And, in order to compete with Amazon, Reliance plans to set up a new e-commerce company; Nigerian telecommunications company 9mobile has obtained AFC’s $230 million loan approval; ZTE cooperates with Indonesian Smartfren
Southeast Asia
ZTE cooperates with Indonesia Smartfren. It is learned that ZTE recently cooperated with Smartfren of Indonesia to support the Ministry of Communications of Indonesia to demonstrate the application of 5G in manufacturing to improve efficiency, ensure workplace safety and improve product accuracy and quality. In this demonstration, ZTE and Smartfren deployed a 5G network in the logistics warehouse, and connected the 360° camera and VR glasses with a 5G network to transmit images to the monitoring room in real time.
Netflix is applying for long-term licenses in Vietnam to strengthen its development in the country. According to KrASIA, Netflix has only about 300,000 users after three years of entering Vietnam due to the presence of local competitors, unregulated streaming media, and the fact that its monthly subscription fees are generally higher than other providers. Recently, Kuek Yu-Chuang, Managing Director of Netflix Asia Pacific, said in a meeting with Vietnam’s Minister of Information and Communication Nguyen Manh Hung that the company is committed to the Vietnamese market and will set up an office in the local area to handle related matters. In addition, Netflix will also consider investing in Vietnamese content.
Global Founder leads the $2 million financing of Singapore’s street brand e-commerce Novelship. According to 7:5, TechinAsia reported that with this round of financing, Novelship raised $2.3 million. It is reported that Novelship was established in 2018 to provide limited edition products of Nike, AirJordan, Yeezy and Supreme brands, and its main markets are located in the Asia Pacific region. The founder of Novelship said the company will use the funds to expand in the “high growth market” in the Asia Pacific region.
India
Indian financial technology startup Cred has completed $120 million in financing and is currently valued at $450 million. According to ET Tech, this round of financing was led by existing investors such as Sequoia Capital and Ribbit Capital, with new investors such as Tiger Global and General Catalyst. It is reported that Cred was the first financing last year.The valuation is 75 million. Cred founder Kunal Shah positioned Cred as a platform that provides customers with a variety of ways to pay for credit card bills. In addition, Shah also expressed the hope to cooperate with banks to enable banks to provide loans to lenders through the Cred platform.
Indian fresh e-commerce Freshtohome raised $20 million from the founder of ZIGExN, the Japanese media platform. According to ET Tech, the company raised $11 million in May. It is reported that Freshtohome is an online fish and meat grocer. The company said the funds raised will be used for expansion in India and overseas markets, especially in the UAE market.
In order to compete with Amazon in the retail market, Reliance Industries of India plans to set up a new e-commerce company. According to KrASIA, Reliance Retail (RR) is a retail subsidiary of Reliance Industries and the highest-income retailer in India with revenues of $18 billion in fiscal 2017. It is reported that Reliance stores inventory in more than 3,000 community retail stores to save the cost of e-commerce business. In addition, Reliance is able to offer products or services at a lower price than Amazon and its main competitor, Flipkart.
Latin America
Brazil Human Resources Management Cloud Platform Sólides raised $3.5 million in funding for business expansion. According to Contxto, Sólides aims to help its users improve the recruitment process, reduce recruitment costs, and build a strong team through AI technology. According to founder Monica Hauck, the company’s goal is to continue to achieve an average growth rate of more than 10% per month and double the existing 150-person team.
Africa
Nigeria Telecom 9mobile received approval from the African Finance Corporation (AFC) for a $230 million loan. According to IT News Africa, 9mobile aims to use loans to improve its operations and achieve its long-term goals. It is reported that AFC is a pan-African multilateral development financial institution whose goal is to minimize the gap in investment in infrastructure in Africa by providing debt and equity financing, project development, financial and technical advisory services.
Other
Drip is planning to enter the Korean market, and is not working with South Korea.Come to the five-star group to negotiate closely. According to the report of Tencent Technology, South Korea’s future five-star group said on August 26 that the company and Didi Travel are considering to establish a Korean subsidiary in cooperation next year. An executive from South Korea’s future five-star group said: “Our goal is to set up a subsidiary in South Korea in 2020 and is currently negotiating with Didi. We have almost completed the design of the mobile platform and are waiting for Didi’s trip. Final decision.”
New list of “Asian Top 500 Brands”: China, Japan and Korea are the most popular. According to the report of Chinanews.com, the latest “Asian Brand 500” released by authoritative research institutions shows that the top three countries in the brand are China, Japan and South Korea. Among the top ten brands, Japan’s Toyota Motor Co., Ltd., China’s State Grid and Industrial and Commercial Bank of China ranked second and third, followed by Haier, Honda, Tencent, Samsung, Huawei, China Life and PetroChina.
文 | 云晞@出海
编 | Zhao Xiaochun@出海
Picture | Vision China
