pay for your Didi ride or your Lyft ride in a foreign currency, depending on where you live. So if you're an American visiting China, you can open the Lyft app to pay for and order a Didi, and then Lyft will give whatever money it made from your ride to Didi.The companies said in a press release that the number of visits between the US and China "totaled more than 7.8 million" last year, and the partnership is intended to increase both companies' global footprint and make traveling easier. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/uber-versus-taxi-california-2015-6">Is Uber really cheaper than a taxi?</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Zmc3Z1cDoefsaxh4d9RwdpJj_TkDZlTs" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Uber's biggest competitor in China is partnering up with Uber's biggest US competitor, Lyft

Good morning! This is the tech news you need to know this Tuesday. <a href="http://newsletter.businessinsider.com/join/4np/10-things-in-tech&amp;hash=8122c716833601fc1471f79af063b104?nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=10_things_tech&amp;utm_campaign=Post%20Blast%20sai:%2010%20things%20in%20tech%20you%20need%20to%20know%20today&amp;utm_term=10%20THINGS%20IN%20TECH%20YOU%20NEED%20TO%20KNOW%20-%20ENGAGED%2C%20ACTIVE%2C%20PASSIVE%2C%20DISENGAGED0PASSIVE%2C%20DISENGAGED">Sign up here</a> to get this email in your inbox every morning.Have an Amazon Alexa device? Listen to this update by searching "Business Insider" in your flash briefing settings.<ol><ol><li>The UK blocked Julian Assange's extradition to the US. A district judge <a href="https://www.businessinsider.com/julian-assange-no-extradition-mental-health-risk-2021-01">ruled that Assange</a>, who faces a litany of hacking and espionage charges in the US, was a suicide and self-harm risk. </li><li>Jack Ma may have vanished. The Alibaba and Ant Group founder <a href="https://www.businessinsider.com/alibaba-founder-jack-ma-suspected-missing-2021-1">has not been seen publicly</a> in more than two months, and he was abruptly replaced as a judge on the African talent show he founded. </li><li>Googlers plan to form a union. More than 200 staff at Google's parent company Alphabet <a href="https://www.businessinsider.com/google-alphabet-workers-form-union-us-canada-contractors-2021-1">have formed the Alphabet Workers Union</a>, which is open to all employees across the US and Canada. </li><li>Slack had an outage on the first workday of 2021. The company is heavily relied on thanks to the pandemic, and <a href="https://www.businessinsider.com/slack-down-outage-users-report-issues-2021-1">some 15,000 users reported issues</a>. </li><li>A 12-year-old may sue TikTok over data privacy. The girl, <a href="https://www.businessinsider.com/tiktok-legal-action-12-year-old-girl-childrens-data-2021-1">who on Wednesday won the right</a> to remain anonymous should she bring a case against the short form-video company, is being supported by England's children's commissioner, Anne Longfield. </li><li>Samsung will launch brand new Galaxy phones. The firm <a href="https://www.businessinsider.com/samsung-launch-galaxy-smartphones-one-month-earlier-livestream-2021-1?op=1&amp;scrolla=5eb6d68b7fedc32c19ef33b433b4">is holding a launch on January 14</a>, about a month earlier than usual, and <a href="https://www.businessinsider.com/samsung-may-launch-flagship-phone-early-to-grab-huawei-share-sources-2020-11">sources</a> have indicated that the early launch is designed to grab market share from Huawei and fend off competition from Apple. </li><li>Singapore's police can use its contact-tracing app data. Singapore is under renewed scrutiny after updating the privacy policy of its national contact tracing app TraceTogether, and now says that police can access user data if someone is under criminal investigation. </li><li>Bitcoin fell 17%. It <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-biggest-drop-since-march-after-record-crypto-volatility-2021-1-1029930393">fell back on Monday</a> below $30,000 at intraday lows after hitting a record high of $34,792.47 on Sunday. </li><li>Google and Snap may invest in an Indian startup. <a href="https://techcrunch.com/2021/01/04/google-and-snap-in-talks-to-invest-in-india-social-network-sharechat/">According to TechCrunch</a>, the pair may invest in ShareChat, a video messaging service. </li><li>Exclusive: Instagram offers advice on how often to share. Three creators told Business Insider that <a href="https://www.businessinsider.com/instagram-gives-some-influencers-recommendations-on-how-much-to-post-2021-1">Instagram had privately shared specific guidance</a> with them about how frequently to post on the platform and what types of posts would help them boost their follower counts and engagement rates.</li></ol></ol>

10 things in tech you need to know today

,<ul class="summary-list"><li>Alibaba shares rose 9% after news emerged founder Jack Ma was ceding control of affiliate fintech firm Ant Group.</li></ul><ul class="summary-list"><li>The gains also come on the back of a broader market rally in Asian shares, thanks to China's reopening.</li></ul><ul class="summary-list"></ul>Shares of Alibaba surged to a six-month high on Monday, joining a broad-based rally in Asia after China reopened its international borders, signaling the country's back in business.Shares of tech giant Alibaba led the gains — leaping 9% to a six-month high, before closing 8.7% higher, after news emerged over the weekend that founder <a href="https://www.businessinsider.com/jack-ma-appears-resurface-thailand-gives-up-control-ant-group-2023-1">Jack Ma was ceding control</a> of Alibaba affiliate Ant Group, following <a href="https://www.businessinsider.com/insider-guide-china-tech-crackdown-from-algorithms-to-crypto-mining-2021-10">China'</a><a href="https://www.businessinsider.com/insider-guide-china-tech-crackdown-from-algorithms-to-crypto-mining-2021-10">s crackdown on tech companies</a> since 2020. The stock had fallen 27% in 2022. Ma, an outspoken teacher turned tech titan, was once a high-profile jet-setter, and the face of China's Big Tech. But he has been lying low since October 2020, after giving a speech criticizing China's financial regulatory system. His words <a href="https://www.reuters.com/article/ant-group-ipo-suspension-regulators/how-billionaire-jack-ma-fell-to-earth-and-took-ants-mega-ipo-with-him-idUSKBN27L2GX" rel=" nofollow">angered the Chinese authorities,</a> prompting intense regulatory scrutiny of his businesses and a wider <a href="https://www.businessinsider.com/insider-guide-china-tech-crackdown-from-algorithms-to-crypto-mining-2021-10" rel="">crackdown on tech firms</a> in the country.The <a href="https://www.ft.com/content/2f7c7a10-2df3-4f1b-8d2a-eea0e0548713" target="_blank" rel="noopener">Financial Times</a> reported in November Ma had been <a href="https://www.businessinsider.com/alibaba-jack-ma-tokyo-japan-china-beijing-tech-crackdown-2022-11">living in Tokyo</a> for six months, and he was spotted last week in <a href="https://www.businessinsider.com/jack-ma-appears-resurface-thailand-gives-up-control-ant-group-2023-1">Bangkok, Thailand.</a>However, on December 29, <a href="http://www.cbirc.gov.cn/branch/chongqing/view/pages/common/ItemDetail.html" target="_blank" rel="noopener">China's Banking and Insurance Regulatory Commission</a> approved Ant to more than double its registered capital in its consumer finance arm to 18.5 billion Chinese yuan ($2.7 billion). This led to an 18% gain in Alibaba's stock price last week, as "the market believes the governmental investment means that the conflict between Jack Ma and the authorities has come to an end," Ming Lu, the China head at Singapore-based Aequitas Research wrote in a note on Monday.Furthermore, a <a href="https://www.caixinglobal.com/2023-01-09/china-wraps-up-two-year-tech-crackdown-top-official-says-101986872.html" target="_blank" rel="noopener">top Chinese central banker's suggested</a> over the weekend that Beijing's tech crackdown is coming to a close, fuelling positive sentiment in the country's tech sector.The Hang Seng Tech Index — an index that tracks the 30 largest tech companies listed in Hong Kong — closed 3.2% higher. Shares of Hong Kong-listed Chinese tech giants Tencent and NetEase closed 3.6% and 2.6% higher respectively.Overall, Asian shares also rallied on Monday. China's reopening boosted market sentiment after the country <a href="https://www.reuters.com/world/china/china-reopens-borders-final-farewell-zero-covid-2023-01-08/" target="_blank" rel="noopener">reopened international borders</a> on Sunday, allowing incoming travelers to enter without quarantine — a major reversal after three years of strict zero-COVID policies.Hong Kong's Hang Seng Index closed 1.9% higher, the Shanghai Composite Index gained 0.6%, and the Shenzhen Composite Index rose 0.7%.Outside China, South Korea's Kospi closed 2.6% higher, while Nikkei futures were up 0.9%. Japanese markets were closed for a public holiday on Monday.<h2>Markets are bouncing back, thanks to China's reopening</h2>There could be further upside ahead, Nomura analysts wrote in a note on Monday."China's reopening momentum has been faster-than-market, and our own, expectations – though it has resulted in a temporary surge in new cases and depressed mobility, we think investors should or will 'look through' and focus on an eventual economic and earnings recovery later in 2023," Nomura analysts in a note on Monday morning.While sentiment is high amid China's economic reopening, some analysts caution the ride may be bumpy as the country battles a <a href="https://www.businessinsider.com/china-covid-likely-million-cases-thousands-deaths-daily-2022-12">massive surge in COVID-19 infections</a>, after reversing pandemic policies abruptly last month."While that is a positive step towards a longer-term growth recovery, the near-term risk of virus waves are put into question, which could be catalysts for jitters over the coming weeks," Yeap Jun Rong, a market strategist at IG, an online trading platform, wrote on Monday.

Alibaba shares hit 6-month high after Jack Ma cedes control of Ant Group, amid a broad rally in Asian shares

Didi Kuaidi, China's largest taxi aggregator app, which is backed by internet behemoth Alibaba, would soon invest in homegrown Ola, thus making the <keyword id="1042120" type="PERSON" weightage="100" keywordseo="Uber">Uber</keyword> vs Ola battle bloodier than before. 

	Didi's investment in Bangalore-headquartered Ola comes close on the heels of it picking up stakes in San Francisco-based Lyft and Malaysia's GrabTaxi, signalling a global alliance against the cashrich Uber.
 People close to the development told TOI that Ola, formerly Olacabs, is finalizing the second tranche of $200 million of its $500 million financing round led by GIC, Singapore's sovereign wealth fund, Didi Kuaidi, and <keyword id="2649768" type="PERSON" weightage="100" keywordseo="Baillie-Gifford">Baillie Gifford</keyword>, a Scottish investment firm which is a shareholder in Flipkart, valuing the Indian cab-hailing app at $5 billion. 

	GIC, which put in a small amount when Ola scored $400 million led by DST Global earlier this year, is expected to pump as much as $100 million this time around while Didi mayinvest around $30 million. Russian billionaire Yuri Milner's DST Global is also likely to participate in the latest round, sources said. TOI had reported first, in its August 10 edition, about New York-based hedge fund FalconEdge, Softbank Corp and Tiger Global putting the first chunk of $300 million into Ola. Separate email queries sent by TOI regarding the financing round to Bhavish Aggarwal, co-founder &amp; CEO of Ola, Didi Kuaidi and GIC did not elicit a response till the time of going to press. A spokesperson for Baillie Gifford said, "I am afraid that on this occasion we will not be able to offer any comment."
 

	"There's a lot of interest in this round and it may even get oversubscribed. As of now it's likely to close at $500 million.Things are still to be worked out fully," said a person privy to the matter. Even as Ola builds a bigger war chest, there has been talk of the Travis Ka lanick-led Uber looking to raise $1billion for India separately, just like it racked up $1.2 billion for China recently , two markets which are of enormous significance for the company . Uber, the most-valued tech startup worldwide at $51billion, also became the youngest privately-held company to cross the $50 billion valuation mark, beating Facebook's record in July this year.
 Despite being buffeted by regulatory hurdles, both Ola and Uber have been aggressively rolling out new services, discounting, announcing millions in investments along with introducing driver initiatives as competition to corner market share intensifies in Asia's third largest economy which has seen smartpho ne usage grow exponentially .The five-year-old Ola, which came to life in Mumbai, presently leads the domestic taxi app market and claims to be doing as many as 750,000 rides a day while Uber, while announcing its $1 billion investment plan for India, said that it aims to touch 1million rides over the next 9 months from the present 200,000. Ola's pole position got cemented earlier this year when it acquired its smaller rival TaxiForSure . A month before Ola acqui red TFS in India, China's largest taxi-hailing app <keyword id="2677023" type="UNKNOWN" weightage="100" keywordseo="Didi-Dache">Didi Dache</keyword> merged with its closest competitor Kuaidi Dache, backed by internet conglomerate Tencent Holdings and in vestors like Alibaba, SoftBank and Tiger Global, to form a $6-billion transportation powerhouse. Didi Kuaidi is valued at $16 billion and is Uber's biggest competitor worldwide, having raised $4.4 billion in investor money. The Chinese taxi app has been aligning all of Uber's rivals to fight the startup which is spread across 300 cities globally. 
	 
	(Image credits: Indiatimes)

Ola-Didi Kuaidi to take on Uber together

<ul><li><keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> is in talks to raise $400 million from Ant Financial and Temasek, which could give it a <keyword id="51393" type="PERSON" weightage="20" keywordseo="valuation">valuation</keyword> of as much as $2 billion. </li><li>Earlier this week, <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> raised $210 million from Naspers and DST Global, which helped it breach the $1 billion valuation mark. </li><li>Swiggy reportedly leads Zomato in terms of orders, clocking in more than 10 million orders a month compared to Zomato’s 7 million. </li></ul> Zomato, a restaurant discovery and <keyword id="6376068" type="UNKNOWN" weightage="20" keywordseo="food-delivery">food delivery</keyword> app, is reportedly in final negotiations to raise an additional $400 million from its investors Ant Financial, which is owned by Alibaba, and Singapore’s Temasek Holdings. The potential investment, which was reported by Livemint, could value the company at as much as $2 billion. Talks have reportedly been going on since early April. A threat from a rival <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> The report come swiftly after rival food delivery service Swiggy closed a $210 million infusion in a funding round which was led by Naspers, a South African media conglomerate, and DST Global, which is owned by Israeli-Russian billionaire Yuri Milner. The investment has catapulted Swiggy to the unicorn club by giving it a valuation of $1.3 billion. This is a significant achievement for a company that is only four years old. It took Zomato more than twice the time to become a unicorn. The investment puts Swiggy ahead of Zomato, in terms of valuation, until the latter’s funding round is completed. In February, Ant Financial ploughed <a href="https://www.moneycontrol.com/news/business/startup/zomato-raises-200-million-from-ant-small-and-medium-financials-2498127.html">$200 million</a> into Zomato, valuing it at $1.1 billion in the process. Swiggy was valued at around $700 million around the same time. Another battleground As the companies take on each other in terms of valuations, they will also try to muscle each other out in a hotly-contested market. Swiggy currently leads Zomato in terms of orders, clocking in more than 10 million a month as compared to Zomato’s 7 million. Alongside the e-commerce and ride-hailing sectors, the online food delivery space is another battleground for tech companies in India. A number of companies are competing in the space, including ride-hailing apps like Uber, which is ramping up its UberEats services, and Ola, which acquired Foodpanda late last year. As they try and seize each other’s market share and make inroads into new cities, a lot of cash will be spent on supply chain expansion while handouts will be given to entice restaurants and customers to come aboard.

Zomato will likely stay ahead of rival Swiggy in latest round of valuations

The Securities and Exchange Board of India (<keyword id="35210" type="ORGANIZATION" weightage="80" keywordseo="sebi">Sebi</keyword>) should encourage startups as they have raised over Rs 50,900 crore in venture funding since 2012, while mature companies have raised only Rs 13,462 crore through initial public offerings (IPOs) in the same period, reported the Economic Times. Indian stock markets are not the first destination for most of these startups when they want to list. Most of them prefer to list abroad — London's Alternative Investment Market (AIM), New York's <keyword id="6357328" type="COMPANY" weightage="80" keywordseo="NASDAQ">Nasdaq</keyword>, and Singapore's SSX, which attract new age internet companies like magnets. 

	Recently, Sebi chairman UK Sinha spent several weeks meeting entrepreneurs before the regulator came up with a new set of relaxed norms for startups to list on a proposed Institutional Trading Platform (ITP). This, Sebi hopes, will help India compete better with global markets.
 But startup founders and investors have different opinion about it. "ITP is a good step," Vijay Shekhar Sharma, founder, <keyword id="6357120" type="UNKNOWN" weightage="80" keywordseo="PayTM">Paytm</keyword>, told ET. 

	Paytm is a mobile wallet-cum-commerce startup. 
 

	"But the Indian environment (read investors) chases only profitable growth. Internet companies are in the early growth phase. Their businesses are disruptive — like changing user buying and selling behaviour. They need to be looked at with different mindsets," he said.
 According to Indian Software Product Industry Roundtable (iSPIRIT), India has 3,100 startups. iSPIRIT is a group of software product companies, which interacted with the <keyword id="6378893" type="UNKNOWN" weightage="60" keywordseo="market-regulator">market regulator</keyword> to push for the new platform. This is set to multiply to more than 11,000 in just the next five years. <keyword id="6361649" type="CITY" weightage="80" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> sees eCommerce accounting for 2.5% of the country's Gross Domestic Product by 2030, growing 15 times to touch $300 billion, from $20 billion at present. Yet the current listing norms are unattractive for startups to list in India. Global investors as diverse as New York based investment firm Tiger Global, China's Ant Financials, an arm of <keyword id="163405" type="CITY" weightage="80" keywordseo="Alibaba-Group">Alibaba Group</keyword> and Japan's <keyword id="280185" type="COMPANY" weightage="60" keywordseo="Softbank-Corp">Softbank Corp</keyword> have been bank rolling startups here. This is great for the entrepreneurial ecosystem. But the cycle is complete only when startups list locally offering wealth creation opportunities to Indian investors. 
	 
	(Image: Indiatimes)

Startups aren’t convinced by SEBI’s listing guidelines. There’s something else they want

New Delhi, Nov 28 () Digital payments major Paytm is looking at raising another round of funding of USD 1 billion, and is in discussion with multiple investors, including former UK Prime Minister David Cameron, according to sources.
 Sources close to the development said the discussions are on and might take a few weeks to get finalised.
 They added that the funds will be used to expand the merchant offerings across India to equip them with technology and various other services.
 Paytm declined to comment, while a response from Cameron could not be elicited immediately.
 Paytm had earlier this week announced a USD 1 billion (around Rs 7,173 crore) fund raise led by US-based asset management firm T Rowe Price. Existing investors Alibaba, Softbank and Discovery Capital had also participated in the funding round.
 Interestingly, Paytm founder and Chief Executive Officer Vijay Shekhar Sharma tweeted a photograph of him and Cameron on Thursday.
 "With so inspiring and savvy @David_Cameron in Singapore! Thanks Sir for your lesson on giving back to society and creating social impact with business," he added.
 On Monday, Paytm had said it is planning to invest around USD 1.4 billion over the next three years to expand financial services.
 Reports earlier this year had stated that Paytm, which is facing mounting losses, was looking at raising up to USD 2 billion in funding. The company has said it will look at a public listing only after 2021.
 Paytm had raised USD 300 million from Warren Buffett's Berkshire Hathaway in September last year.
 One97 Communications Ltd (OCL), the parent company of Paytm, had posted a loss of Rs 3,959.6 crore in 2018-19 as against Rs 1,490 crore a year ago, and its standalone revenue rose marginally to Rs 3,319 crore from Rs 3,229 crore in 2017-18, as per reports. SR HRS

You Searched For "alibaba investment singapore" and got 13 results

Tencent joins Alibaba and Bytedance in making Singapore its new headquarters after India ban and tensions in the US

Prabhjote Gill

Alibaba boosts its investment in the 'cloud wars' against Amazon, Google, and Microsoft

JILLIAN D'ONFRO

Alibaba reportedly in talks to acquire Shopclues

Gaurav Sangwani

A Hong Kong stock just plunged 76% in 30 minutes

Yusuf Khan

President Trump blocks the Broadcom takeover of Qualcomm on national security grounds

Becky Peterson

Uber's top Chinese rival has reportedly invested in Lyft, Uber's biggest US competitor

Maya Kosoff

Uber's biggest competitor in China is partnering up with Uber's biggest US competitor, Lyft

Maya Kosoff

10 things in tech you need to know today

Shona Ghosh

Alibaba shares hit 6-month high after Jack Ma cedes control of Ant Group, amid a broad rally in Asian shares

Huileng Tan

Ola-Didi Kuaidi to take on Uber together

BI India Bureau

Zomato will likely stay ahead of rival Swiggy in latest round of valuations

Dilsher Dhillon

Startups aren’t convinced by SEBI’s listing guidelines. There’s something else they want

BI India Bureau

Paytm in talks to raise another USD 1 bn funding: Sources

PTI

Popular Keywords

Buying Guides