Here are the top headlines you should read about today.
1. VGI Global Media PCL buys 90% stake in Rabbit Pay from BTS Group
The acquisition was for $56 million (1.95 billion baht). VGI Global Media PCL will also leverage from Rabbit’s various platforms, such as Rabbit Finance and Rabbit Daily. Read the rest of the story here.
2. Kobe Bryant has launched a $100 million LA based Venture Capital fund
Kobe Bryant invested in Alibaba Group back in 2014, and Jack Ma has opened roads for Bryant in the tech industry. Now that Bryant has launched his own fund, there will be more opportunities for further partnership. Read the rest of the story here.
3. Singapore’s iFashion Group has acquired Nose, a Malaysian fashion brand for $5 million
For iFashion, this is the latest in a string of acquisitions made by the company of late. Only last month, it acquired Dressabelle for $5.5 million. iFashion’s aim is to aggregate business across Southeast Asia via mergers and acquisitions. Read the rest of the story here.
4. Samsung, Tencent race to become Asia’s most valuable firm
Their surge – both have gained by a third this year – has made them the world’s best performing large-cap tech stocks and highlights how these nimble Asian firms are thriving while rivals Apple Inc and Alibaba have struggled. Read the rest of the story here.
5. IKEA Group tests ecommerce in China
If the trial is successful, Ikea plans to roll out its ecommerce services across China as part of its multi-channel retailing strategy. Read the rest of the story here.