- Briefing Your roundup of Asian tech and startup news that matter
Jack Ellis · · 2 min readIn brief: SoftBank bets $1b on WeWork; Tencent pulls blockbuster game amid crackdown
Photo credit: BagoGames
Tencent takes “Monster Hunter: World” off the menu (China). The role-playing game for PCs and consoles is no longer available for download from Tencent’s WeGame marketplace, with existing users being offered a full refund. Tencent said it pulled the title just five days following its launch after receiving “numerous” complaints about the game’s content – though some observers have linked the abrupt removal with the government’s recent clampdown on supposedly inappropriate online material. (South China Morning Post)
SoftBank to plow another US$1 billion into WeWork (Japan/US). The co-working space provider said that its longtime Japanese backer will make the investment via a convertible notes purchase. SoftBank and its Vision Fund both joined a US$500 million funding round for WeWork’s China unit last month. (Bloomberg)
Other news
Bitmain reported to be eyeing bumper IPO (China). The cryptocurrency mining firm is said to be planning a Hong Kong IPO either later this year or in early 2019 that could raise as much as US$18 billion. Bitmain raised an undisclosed amount from investors including Sequoia Capital, Coatue, and Singapore’s EDBI in its series B round last month, valuing the company at around US$12 billion post-money. (CoinDesk)
Enterprise management platform Base banks seed funding (Vietnam). The investment came from 500 Startups and Vietnam Innovative Startup Accelerator. A provider of apps for human resources, sales and marketing, finance, operations, and management functions, Base said it will use the funds to hire new talent. (Base)
Editing by Eileen C. Ang
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