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#Asia Alibaba to facilitate cross-border e-commerce trade between Malaysia and China

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SMEs can leveraging Alibaba’s internet and data technologies for cross-border e-commerce and will get easier access to customs clearance, inspection and permit issuance

Chinese tech giant Alibaba Group today signed a memorandum of understanding (MoU) with the Malaysian government and the Hangzhou Municipal Government to facilitate cross-border e-commerce trade between the two digital hubs.

Under the MOU, the parties will join forces to explore linkages between the China (Hangzhou) Cross-Border E-Commerce Comprehensive Pilot Zone and the Digital Free Trade Zone (DFTZ) in Malaysia as pilot implementation towards building an e-road for global trade.

By leveraging Alibaba’s internet and data technologies, the parties will facilitate cooperation between public and private enterprises in Hangzhou and Malaysia to provide easier access to customs clearance, inspection and permit issuance for SMEs to do cross-border trade.

Malaysian Prime Minister Mohammed Najib Tun Abdul Razak, Che Jun (Secretary of Communist Party of China’s Zhejiang Provincial Committee), and Alibaba’s Executive Chairman Jack Ma were present at the event held in Hangzhou.

Also Read: Malaysian govt mulling plans to punish WhatsApp admins who spread fake news

“Fostering closer partnership with China is imperative to sustaining our economic growth, and e-business and commerce is clearly the future of global trade. It is therefore exciting to witness the forming of a partnership between government and reputable private enterprises, who will work together to lay the foundation for a more efficient conduct of cross-border trade in the Internet age, to the benefit of all,” said Razak.

According to Ma, “E-commerce is becoming increasingly globalised and it is transforming the way commerce is conducted. With the creation of eWTP, we and partners will build the infrastructure to empower SMEs and young entrepreneurs to succeed in this era of data technology. Today’s announcement has opened up a gateway to global success for small businesses in the two countries. It is our hope that more and more countries and SMEs around the world will benefit from a more level playing field.”

In March this year, Alibaba Group established the first overseas e-hub under eWTP with MDEC. The agreed initiatives include the establishment of an e-fulfilment hub near the Kuala Lumpur International Airport, a one-stop online cross-border trading services platform, cooperation in e-payment and financing, and the development of e-talent training that will support Malaysia’s planned transformation into a digital economy.

Alibaba has made progresses on multiple fronts since then. Alibaba Cloud will take part in the Malaysia Multimedia Super Corridor initiatives, with a planned data centre in Malaysia later this year and certification programme for local tech talents, in order to help local SMEs to succeed in the digital age through technology such as big data and Internet of Things (IoT).

Alibaba’s B2B business has launched its Malaysian SME onboarding and external trade promotion programme, as well as working with local universities to offer e-commerce training to SMEs. The group’s B2C business is also committed to helping manufacturers and merchants in Malaysia to sell their products globally.

Ant Financial expands the partnership to six local banks and financial institutions in providing e-payment, with an initial focus on inbound Chinese tourism and promoting trade by Malaysian SMEs.

Cainiao, Alibaba’s logistics affiliate; Lazada, Alibaba’s e-commerce arm in Southeast Asia; and Pos Malaysia will work together to set up an e-commerce regional distribution centre, which is expected to come into operation later this year.

Alibaba and its various business units have also entered into collaboration with local educational institutions to offer e-commerce training to develop skillsets in SMEs and individuals in support of Malaysia’s digital economy development.

Photo Credit: Alibabab

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#UK Cambridge tech startup bought by US search company

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Lucidworks Stefan

Cambridge software startup Twigkit has been bought by San Francisco search business Lucidworks to further bolster US ownership of the UK technology cluster’s IP innovators. No figures for the deal have been disclosed.

Anchored locally in CB1 and with offices in London and California, Twigkit was founded in 2009 by London School of Economics graduate Stefan Olafsson (pictured above) and Dr Bjarki Holm (below), a Cambridge Computer Laboratory graduate.

It specialises in user experiences for enterprise-grade search and big data applications and has delivered search applications for a whole raft of world leaders in diverse sectors.

Lucidworks says the acquisition is in line with its mission to deliver purpose-built user-driven data applications that give end users a single access point to aggregated search results.

The acquirer provides search tools to help access data from multiple sources. Twigkit takes mined data and delivers it in user-driven applications with a 360-degree view of an organisation at any time, on any device.

While Lucidworks has solved the first mile of making all data accessible to all users, Twigkit goes the final mile for the industry – bridging the gap from data access to application, according to Will Hayes CEO of Lucidworks.
 
Twigkit has built a global customer base that includes HSBC, General Electric, Amgen, Northrop Grumman, Toyota, the FDA, Qualcomm, the NHS, Monsanto, Rolls-Royce and Vodafone.

Olafsson and Holm will continue to drive the enterprise search space with Olafsson joining as Lucidworks’ new chief strategy officer and Holm as VP of solutions.

Before Twigkit, Olafsson held the position of principal engineer at FAST (now a Microsoft subsidiary) where he helped some of the world’s largest companies and government agencies tackle complex problems using search.

Lucidworks Bjarki
Prior to Twigkit, Bjarki Holm held a research appointment in mathematics and computer science at the University of Cambridge as well as a postdoctoral fellowship at Clare College, Cambridge. He has published many papers on algorithms and mathematical logic and was lead author of Oracle 9i Java – a textbook on enterprise software development.

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#France [Numbers] Combien d’impôts paient les géants de la Tech américaine?

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C’est Amazon qui est l’entreprise la plus taxée, avec un taux d’imposition effectif de 36,6%.

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Claire Spohr

Claire Spohr

Chargée d’études à la Rédaction at Adsvark Media / FrenchWeb – We Love Entrepreneurs

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#UK Cambridge spawns its 15th $1 billion company

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Improbable Rob Whitehead

The fertile Cambridge UK technology cluster has given birth to yet another billion dollar business – virtual reality sensation Improbable – following a $500m investment round led by ARM’s new Japanese owner SoftBank.

Improbable was last month named by Cambridge Computer Laboratory svengali Andy Hopper as the Lab Ring’s company of the year; it was already in the Lab’s 257-strong Hall of Fame.

Improbable, headquartered in London and San Francisco, was founded by Cambridge computer science alumni Herman Narula (CEO) and Rob Whitehead (CTO) in 2012.

Their SpatialOS operating system is transforming capabilities across sectors as diverse as game development, smart city design, including transport networks, telecoms and monitoring of autonomous vehicles.

As explained by multiple tech specialists online, the platform enables third parties such as games developers and civil engineers and architects to build virtual worlds on a massive scale.

The company plans to use the proceeds of the funding round to develop its platform and accelerate recruitment on both sides of the Atlantic. It has already grown to almost 200 people in just under five years.

It is the 15th billion dollar business spawned  in Cambridge from home-rooted IP.

SoftBank and Middle East partners are intent on raising a mammoth £100bn IoT fund to invest in global game-changers in the space; Cambridge-based chip architect ARM – sold to SoftBank for $31 bn last year – is central to the development of the Internet of Things through its planet-wide ecosystem of integral partners.

SoftBank recently sold a 25 per cent stake in ARM and this investment could be part of the reason for that previously unexplained move. While not a record, the investment in Improbable is one of the largest European technology rounds of all time. Series A investors Andreessen Horowitz and Horizons Ventures also participated.

The Cambridge Computer Lab Ring accolade has been won in the past by great companies such as Raspberry Pi, SwiftKey (sold to Microsoft) and Deepmind Technologies (sold to Google).

Improbable says it maintains a close connection to the University of Cambridge with many staff who are alumni, including the co-founders.
 
“I always remember seeing the wall of fame on my way into lectures at the Computer Lab as an undergraduate,” said CTO Whitehead. “It’s going to be a proud moment to see us up there on our next visit.”

The award was presented at an event in the Old Hall at Queens’ College, Cambridge by celebrated dontrepreneur Professor Andy Hopper and by computing pioneer Dame Stephanie Shirley.

• PHOTOGRAPH SHOWS: Improbable’s CTO and co-founder Rob Whitehead. Image courtesy – Improbable

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Posted in #UK

#France A 203 millions d’euros, Rakuten a doublé son résultat net au 1er trimestre

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Le géant japonais a également amélioré sa rentabilité, avec un bénéfice qui représente 12% de son chiffre d’affaires.

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Claire Spohr

Claire Spohr

Chargée d’études à la Rédaction at Adsvark Media / FrenchWeb – We Love Entrepreneurs

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#Africa 500 Startups closes $15m MENA fund

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US-based accelerator 500 Startups has announced the first close of a US$15 million fund dedicated to Middle East and North Africa (MENA) based startups, to be known as 500 Falcons.

While 500 Startups has previously concluded 55 deals in the MENA region to the tune of US$6 million, 500 Falcons aims to raise a total of US$30 million dedicated entirely to investing in MENA-based early-stage startups, or startups targeting MENA.  The first close is at half the target amount, at US$15 million.

500 Falcons is set to invest in approximately 100-150 companies with about half of the fund, while the other half will be reserved for follow-on investment in the top 20 per cent of companies.

The organisation said the dedicated fund was prompted by the fact that the MENA region has a growing young population eager to pull the region from lingering political and economic uncertainty.

“The Middle East and North Africa are among the last large regional ecosystems to rise up, and emerging markets tend to leapfrog adoption of innovations and technology at higher and higher frequencies. Being a latecomer does not mean staying behind, and the Arabic speaking world is 500 million strong – young, resourceful, wealthy and a yearning to thrive,” said Hasan Haider, venture partner at 500 Startups.

500 Startups venture partner Sharif El-Badawi has been confirmed as partner for 500 Falcons; while recruitment for further team members is currently on-going.

Investors participating in the first close include the Qatar Science and Technology Park (QSTP) and the Oman Investment Fund.

With the help of QSTP, 500 Startups will also bring its Series A programme to the MENA region by hosting an annual “Doha Dojo”, bringing together the top Series A level MENA startups to Doha with some of the world’s best growth hackers to help build a growth mindset and support them in their growth.

“I look forward to 500 Startups playing a significant role in building ecosystems across the MENA region, and investing in the best founders solving real problems. I hope that our deal volume and speed will provide at least a small boost in funding activity at the earliest stages and even encourage others to do more deals as well,” Haider said.

“Here’s to building world class startups from the Middle East, creating jobs, solving real problems, empowering the youth, women and anyone who wants to effect real change to better their surroundings, and generating a positive return on capital while we’re at it!”

The post 500 Startups closes $15m MENA fund appeared first on Disrupt Africa.

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#France Microsoft ouvre la porte à Apple et à iTunes sur Windows Store

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L’application qui permet de synchroniser son iPhone et son iPad sera accessible sur le store de Microsoft.

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Jeanne Dussueil

Jeanne Dussueil

Journaliste at Adsvark Media / FrenchWeb – We Love Entrepreneurs

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#Asia [Exclusive] Due diligence started in impending Flipkart-Snapdeal merger; SoftBank may invest up to US$1B in new entity

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Although the deal is on course, Flipkart and Snapdeal are yet to resolve the differences about the employee stock options (ESOPs)

Struggling Indian e-commerce company Snapdeal is one step closer to signing a “distress sale” deal with Flipkart, with the former receiving terms sheet, a highly-placed source told e27. The due diligence has started, and SoftBank-backed Snapdeal has already sent the records (skill-set and job descriptions) of its key employees which it wants to retain post-acquisition to Flipkart, the person added.

The potential deal size is pegged at US$1 billion — a considerable drop from Snapdeal’s peak valuation of US$6.5 billion at the time of raising funding early last year.

Flipkart’s mobile payments unit FreeCharge, which it had acquired for nearly US$400 million in 2015, will be sold separately at 10 per cent of its then-valuation. As per an Economic Times report, Alibaba-funded m-commerce and digital payments major Paytm has already signed a non-exclusive term sheet to acquire FreeCharge, which is its rival.

Snapdeal co-founders Rohit Bansal and Kunal Bahl will not join the combined entity post the deal, the person revealed. “All investors of Snapdeal are now on board with the decision, and their differences have been sorted out. As part of the deal, SoftBank is likely to inject up to US$1 billion in the combined entity. That said, it could still take months before the deal is sealed,” said the person cited above.

Although the deal is on course, Flipkart and Snapdeal are yet to resolve the differences about the employee stock options (ESOPs). The ESOPs will be settled by founders in their personal capacity, presumably as part of the due diligence, the person noted.

The source further shared that Snapdeal has already fired a significant number of its 2,800 employees, and has closed offices in several cities. The functioning of the product team has almost stopped and the business unit is now taking care of product development.

“Failure within the organisation happened on multiple fronts, including within the technology and product leadership with no real clear differentiation strategy. The company kept burning cash hoping to continue to raise funds and for some other various other reasons that are not clear. Eventually, the investors lost trust in the leadership and knowingly grounded the firm. Most of the company’s efforts to save the ship failed, with the demonetisation being the final nail in the coffin which led to a stagnant or a lower order volume for Snapdeal.”

An email sent to Snapdeal’s Co-founder Kunal Bahl seeking comments did not elicit a response till the time of publishing this article.

When contacted, Paroma Roy Chowdhury, Vice President (Public Affairs) at SoftBank Group, declined to comment.

Founded in February 2010, Snapdeal was the second biggest e-commerce company after Flipkart until 2015. The company began to crash after the entry of Amazon, which ate into its market share to become a formidable force in the Indian e-commerce market. Over the past two years, Snapdeal kept losing market share to both Amazon and Flipkart, despite having invested significantly in branding and marketing.

To date, Snapdeal has raised about US$2 billion in investment, which included a US$627 million from SoftBank in 2014. Its other investors include Kalaari Capital, Nexus Venture Partners, BlackRock, Temasek, Foxconn, eBay, Premji Invest, Intel Capital, Bessemer Venture Partners, and Ratan Tata. Recently, eBay invested nearly US$500 million in Flipkart and sold its Indian unit to the Bangalore-based company.

Although it can be called a distress sale at best, Snapdeal is bringing some value to Flipkart. According to the source cited above, Snapdeal is still a formidable force in the north and north-east e-commerce market. The Snapdeal acquisition will help Flipkart to strengthen this market and take Amazon head on.

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#Asia Thai classifieds platform Kaidee launches new car marketplace, in response to high growth

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Kaidee claims that there are over 70,000 cars on sale on its platform today

Kaidee

Tiwa York, Chief Executive Officer/Head Coach of Kaidee

Thai online classifieds platform Kaidee has launched a new and improved dedicated car marketplace called RodKaidee.

The channel will be monitored by Kaidee customer representatives, who will answer enquiries via phone calls or text messages. Users will be able to search for cars via their make, car type, model, year, and engine type, and price range. RodKaidee will be available on desktop and mobile.

Currently, there are already over 70,000 cars on sale in at Kaidee. According to an official press release, over 16,000 cars are sold on the marketplace per month, at a total average value of THB 4 million (US$115,000).

Also Read: Tencent bets on online flea market with US$200M investment in Zhuan Zhuan

“RodKaidee aims to become the best marketplace for vehicles in Thailand as we plan to add more services including auto parts, motorcycle, etc. RodKaidee will be everyone’s one-stop-online-shop for everything automotive,” said Tiwa York, Chief Executive Officer/Head Coach of Kaidee.

Last year, York told the Bangkok Post that he aims to increase Kaidee’s sellers to two million. In 2015, the platform logged an average of 650,000 visitors per month. A total of 8.6 million listings were posted in the whole of 2015.

Kaidee hawks a range of wares including smartphones, amulets, vehicles, and even properties. In 2015, the highest-valued item sold on Kaidee was a piece of land worth THB 14 million (US$430,000).

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Image Credit: Kaidee

 

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