And, Kaspersky Bank and wealth management platform Lu International cooperated to launch an online wealth management platform FinVest; the Indian government plans to amend the Information Technology Act to regulate the use of user data on OTT platforms; South Korean game developer PUBG announced its return to India and plans to invest 1 Billion dollars to revitalize the Indian market.
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Globalization of Chinese Enterprises
Huanju Group responded to the Muddy Waters report, saying that it can provide cross-checking of domestic and overseas cash balances and statements. According to Sina Finance and Economics, on the evening of November 19, Huanju Group issued an announcement in response to the short-selling agency Muddy Waters questioning the authenticity of its business data. The announcement stated that the company can provide cash balances and bank deposit statements at home and abroad, and ask an authoritative third party to investigate. Baidu previously announced the wholly-owned acquisition of the domestic live broadcast business of Huanju Group, and then Muddy Waters issued a report saying Huanju Group’s domestic and overseas business There were serious data frauds, causing Huanju Group’s U.S. stocks to plummet 26% after the market.
Kasikorn Bank and wealth management platform Lu International have launched an online wealth management platform FinVest. According to eefocus reports, Kasikorn Bank, Thailand’s second largest commercial bank, has partnered with Singapore’s wealth management platform Lu International to launch FinVest, an online wealth management platform for retail investors in Thailand. Lu International for ChinaLufax is a member of the holding company, registered in Singapore in 2017. At present, FinVest offers more than 600 wealth management products from 15 asset management companies in Thailand.
Singapore advertising company Near acquired French user data startup Teemo. According to TechCrunch reports, Singaporean advertising technology company Near recently announced that it has acquired user data startup Teemo to expand its business to Europe. Near was established in 2012, using big data technology to implement “precise advertising” business. It is reported that Teemo has a large amount of European consumer data, which will become an important asset for Near to enter the European market. In 2018, the French government issued a warning to Teemo for allegedly using personal data in violation of regulations.
Blue Planet, a Singaporean environmental technology start-up, has raised US$10 million in financing. According to a DealstreetAsia report, Blue Planet, an environmental technology company, recently announced that it has received US$10 million in financing from Sysma Holdings Limited. In March of this year, it just completed a US$30 million financing. Blue Planet was established in 2017 and its business covers Singapore, Vietnam, India, and the United Kingdom. It is reported that this investment will be invested in the research and development of waste recycling technology.
The Indian government plans to amend the Information Technology Act to regulate the use of user data by OTT platforms. According to Inc 42 reports, in order to regulate more and more online websites and OTT platforms, the Indian government plans to amend the Information Technology Act of 2000. OTT platforms include news sites and streaming services such as Hotstar, Netflix and Amazon Prime Video. It is reported that this move aims to regulate the collection and use of user data by these platforms to ensure a level playing field.
South Korean game developer PUBG announces its return to India, plans to invest100 million US dollars to revitalize the Indian market. According to TechCrunch, PUBG Corporation, the game developer of PlayerUnknown’s Battlegrounds, recently announced that it will return to India and is preparing to launch a mobile game “PUBG Mobile India” specially developed for the Indian market. In September, the Indian government banned the game for threatening national security. Earlier this month, PUBG announced that it had shut down game servers operated by China’s Tencent, thus regaining the distribution rights of its games in the Indian market.
Fenix, a travel technology start-up company, has received $3.8 million in seed round financing, setting a new record for UAE start-ups in seed round financing. According to menabytes reports, Fenix, a travel technology startup in the United Arab Emirates, has completed a seed round of $3.8 million, led by Israeli venture capital Maniv Mobility. This financing is one of the largest seed round investments in the history of UAE startups, and it is also the first investment of Israeli venture capital in the UAE. It is reported that the UAE and Israel resumed normal diplomatic relations earlier this year, and companies in both markets are seeking new and feasible cooperation.
K Health, an Israeli online medical start-up, received US$42 million in Series D financing. According to KrASIA, K Health, an Internet medical start-up, has recently completed a $42 million Series D financing and announced a cooperation with Mayo Clinic, a private non-profit medical institution in the United States. K Health was founded in 2016 and uses artificial intelligence technology to provide online diagnostic services. The platform has an independent database, including medical records, laboratory test results, diagnosis and treatment plans, user medical history, etc. After the outbreak, more than 1 million people have used K Health to seek medical services.
The Japanese integrated financial services group ORIX invested US$60 million in Israeli venture capital OurCrowd. According to a DealstreetAsia report, on November 19, the Japanese diversified financial group ORIX invested US$60 million in Israeli venture capital OurCrowd. This is also ORIX’s first cooperation with an Israeli start-up. In recent years, the volume of trade between Japan and Israel has increased significantly. Japan has become one of the largest investors in Israeli technology companies. There are currently more than 90 Japanese companies active in Israel.
Europe and America
Nasdaq will acquire Verafin, an anti-financial crime company, for US$2.75 billion. According to the “Wall Street Journal” report, Nasdaq of the United States announced on Thursday that it would acquire Verafin, an anti-financial crime software company, for US$2.75 billion in cash, intending to use high technology to combat the increasingly rampant financial crimes. Verafin was founded in 2003. Its software can identify and investigate financial fraud. It currently provides services to more than 2,000 North American financial institutions. It is reported that the sale still needs regulatory approval and is expected to be completed in early 2021.
The virtual performance service provider Wave and Tencent Music have reached a partnership and received equity investment from Tencent. According to Interface News reported that on November 19, Tencent Music announced that it would cooperate with the American virtual performance service provider Wave Reach strategic cooperation and invest in it in the form of equity. It is reported that the content of the cooperation between the two parties mainly includes the exclusive broadcast rights of Wave Show in China and the cooperative development of virtual concerts. Wave is headquartered in Los Angeles and has held virtual concerts for a number of well-known musicians in the United States. After the outbreak of the epidemic, it quickly expanded the company’s scale and completed a $30 million Series B financing in June this year.
Duolingo, an American online education technology company, completed a $35 million H round of financing. According to Edsurge reports, Duolingo, a global online language education company, announced the completion of a US$35 million H round of financing, with a post-investment valuation of US$2.4 billion. Duolingo was founded in 2011 and is headquartered in Pennsylvania. It mainly provides language learning courses and English assessment services. Currently, there are 39 language learning courses provided, including English, Japanese, Korean, French and other popular languages, as well as Welsh, Nasdaq Small languages and endangered languages such as Waho. Its learning content is free and open, and it makes money through advertising and membership services. It entered the Chinese market in 2019, and China is now one of Duolingo’s fastest-growing international markets. It is reported that this round of financing will be used to continue to develop language learning products and accelerate team expansion.
Norway’s largest airline, Norwegian Airlines, filed for bankruptcy protection for its two core subsidiaries. According to the Wall Street Journal, Norway’s largest and Nordic’s second largest airline has filed for five months of bankruptcy protection for its two core subsidiaries. The company is the European airline that has suffered the most since the epidemic. Affected by the epidemic, airlines in many countries have encountered operational difficulties. Norwegian Airlines has adopted a radical strategy to accelerate expansion, which has led to high debts and more difficult to sustain during the epidemic. Since the beginning of this year, Norwegian Air’s market value has evaporated by more than 98%.
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