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China Roundup: Y Combinator’s short-lived China dream

China Roundup: Y Combinator’s short-lived China dream Hello and welcome back to TechCrunch’s China Roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people in the rest of the world. Last week, we looked at how Alibaba and Tencent fared in the last quarter; the […]

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Opera’s Africa fintech startup OPay gains $120M from Chinese investors

Opera’s Africa fintech startup OPay gains 0M from Chinese investors Africa focused fintech startup OPay has raised a $120 million Series B round backed by Chinese investors. Located in Lagos and founded by consumer internet company Opera, OPay will use the funds to scale in Nigeria and expand its payments product to […]

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Hellobike, survivor of China’s bike-sharing craze, goes electric

Hellobike, survivor of China’s bike-sharing craze, goes electric Just two years ago, investors were heavily pouring money into China’s dockless bike-sharing startups. Now that boom has busted with derelict bikes littering the streets of cities. Meanwhile, a new race has started for two-wheelers with motors — and one of the main players […]

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Kurly, a grocery e-commerce startup in Korea, closes upsized $113M Series D round

Kurly, a grocery e-commerce startup in Korea, closes upsized 3M Series D round Kurly, a startup that operates a grocery delivery service in Korea, said today that it has closed an upsized Series D round that reached a total of $113 million. The company announced the round in April when it was […]

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Alibaba reportedly mulling to raise $20B through a second listing in Hong Kong

Alibaba reportedly mulling to raise B through a second listing in Hong Kong Massive news just dropped for Hong Kong’s capital markets. Alibaba, one of the world’s largest tech companies, is considering raising $20 billion through a second listing in Hong Kong, Bloomberg reported on Monday citing sources. TechCrunch has reached out […]

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China’s Source Code Capital raises $570M as it builds a powerful investor network

China’s Source Code Capital raises 0M as it builds a powerful investor network Source Code Capital, the venture capital firm that’s backed some of China’s most prominent tech unicorns and boasts a network of high-profile investors and founders, announced Monday it has closed a new $570 million fund as it continues to […]

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China’s grocery delivery battle heats up with Meituan’s entry

China’s grocery delivery battle heats up with Meituan’s entry Fast, affordable food delivery service has been life-changing for many working Chinese, but some still prefer to whip up their own meals. These people may not have the time to pick up fresh ingredients from brick-and-mortar stores, so China’s startups and large companies […]

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Meituan confirms Mobike’s retreat from most overseas markets

Meituan confirms Mobike’s retreat from most overseas markets TechCrunch reported last Friday that Mobike has scrapped operations across the Asia Pacific region as a key step towards a long-term plan to scale back its international business. On Monday, its parent company Meituan confirmed that the pioneer in China’s bike rental sector will […]

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Food delivered to the doorstep is not so cheap in China anymore

Food delivered to the doorstep is not so cheap in China anymore A big selling point of ordering food to the doorstep in China is price, which, in the early years, could be much cheaper than eating in-house. That’s arguably indulged a demographic of lazy, indoorsy eaters, but that may not last […]

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Grab moves to offer digital insurance services in Southeast Asia

Grab moves to offer digital insurance services in Southeast Asia Grab is Southeast Asia’s top ride-hailing firm, thanks in no small part to its acquisition of Uber’s local business last year, but the company also houses an ambitious fintech arm, too. That just added another vertical to its business after Grab announced […]

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