Chinese internet giant Tencent suffers a rare profit drop

Tencent, Asia’s most valuable tech firm, delivered a surprise drop in profit on account of lower investment gains. The firm recorded strong growth with revenue up 30 percent year-on-year to...

Y Combinator is launching a startup program in China

U.S. accelerator Y Combinator is expanding to China after it announced the hiring of former Microsoft and Baidu executive Qi Lu who will develop a standalone startup program that runs...

Chinese Tesla rival Nio files to raise $1.8 billion in US IPO

Tesla may be looking to go private, but Chinese rival Nio is going the other way after it filed to raise $1.8 billion in an IPO on the New York...

China’s Didi beefs up its newly-independent car services business with an acquisition

A week after spinning out its driver services business and giving it $1 billion in investment capital, Didi Chuxing has added to it through an acquisition. Xiaoju Automobile Solutions (XAS), which...

WeWork China rival Ucommune raises $43.5M more at a $1.8B valuation

Barely weeks after WeWork China raised $500 million, one of its main rivals is refueling its tanks too. Ucommune — the company formerly known as UrWork until a WeWork lawsuit ...

New defense bill bans the U.S. government from using Huawei and ZTE tech

U.S. government agencies will be forbidden from using certain components or services from several Chinese tech firms, including Huawei and ZTE. The ban was signed into law today by President...

India’s budget hotel network OYO moves into wedding banquet services

OYO Rooms, the India-based budget hotel network that’s backed by SoftBank’s Vision fund, has prioritized expansion into China this year but that’s not all it’s up to. Back home in India,...

Supergiant VC rounds aren’t just raised in China

In the venture capital market, big is in. Firms are raising significant sums to finance a growing number of large startup funding rounds. In July, there were 55 venture rounds, worldwide, which...

Neat is a challenger bank for early-stage startups and SMEs

With the growth in cross-border payment services and ‘challenger’ bank cards for consumers, you’d be forgiven for wondering where the options are for small business — where cash is particularly...

Airbnb calls off Great Wall sleepover contest after backlash

Airbnb has canceled a contest that would've given winners a free one-night stay in an open-air bedroom on the Great Wall of China. Airbnb called off the event following a...

APLICATIONS

Crunch Report | Facebook Live: Scheduling and Lobby Feature

Razer acquires audiovisual icon THX, Facebook opens up a live streaming scheduling and lobby feature, London wants Uber drivers to take English tests,...