A logistics technology startup based out of Hong Kong, Pickupp announces it has secured an undisclosed sum in pre-Series A round of financing, led by Alibaba Hong Kong Entrepreneurs Fund, with participation from local VC firm Spark Ventures and existing investor Axis Capital.
Currently operating in Malaysia and Singapore, will use the funds to expand into Ho Chi Minh City in early 2019. The team also aims to broaden their product offerings to better serve merchants of all sizes and needs.
Facebook is developing a stablecoin – a type of digital currency pegged to the US dollar – to allow users to transfer money on its WhatsApp messaging app, focusing first on the remittances market in India.
However, Facebook is far from releasing the coin, because it’s still working on the strategy, including a plan for custody assets, or regular currencies that would be held to protect the value of the stablecoin. Facebook has been expected to move into the financial space for sometimes since the company has hired former PayPal president David Marcus to run its Messenger app in 2014.
According to Advertising monitoring agency Adstensity, the advertisement spending of marketplace companies reached $342.57 million in 2018. Bukalapak is the biggest spender, followed by Shopee, Traveloka, and Tokopedia.
Meanwhile, the spending of retail businesses in the same period reached only $37.5 million as retailers anticipated the new shopping style through online platforms.
An American cloud-based software and a publicly traded company, Salesforce boasts that this year has been yet another good year for the company. In the opening of its new headquarter in San Francisco, the company unveils that it grew every quarter by over 24% YoY and ended up the year with $12.53 billion in revenue.
Being partnered with Google, Microsoft, Apple, and AWS, these partnerships are expected to continue bringing Salesforce the revenue.
Japan’s SoftBank is reportedly looking to pour an addition of $1 billion into Grab’s ongoing Series H round. The investment will come from SoftBank’s Vision Fund and it may round up to $5 billion, exceeding from Grab’s $3 billion expectation.
According to SoftBank, the company is looking to double down on Southeast Asia’s Grab via its Vision Fund. It will also be used to funnel other portfolio companies like Uber, Didi, Ola etc all into the same fund.