Mon, May 21, 2012, 12:36 PM SGT - Singapore Markets close in 4 hrs 24 mins

Financial News from Penn Olson

  • Wodache Lets You Carpool Easily in Beijing Tech in Asia - 2 minutes 21 seconds ago

    From Wikipedia : “Carpooling (also known as car-sharing, ride-sharing, lift-sharing and covoiturage), is the sharing of car journeys so that more than one person travels in a car.”Wodache (loose translation ...

  • March of the Cheap Smartphones: Details on Qihoo 360's … Tech in Asia - 2 minutes 27 seconds ago

    Recently, we've seen news of cheap smartphones coming from a lot of Chinese internet companies, including Baidu , Netease , and Shanda . We knew already that Qihoo 360 was also throwing its hat into this ...

  • Bangkok-based gaming company Sandbox Global is in the process of launching an English language version of their Facebook fashion game Stylista for markets in Singapore, Malaysia, and the Philippines.The ...

  • Yahoo and Alibaba Reach Stake Repurchase Deal, Yahoo … Tech in Asia - 2 minutes 39 seconds ago

    Yahoo (NASDAQ:YHOO), which currently owns 41.7 percent of Chinese e-commerce giant Alibaba Group, has come to a formal agreement with Alibaba to allow it to buy back 20 percent of that stake. With Alibaba ...

  • While most of the world was busy watching the $16 billion Facebook IPO, there was plenty of other action in China - mainly relating to new smartphones, a new version of a wildly popular game, and pondering ...

  • In the last seven days, we have covered a couple of startups on Tech in Asia, specifically from China, India, Hong Kong, and Singapore.For folks who are interested in investing or partnering with these ...

  • Startup Communities in Indonesia [#StartupAsia Pre … Tech in Asia - Sat, May 19, 2012 6:00 AM SGT

    A tech ecosystem usually consists of startup founders, angel investors, VCs, government, universities, media, and communities. What often happens is that most people focus only on the entrepreneurs and ...

  • Hello Investors: Free Facebook Shares if You Open An … Tech in Asia - Sat, May 19, 2012 5:08 AM SGT

    Facebook has gone public today (as NASDAQ:FB), and Hong Kong-based financial trading startup, 8Securities (who just announced $1.5 million of additional funding this morning), is offering something of ...

  • Japanese Web Service Helps us Identify First Signs … Tech in Asia - Sat, May 19, 2012 1:30 AM SGT

    It's a stressful world we live in. A report indicated that one in every fifteen people is depressed in Japan [1] . Perhaps you have noticed a friend or a colleague showing signs of depression? Maybe it ...

  • China Mobile Has 15.6 Million Users in Pakistan Tech in Asia - Sat, May 19, 2012 12:30 AM SGT

    I'm going to be honest -- I didn't even know China Mobile operated in Pakistan (we don't cover central Asia too often). But it does -- via a subsidiary company branded "Zong" -- and apparently ...

  • After a Record Quarter, China's Tencent Reorganizes … Tech in Asia - Fri, May 18, 2012 10:00 PM SGT

    There’s been talk of this happening for a few days now, but we finally received official word from Tencent (HKG:0700) today to confirm that it will be reorganizing its business into six business groups. ...

  • Netease Working on Cheap Android Smartphone Tech in Asia - Fri, May 18, 2012 9:00 PM SGT

    Perhaps inspired by Xiaomi , it seems everyone is looking to make a low-cost Android-based smartphone for the China market these days. Netease is apparently the latest company to throw its hat into the ...

  • Facebook's Prospects in Asia Tech in Asia - Fri, May 18, 2012 8:00 PM SGT

    Benjamin Joffe @benjaminjoffe is the CEO of the Asia-based digital research & strategy firm +8* (Plus Eight Star), a speaker in 100+ conferences including TEDx, SXSW, LeWeb and Stanford GSB. He is also ...

  • Managing and Investing with China's Ancient I-Chin … Tech in Asia - Fri, May 18, 2012 7:15 PM SGT

    Have you ever thought that an ancient Chinese text would be the key to investment success, or the tool that could help save your next startup? No? Well, I'd say you're probably right, but Julio Urvina ...

  • Who Wants to Play? Survey Says Japan Luke Warm to Nintendo … Tech in Asia - Fri, May 18, 2012 6:18 PM SGT

    We recently wrote that Nintendo (TYO:7974) reported its first loss in 30 years with sales of its major consoles struggling. Sony (NYSE:SNE) is having troubles too with its new PS Vita continuing to be ...

  • After $8 Million Round, 8Securities Raises Additional … Tech in Asia - Fri, May 18, 2012 5:08 PM SGT

    Hong Kong-based financial trading and dashboard startup, 8Securities, has just informed us of a $1.5 million round of investment from Velocity Capital B.V. and Full Global. Both investors also led the ...

  • Bangkok Overtakes Jakarta as World's Top City on F … Tech in Asia - Fri, May 18, 2012 6:30 AM SGT

    Thanks to our Thailand contributor Byron for the tip-off that we now have a new number one city on Facebook. Bangkok , Thailand has overtaken Jakarta , Indonesia as the social network’s top city, with ...

  • Are You a News Geek? Apply for JMSC's Data Journalism … Tech in Asia - Fri, May 18, 2012 5:30 AM SGT

    I was a little surprised recently to find that the Journalism and Media Studies Center at the University of Hong Kong is offering Data Journalism Scholarships, funded by none other than Google . I’m a ...

  • MIIT: China Has 152 Million 3G Users Tech in Asia - Fri, May 18, 2012 5:00 AM SGT

    Despite all the discussion about 4G , 3G usage has been growing fast in China as smartphones become more prevalent. This morning, Ministry of Industry and Information Technology vice minister Shang Bing ...

  • Showing The Middle Finger to Paper Qualifications Tech in Asia - Fri, May 18, 2012 4:08 AM SGT

    So my friend Derrick Ko pointed me to this post telling of a student who interned at a US-based startup. The student was offered to extend his job role at a pretty hot company (no names mentioned though) ...

  • PayPal Introduces ‘PayPal Mobile Payments Standard’ … Tech in Asia - Fri, May 18, 2012 3:18 AM SGT

    According to statistics released from PayPal Online and Mobile Shopping Insights 2011, mobile shopping here in Singapore is expected to increase from S$328 million (US$259 million) in 2011 to a whopping ...

  • Traveling Translator App Hits Over 5 Million Downl … Tech in Asia - Fri, May 18, 2012 1:31 AM SGT

    Chinese-based startup Mafengwo is a website that provides content on all things travel-related. Aside from the website, one of the products that it has developed is Traveling Translator. The app serves ...

  • Get things done for just 5 dollars with 'Vites' Tech in Asia - Fri, May 18, 2012 12:30 AM SGT

    Vites is TaskRabbit made a little more simple. It matches people with talent and/or time, to those who need to get things done. Vites was released in both Japanese and Korean a little over week ago.  Wishscope ...

  • North Korean Government Launches Slick New Website Tech in Asia - Thu, May 17, 2012 10:00 PM SGT

    All hail Kim Jong Un? Perhaps it's the result of the country's young new leader, or perhaps this was part of the plan all along, but the Democratic People's Republic of Korea -- a.k.a. North Korea -- has ...

  • Rakuten to be Lead investor in Pinterest's Next Funding … Tech in Asia - Thu, May 17, 2012 8:39 PM SGT

    All Things Digital is reporting today that it expects that Japanese e-commerce giant Rakuten (JSD:4755) will be the lead investor in Pinterest’s next round of funding, which is expected to be announced ...

  • China's Satellite Navigation System to Serve Asia-Pacific, … Tech in Asia - Thu, May 17, 2012 7:00 PM SGT

    Without GPS technology, we would all be lost -- increasingly, that's a literal truth. China's "Big Dipper" GPS satellite system has of course been in operation for a little while already, but ...

  • Inside the Minds of International Investors in Indonesia … Tech in Asia - Thu, May 17, 2012 6:20 PM SGT

    When statistics for the number of Facebook users back in 2010 revealed that Indonesia was the second largest Facebook nation, it took many people by surprise. But beyond that statistical evidence of its ...

  • Are Asian Consumers in Emerging Markets Waiting for … Tech in Asia - Thu, May 17, 2012 5:18 PM SGT

    A new report from Gartner claims that because of decreased demand from Asia, worldwide sales of mobile phones dropped two percent in the first quarter of 2012 on the same time the previous year. The overall ...

  • Leading By Example Tech in Asia - Thu, May 17, 2012 6:40 AM SGT

    In Bandung, Indonesia I recently had a few opportunities to share my journey as an entrepreneur. Now note that I’m far from the term “successful.” But I believe I do know a thing or two about starting ...

  • China Mobile CEO on 4G Plans: Not Going to Engage in … Tech in Asia - Thu, May 17, 2012 5:30 AM SGT

    China Mobile CEO Li Yue announced in a shareholders meeting that China Mobile will not be engaging in price war when it comes to introducing 4G network services, and aims to pilot test them in up to 10 ...

  • Chinese Vacation Home Rental Service Tujia Receives … Tech in Asia - Thu, May 17, 2012 4:35 AM SGT

    Readers may recall back in January when we looked at Chinese startup Tujia , a vacation home rental service which offers hotel-like online booking for your home if you’re on holiday. And now this evening ...

  • Docomo Rolls Out New Phone Lineup, Heralds New 'Docomo … Tech in Asia - Thu, May 17, 2012 1:35 AM SGT

    After KDDI (TYO:9433) rolled out its new summer smartphone lineup yesterday, rival carrier NTT Docomo unveiled its own repertoire of handsets today. The entire lineup includes 16 smartphones, all of which ...

  • Kaifu Lee: Why Most Internet Companies Fail at Mob … Tech in Asia - Wed, May 16, 2012 11:45 PM SGT

    At first glance, it might seem that PC internet and mobile internet endeavors are similar enough that they'd be almost interchangable. Not so, says Kaifu Lee , who I'm pretty sure I don't need to even ...

  • Online Travel Grows in China: An Interview with Tuniu … Tech in Asia - Wed, May 16, 2012 10:00 PM SGT

    In the West, online travel has long since eclipsed the brick-and-mortar industry, but in China, real-world travel agencies are very much alive. Travel patterns are also very different here; Chinese tourists ...

  • Food Safety Site "Throw it Out the Window" Gets Government … Tech in Asia - Wed, May 16, 2012 8:00 PM SGT

    Last week, we wrote about Throw it Out the Window , the food-safety platform built by a Chinese college student that's been garnering a lot of attention and momentum of late. In the week since then, China ...

  • Dolphin Browser Strikes Deal to be Pre-installed on … Tech in Asia - Wed, May 16, 2012 7:00 PM SGT

    MoboTap, the makers of the popular Dolphin Browser for iOS and Android, has announced a partnership with Japanese carrier KDDI (TYO:9433) in which Dolphin will be pre-loaded on future Android phones. KDDI ...

  • Expanding Abroad: Risky, Scary, and Exciting Tech in Asia - Wed, May 16, 2012 5:08 PM SGT

    Even though our core team is made up of five different nationalities all across Asia, Tech in Asia is still legally a Singapore-based startup. Singapore is small and it seems like a mandate that all local ...

  • CrowdStar Continues Mobile Gaming Push, with Top Girl … Tech in Asia - Wed, May 16, 2012 8:01 AM SGT

    Readers may recall a couple of weeks back that we reported about social game developer CrowdStar , and its partnership to bring its Top Girl franchise to the GREE platform. And today there's more news ...

  • Sina Weibo Breaks 300 Million Registered Users, Mobile … Tech in Asia - Wed, May 16, 2012 6:00 AM SGT

    Today, Sina published some new statistics about its microblogging service, Sina Weibo . Turns out, the inevitable has happened: the service has broken 300 million users. Yes, we all knew that announcement ...

  • Wolianxi App Helps you Organize Outings Fast Tech in Asia - Wed, May 16, 2012 5:00 AM SGT

    Wolianxi (loose translation: connect me) reminds me of Found , which is also an app that tries help users organize meet ups quickly. But Wolianxi is much more straightforward. The Chinese app follows common ...

  • Indonesia’s Fimela Adds E-commerce to its Services … Tech in Asia - Wed, May 16, 2012 2:00 AM SGT

    Launched in December 2010, Fimela.com is a web portal dedicated solely to Indonesia’s modern, tech-savvy, and mobile women who want a combo of news, fashion, and family tips. The services has launched ...

  • Baidu Unveils Low Cost Smartphone with Voice Recognition … Tech in Asia - Wed, May 16, 2012 12:00 AM SGT

    There’s an interesting battle taking shape in China , as a number of companies are setting their sights on the nation’s entry-level smartphone market. Over the past few days along we’ve seen Samsung put ...

  • Localizing Plants vs Zombies for China, and PopCap's … Tech in Asia - Tue, May 15, 2012 10:00 PM SGT

    Yesterday we told you about how PopCap is soon launching the Great Wall and Kingdoms editions of Plants vs. Zombies in China. This news from the Global Mobile Internet Conference 2012 was then followed ...

  • Mixi Denies Nikkei Report that CEO Wants to Sell 55% … Tech in Asia - Tue, May 15, 2012 9:08 PM SGT

    There’s much discussion going on today about a Nikkei Business Daily report that says Mixi’s founder and CEO, Kenji Kasahara, is considering selling his 55 percent stake in the company. Mixi (TYO:2121) ...

  • Multiply Officially Moved to Indonesia, Announced new … Tech in Asia - Tue, May 15, 2012 8:00 PM SGT

    Multiply has officially announced that it has moved its corporate headquarters from Florida to Jakarta after first confirming the move back in January. At the same time, Multiply also replaced Peter Pezaris ...

  • GREE's Zombie Jombie Surpasses 1 Million Downloads Tech in Asia - Tue, May 15, 2012 6:15 PM SGT

    Even with all the craziness surrounding ‘kompu gacha’ for Japan’s biggest social gaming companies, their businesses still keep chugging along. And one of the biggest players, GREE (TYO:3632), has hit a ...

  • Education Startup Teamie Rolls Out New Mobile Apps … Tech in Asia - Tue, May 15, 2012 6:00 AM SGT

    Many of you likely remember Teamie , the winner of our Startup Arena competition this past February. With a goal of fusing social and learning into one, the Singapore-based startup has been making good ...

  • Qunar Launches iPhone Travel Photo App, LuTu Tech in Asia - Tue, May 15, 2012 4:52 AM SGT

    China-based app LuTu [1] came to my attention for various reasons: I love to travel, take photographs, document my trips, and share with friends. The app positions itself as a travel photography platform ...

  • Docomo to Make $288 Million Tender Offer for Italian … Tech in Asia - Tue, May 15, 2012 3:38 AM SGT

    Japanese carrier NTT Docomo (NYSE:DCM - News) issued a brief announcement today that it has launched a tender to acquire Italy-based mobile internet content company Buongiorno S.p.A (BIT:BNG). At two euros per ...

  • Clozette Raises US$1.9M in Series A Funding Tech in Asia - Tue, May 15, 2012 2:46 AM SGT

    Fashion social network, Clozette , today announced it has successfully raised S$2.4 million (US$1.9 million) in its series A funding, bringing the total funds raised by the startup to S$3.85 million (US$3.06 ...

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