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September 9, 2017
China's fast-growing, second-largest mobile search provider, gets set to kick off a Nasdaq IPO. The subsidiary of Chinese Internet pioneer Sohu
aims to invest more in artificial intelligence and catch up with its rival Baidu
in artificial intelligence, according to CEO Wang Xiaochuan.
The IPO loops in Tencent
largest shareholder through a 2013 merger with
search business Soso and subsequent investment that raised its stake in Sogou to 40 percent. It was 12 years ago that Baidu went public on Nasdaq, when AI was not hot and neither was mobile.
Here we go again! Profit is taking a backseat to growth for the Chinese bike-sharing market, as investors pump billions into leading players
Ofo and Mobike
to fuel rapid expansion plans in overseas markets. Plus new entrants keep coming such as Hong Kong's
that just raised $9 million to take on the unicorns!
The race is on to see which one can ramp up the quickest and still survive. Lots of VC is at stake.
WeWork is acquiring Singapore's Spacemob to angle into the bustling Southeast Asian co-working market. In on the return are Vertex VC and Alpha JWC Ventures, which put in seed money of $5.5 million just last December.
See Spacemob founder Turochas "T" Fuad (above), set up the WeWork clone in 2016 and now becomes WeWork's Southeast Asia general manager.
U.S.-listed tech company
is reportedly in acquisition talks with China-based drone maker
Zero Zero Robotics
, best known for the Hover Camera drone designed for taking aerial selfies, for a deal in the range of $150 million to $200 million.
Anbang, the Chinese conglomerate whose U.S. holdings include the Waldorf Astoria hotel,
has been asked by Chinese regulators to sell its assets outside of China, per Bloomberg. But on WeChat, Anbang said it has no plans to sell.
Blue Lake Capital,
an early-stage venture capital firm in Shanghai led by former
Sequoia Capital and
execs, is seeking to raise $200 million for its second fund, investing in consumer and enterprise Internet sectors.
have partnered so that Chinese users of Baidu Wallet can now make payments to PayPal's 17 million U.S. and international merchants. This is one more e-wallet prompt for China's big-city, cash-less generation.
India and Israel are going to collaborate on startups. Maybe it's about time more investors see beyond China.
OurCrowd sees big opportunities to invest in Indian startups as founder Jon Medved (above) visits this Silicon Tiger market. In quick order, India's Reliance Group has partnered with OurCrowd to create a high-tech incubator in Jerusalem and OurCrowd is now collaborating with India's crowd-funding platform Let's Venture to fund both Israeli and Indian startups. This follows OurCrowd's first investment in India, last December, in Bangalore ride-sharing startup ZoomCar.
Taxify, an Uber-like service that operates in Europe and Africa, has raised an undisclosed amount of funding from China's expansion-oriented
Silicon Dragon winners go to Beijing to pitch!