Asia news roundup: Ola goes Down Under, Bytedance sues Baidu, and more

Goxip co-founders Juliette Gimenez (L) and YC Lau (R) / Photo credit: Goxip

Here are the day’s headlines.

Fintech

SpherePay announces US$10 million funding and oBike integration (Singapore). The mobile payments startup has raised over US$10 million from undisclosed investors. It will use the funding to expand in Southeast Asia and add new features, such as bill payments and location-based services. SpherePay has also updated its partnership with oBike, under which the bike-sharing firm’s operating system will be integrated into SpherePay’s app to support features such as geofencing and on-demand delivery. (SpherePay)

BTCC bought out by Hong Kong investors (China). Formerly known as BTC China, BTCC became the country’s first cryptocurrency exchange when it was founded in 2011. Amid China’s regulatory crackdown on exchanges and other cryptocurrency trading-related businesses, it has been acquired by undisclosed Hong Kong-based investors, and will focus exclusively on serving the international market going forward. (Bloomberg)

Ecommerce

PCCW enters ecommerce space (Hong Kong). The Hong Kong telco has launched its own ecommerce platform, Habbitzz, to tap what it says is the territory’s “poorly served” market. The site will focus on premium products to compete with incumbents such as Amazon and Taobao, and is headed by former JD chief operating officer Alex Bono. (Mumbrella)

Transportation

Ola begins Australia hiring drive in first international expansion (Australia/India). The Indian ride-hailing firm will begin inviting private vehicle owners and driver partners to work with it in Melbourne, Perth, and Sydney, with a view to commence commercial operations in early 2018. Ola has been planning potential services beyond its home market, eyeing Bangladesh, Sri Lanka, Australia, and New Zealand. (Reuters)

Marketing and advertising

The Goxip team / Photo credit: Goxip

Goxip raises US$5 million to diversify into influencer marketing (Hong Kong). The social shopping startup will use the funding to develop an influencer marketing platform for the fashion industry. Chinese selfie app firm Meitu led the round, with Nan Fung Group’s Mills Fabrica Fund participating. (Goxip)

Health and well-being

Innostic closes US$39 million series A round (China). The Shanghai-based startup provides medical device supply chain management for healthcare organizations. Japanese financial services firm Orix led the round, with Qiming Venture Partners, June Lead Capital, Qiaojing Capital, and Baoyue Capital joining in. (China Money Network)

Media and entertainment

Bytedance sues Baidu over web search results (China). The company behind popular personalized news app Toutiao has sued Baidu for unfair competition. It claims that Baidu, which operates China’s leading internet search engine, deliberately places negative news about Toutiao higher up in search results. (China Money Network)

Retail

Chengdu’s first staffless convenience store reportedly shuts down (China). The flagship Gogo store run by local startup Xiao Mang Guo Technology opened in the Sichuanese city four months ago. Reports today suggest the store has closed with at least 30 of the startup’s employees claiming that wages have gone unpaid. The cashierless space is becoming a rapidly crowded one in China, with numerous startups competing against big tech players like Alibaba, JD, and Tencent. (Technode)

Big tech

Google completes HTC acquisition (Taiwan/US). The US tech giant has finalized its takeover of the Taiwanese company’s smartphone design business. Around a fifth of HTC’s engineering team is moving to Google, which will also receive a non-exclusive license to HTC’s intellectual property as part of the US$1.1 billion deal announced last September. (Google)

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