Date
24 May 2019

startup

  • Top reasons why startups fail

    - May 24, 2019 11:06am
    A CB Insights research report recently discussed a number of startup failures, and compiled a list of top reasons why such ventures fail. The No.1 reason for failure is misreading the market demand, as noted in...
  • HKSTP launches smart living initiative ‘InnoCell’ for IT talent

    - May 21, 2019 11:49am
    The Hong Kong Science and Technology Parks Corporation (HKSTP) on Monday began construction on InnoCell, a smart living facility aimed at nurturing a co-creation community of internet and technology talent. Slated to open by the end...
  • GoBear to launch online insurance broking and lending business

    - May 20, 2019 3:10pm
    Online platform GoBear, which allows users to search and compare various financial products in the marketplace, recently received US$80 million in fresh funding. Following the capital infusion, the company is stepping up business expansion initiatives.  Chief...
  • Chinese EV startup Xpeng jumps into ride-hailing fray

    May 17, 2019 2:30pm
    Alibaba-backed electric car maker Xpeng Motors, last valued at US$4 billion, launched a ride-hailing service in Guangzhou, even as Didi Chuxing, the ride-hailing industry leader in China, is still finding ways to make a profit. The...
  • HK startup seeks to help kids on personal finance habits

    - May 16, 2019 12:50pm
    With an aim to promote personal finance knowledge and saving habits in children, Hong Kong startup Mellow has launched a personal finance app, offering a solution for parents to teach their kids on ways manage their...
  • Turning an idea into a successful business

    - May 16, 2019 11:51am
    My motivation for starting Deliveroo was simple: I am passionate about food. Working in New York, I was used to restaurants delivering and being able to get a great selection of food at all times. When...
  • How Funding Societies is able to grow in P2P lending market

    - May 14, 2019 3:37pm
    Pioneered by US-based firms like LendingClub, the peer-to-peer (P2P) lending market has witnessed an explosive boom in China and Southeast Asia. Funding Societies, founded in 2015, targets small and medium-sized enterprises, seeking to fuel their growth through...
  • Alibaba-backed AI startup Megvii raises US$750 million

    May 9, 2019 2:26pm
    Chinese artificial intelligence (AI) provider Megvii, known for its facial recognition brand Face++, has raised US$750 million in a Series E funding round, taking its valuation to slightly over US$4 billion. The ambitious startup is preparing...
  • Ant Financial partners Israel blockchain firm for data privacy

    May 8, 2019 11:42am
    Ant Financial, Chinese e-commerce giant Alibaba’s payment and technology affiliate, has participated in a US$10 million Series A round for QEDIT, an Israeli blockchain security company. QEDIT also announced partnerships with Ant Financial, major software firm...
  • Ex-finance chief John Tsang on the frontline of innovation

    - May 6, 2019 1:45pm
    After his unsuccessful bid to become chief executive two years ago, former financial secretary John Tsang Chun-wah has moved away from politics and is now technology evangelist. He was appointed vice chairman by Hong Kong fintech-focused...
  • Tencent-backed insurer Waterdrop seeks unicorn valuation: report

    May 2, 2019 1:06pm
    Tencent-backed insurance startup Waterdrop is looking for fresh financing at a valuation of at least US$1 billion, Bloomberg reported. The disruptor insurance company will work with Tencent to develop new blockchain solutions, focusing on the emerging...
  • Paxful sees huge crypto demand in developing markets

    - Apr 29, 2019 3:11pm
    While cryptocurrencies are on the rise, their susceptibility to speculative activities and resulting price volatility have reduced their appeal to investors, particularly in the United States, Europe and China. However, some crypto startups believe that emerging markets, where...
  • Bitfinex and Tether operators sued for suspected fraud

    Apr 26, 2019 3:08pm
    New York state authorities are suing the operators of cryptocurrency exchange Bitfinex and digital currency Tether, accusing them of using illicit transactions to cover up a loss of about US$850 million in funds from clients and...
  • Beon taps van owners for mobile advertising platform

    - Apr 26, 2019 10:37am
    Looking at various vehicles on the streets in Hong Kong, an idea popped in Emma Yu Ka-lai’s head: “We see buses and trams displaying colorful advertisements for passers-by to see. How about putting ads on other...
  • Tencent invests in Argentina mobile banking startup Uala

    Apr 25, 2019 11:28am
    Chinese internet giant Tencent Holdings (00700.HK) has invested in Argentine mobile banking startup Uala, signaling its growing interest in the Latin America fintech market. Uala revealed the Tencent investment this week without disclosing the actual amount....
  • ByteDance to invest US$1 bln in India despite TikTok setback

    Apr 23, 2019 12:57pm
    China’s ByteDance, the world’s most valuable startup, plans to invest US$1 billion in India in the next three years despite facing a setback in the market in relation to the short-video app TikTok. Bytedance remains “very optimistic”...
  • Oriente’s Prentice sees vast opportunities in Southeast Asia

    - Apr 15, 2019 3:07pm
    The financial technology (fintech) industry has not even scratched the surface of opportunities across Southeast Asia, says Geoff Prentice, co-founder of Hong Kong-based micro-lending startup Oriente. In 2017, Prentice, a Skype co-founder and its former chief...
  • Crypto startup Abra to make all-in-one global investing app

    - Apr 11, 2019 2:45pm
    US-based cryptocurrency startup Abra aims to be an all-in-one global investment app, according to founder Bull Barhydt. In a recent interview with EJ Insight, Barhydt, an early Netscape employee, shared his vision for the company he...
  • Travel activities platform Klook receives SoftBank funding

    Apr 10, 2019 11:15am
    Klook, a Hong Kong-based booking platform for in-destination tourism services, has announced the completion of a Series D+ funding round worth US$225 million led by SoftBank Vision Fund. The startup said in a press statement that...
  • Western Union partners with Go-Jek’s Philippine fintech startup

    Apr 8, 2019 4:17pm
    Philippine e-wallet provider Coins.ph announced a collaboration with global remittance giant Western Union to enable Filipinos to receive international and domestic money transfers directly from the latter’s global digital network. Recently acquired by fast-growing ride-hailing unicorn Go-Jek,...

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