Toyota Motor has agreed to invest $1 billion into Southeast Asian ride-hailing company Grab. This investment is said to be the largest-ever by an automotive manufacturer in the global ride-hailing sector.
As a result of the investment, an executive of the Japanese manufacturer will be appointed to Grab’s board of directors while a Toyota team member will become an executive officer in the ride-sharing company.
With the funding, Grab aims to expand its range of online-to-offline services in Southeast Asia. The two companies will also explore new mobility strategies and expand on their existing partnership across the region.
As the competition between ofo and Mobike intensifies, Mobike has extended its deposit-free system to around 100 cities in total. By removing deposit, it could prove effective in poaching existing customers of a rival who don’t want to fork out another hefty deposit.
However, the first tier cities, such as Beijing, Shanghai, Guangzhou, and Shenzhen, will not be part of the new scheme.
At the moment, ofo’s deposit-free scheme but credit-based rental has been canceled in 20 cities, except Shanghai, Guangzhou, Shenzhen, Xiamen and Hangzhou keeping the credit-only system.
During JD’s annual Super Durian Day promotions held last month, more than 400 metric tons (MT) of durians were sold on its platform within just 24 hours. Thai media reports that more than 60% of durian is exported to other countries every year. China has become Thailand’s fastest export destination for durian.
Overall transaction volume for the fruit on JC.com grew 11-fold between 2016 and 2017, while the Ministry of Commerce estimates the Durian market in China will be worth $22.3 million.
Sea is seeking for a $400 million capital raise through the sale of notes. The firm states that the senior note offering will be put toward general costs and business expansion. It is speculated that long-time investor Tencent is expected to buy up $50 million of the notes on offer, and the offering itself could be extended by a further $60 million.
This is an exciting move because, according to TechCrunch, it reflects business growth. It also makes sense because Southeast Asia’s ecommerce scene is a big opportunity, as evidenced by Alibaba’s investment in Lazada.
India’s leading ecommerce platform Paytm Mall receives the final tranche of $445 million in funding from SoftBank and Alibaba, who joined to invest $222 million. The investment has put Paytm in a competitive position against giants like Flipkart and Amazon.
After the tranche, SB Investment Holdings has a 21.13% shareholding, Alibaba.com (Singapore) has 30.15% share, Alipay (Singapore) 15.9%, SAIF Partners 18.67% and Paytm founder Vijay Shekhar Sharma 9.66%.