Tencent, Weibo, and Baidu investigation

Here’s what you should know:

1. Chinese regulator launches investigation against Tencent, Weibo, and Baidu

Chinese internet giants Tencent, Weibo, and Baidu are under investigation by Chinese government after reports of multiple violations.

The Cyberspace Administration of China instructed its Beijing and Guangdong branches to look into reports of content laden with “violence, porn, rumors” that swerling in the three platforms.

China has applied increasing pressure over internet media as the country prepare for Communist Party congress later this year that is expected to consolidate President Xi Jinping’s authority.

Read the full story here.

2. Logistics software Yojee raises $2.5M to grow in Asia Pacific

Singapore-based logistics software developer Yojee raises $2.5 million from undisclosed investors.

Its software enabling logistics providers to automate their business with features like real-time tracking, pickup and delivery confirmation, and more.

The company plans to fund its sales and marketing effort and further develop its technology. The company is listed on the Australian Securities Exchange.

Read the full story here.

3. Ola raises $36M to fuel its battle with Uber in India

Indian-origin cab-hailing company Ola has raised $36 million from New York-based hedge fund Tekne Capital Management.

This funding will give Ola the much-needed ammunition for its fight with Uber, which has captured a significant marketshare in the country.

It is not clear if this is a part of a larger round of funding. Report of Microsoft in talks with the company to invest between $50 million and $100 million also surfacing earlier. As well as Softbank’s plan of $300 million.

Read the full story here

Share Your Opinion