As well, Boomplay’s Boomplay and Sony Music reached a strategic partnership; PayPal entered the e-commerce: $4 billion acquisition of Honey; “Singapore version of the free fish” Carousell will merge with the online trading platform 701Search, the company’s valuation will exceed 850 million Dollar.

Southeast Asia

“Singapore version of the free fish” Carousell will merge with the online trading platform 701Search, the combined company valuation will exceed $ 850 million. According to Bloomberg, 701Search is part of the telecom giant Telenor Group and has operations in Malaysia, Vietnam and Myanmar. The transaction will be in the form of cash plus stock. As part of the transaction, Telenor will also invest $20 million in Carousell and a 32% shareholding in the merger, making it the minority shareholder with the highest shareholding. Founded in 2012, Carousell is currently valued at more than $550 million. After the transaction, the business will expand to Singapore, Malaysia, Indonesia, the Philippines, Myanmar, Vietnam and other countries.

“Indonesia version of Ruixing Coffee” Fore Coffee and budget hotel Airy, plans to open another 1,000 stores. According to KrASIA, the company is preparing to open its stores in Airy’s hotels. According to the Indonesian Ministry of Trade, Indonesia is the fourth largest coffee producer in the world after Brazil, Vietnam and Colombia.

Gojek wants to split its financial services department Go-Finance and rename it Digital Katalis (Dkatalis). According to DealStreetAsia, Dkatalis is hiring employees and Go-Finance employees will join. According to documents submitted by the company to the Accounting and Corporate Regulatory Authority of Singapore (ACRA), the company’s shareholders currently include Singapore’s financial technology companies Neuroncredit, Freemantle Capital, and Jetway Wealth Management Limited.

India

India Online Travel Platform (OTP) HappyEasyGo announced the completion of tens of millions of dollars in B+ round financing. The sea was informed that the participating investors include Samsung, UOB Venture and ZIGExN, the “Japanese version 58 city”, which is invested by the investment capital as financial advisor. This round of funds will be used for the continuous growth of air ticket business and hotel business development.

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Zomato denies the merger with Swiggy. According to KrASIA, in the latest report of the Indian news website Firstpost, sources said that Swiggy and Zomato’s main investors have merged in preliminary negotiations in recent weeks. It is reported that Swiggy’s investors include Tencent, Naspers and Accel, while Zomato has the support of Infoedge, Ant Financial and Sequoia Capital. It is estimated that the two companies will have a 70% market share after the merger.

Uber launched the driver incentive program Uber Plus in 13 cities in India. According to YourStory, the program was previously piloted in Delhi-NCR, Chandigarh and Mumbai. Drivers can earn points from the program for preferential treatment and relief for medical consultation, vehicle maintenance, education, and microfinance.

PayPal enters e-commerce: $4 billion to acquire Honey. According to the report of Tencent Technology, on November 20th, PayPal announced that the company has agreed to acquire Honey for $4 billion. Honey is a service provider looking for the most affordable online shopping products on the web for consumers. The acquisition is the largest acquisition of PayPal to date, and PayPal’s goal is to add Honey’s technology to its product line and extend its reach to PayPal’s 300 million network payment users.

Middle East

Bahrain Salaam Bank and China and Yu Capital jointly established a $50 million MEC Venture Capital Fund. It was learned that on November 20, Bahrain Salam Bank and China and Yu Capital jointly announced the establishment of a $50 million MEC venture capital fund. The MEC Fund will be the first venture capital fund to be funded and managed by the private capital of China and the Middle East technology market. It will promote the exchange and cooperation of scientific and technological achievements between China and the Middle East and North Africa, and use capital to transform and apply Chinese technology practices. The investment of MEC funds will cover many fields such as e-commerce and financial technology, and cover big data and labor.Key technologies such as intelligence, cloud computing, and logistics.

Africa

African e-commerce platform Jumia has suspended its operations in Cameroon. According to Reuters, Jumia’s share price hit a record low of $4.96. According to sources, Jumia entered Cameroon for market share growth, but the business was not profitable. Cameroon is one of the largest economies in Central Africa.

Latin America

Mexico Mobile Payments Clip has partnered with Visa. According to Contxto, this is the first collaboration between Visa and Fintech in Mexico. In the future, it will help Clip to apply its point of sale (POS) to devices such as tablets, and Clip will use its local network to expand Visa. The share of cards in the Mexican market.

Other

Venture Capital and Accelerator Y Combinator will stop operations in China. It was learned that the YC China brand, which was established in August 2018, will be discontinued, and founder Lu Qi has set up a new fund MiraclePlus to replace YC China. In this regard, Lu Qi said that YC’s new leadership has made a strategic adjustment and will return all YC global entrepreneurial camp activities to focus on US operations.

Mo Mo restarts his overseas strategy and launches a strange social product Olaa. It was learned that Momo has already launched a stranger dating app called Olaa overseas. Although Olaa’s development body is shown as Olaa Team, people familiar with the matter told Ola from the international project team of Momo. In the third quarter of this year, Momo established the project team, which is currently about a dozen people. Olaa is primarily aimed at the Southeast Asian market. Currently, Olaa is only logged into Google Play and is expected to launch the App Store by the end of November.

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