Asia news roundup: Ola acquires Ridlr, Grab-Uber deal scrutinized, and more

Ridlr can help Indian commuters navigate traffic / Photo credit: Igor Ovsyannykov / Unsplash

In transportation tech today, one big deal was confirmed, one was rumored, while another was put under the competition watchdog’s microscope.

Transportation

Ola acquires public transport app Ridlr (India). The ride-hailing firm has acquired Ridlr in an all-stock deal reportedly worth around US$50 million. Ridlr allows users to book tickets for public transport and monitor traffic, and had previously raised funds from the likes of Matrix Partners, Qualcomm, and Times Internet. Ola hasn’t detailed how it will integrate Ridlr, but this may enable it to add public transport booking options to its own platform in the future. (TechCrunch)

Meituan-Dianping rumored to buy major Mobike stake (China). On-demand online services giant Meituan-Dianping is said to be acquiring a large stake in bike-sharing startup Mobike, according to several reports in local media. Earlier rumors suggested Meituan might buy the whole of Mobike’s business in a US$3.7 billion deal, though other sources disputed this. Meituan is making a move into transportation, having launched its own ride-hailing service in Shanghai last month. (Reuters)

Grab-Uber deal faces antitrust scrutiny (Malaysia/The Philippines). Authorities in Malaysia and the Philippines said they will look into whether Grab’s takeover of rival Uber’s Southeast Asia ride-hailing business encroaches on anti-competition laws. Singapore had announced a probe days earlier based on the same concerns. (Reuters)

Marketing and advertising

The Insider management team / Photo credit: Insider

Insider closes US$11 million series B funding (India). Digital marketing platform Insider has landed US$11 million in a series B round led by VC firm Sequoia Capital’s India fund.  The company said the funds will be used to double down on Asia, where demand remains strong. It also launched its new Integrated Growth Management Platform, which will use artificial intelligence and machine learning to better match marketers with the right consumers. (Insider)

Media and entertainment

Watcha raises US$12 million at series C (South Korea). The content streaming startup, previously called Frograms, has completed a series C funding round led by multiple investors including Neoplux, Songhyun Investment, and Hashed. The company, which provides a subscription-based video-on-demand service, will use the funds to bolster its presence in its domestic market and expand abroad. (Watcha)

Image credit: Watcha

Alibaba enters the video game market (China). The ecommerce giant signed a deal with Hit Point, the Japanese company responsible for titles Travel Frog and Neko Atsume: Kitty Collector. With this deal, the firm acquires exclusive distribution rights in mainland China for Travel Frog, which has scored high in popularity among Chinese players. (Technode)

Ecommerce

SoftBank and Alibaba invest US$445 million in Paytm (India). According to a regulatory filing, Japan’s SoftBank is injecting US$400 million of fresh funds into Indian e-tailer Paytm. China’s Alibaba is investing US$45 million into the company. Paytm said the funds will be used to strengthen its tech and logistics systems, among others. Both investors already hold stakes in the company. (Reuters)

Social media

Cabinet minister threatens Facebook shutdown ahead of presidential elections (Indonesia). The country’s communications minister Rudiantara said a Facebook ban might be imminent if any evidence is found suggesting Indonesian citizens’ personal data has been leaked, following its recent involvement in data-harvesting scandals in the US and Europe. The minister also voiced concerns about the social media giant’s ability to crack down on “fake news.” Indonesia had earlier blocked messaging app Telegram, and will not hesitate to shut down Facebook, the minister said. (The Sydney Morning Herald)

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