garena IPO

It’s a pretty busy morning today in the tech industry. Here’s what you should know.

1. Alibaba takes a big step towards offline with $2.6 billion Intime deal

Department stores have struggled in past years to cope as Chinese consumers frustrated with lackluster, poorly managed shopping malls migrate to online bazaars. Unlike in the U.S., which is dominated by a clutch of mega-chains, the Chinese retail experience is far more fragmented and inconsistent.

By teaming up with physical retailers, Alibaba hopes to pioneer a new model of online and offline retail. Jack Ma has said that he sees challenges for pure play ecommerce in the future, and this deal will allow the ecommerce giant to experiment more with the offline retail sector.

Read the rest of the story here


2. Garena picks Goldman Sachs for $1 billion IPO

Garena, Southeast Asia’s most valuable startup, picked Goldman Sachs Group Inc. to lead a planned initial public offering that could fetch about $1 billion.

“This is an extremely significant deal,” said Vishal Harnal, a partner at 500 Startups in Singapore. “Once you have a success story coming out of the region, it becomes easier for others to emulate. An IPO of this magnitude will galvanize and serve as a beacon to all the startups in Southeast Asia.”

Read the rest of the story here.


3. Ezyhaul raises $840K seed funding for Southeast Asia rollout

Uber for truck deliveries startup Ezyhaul has raised roughly $840,000 in seed funding to expand its market presence this year.

Ezyhaul now has 500 trucks on its platform and more than 45 active shippers, including DB Schenker and Ninja Van. Delivery volume is growing 80% month over month. The team wants to grow further in Malaysia and roll out in other markets like Indonesia and Thailand within the first half of the year.

Read the rest of the story here.

Share Your Opinion