Indonesian mPOS platform Cashlez announces IPO plan – DailySocial
Indonesian mobile point-of-sale (mPOS) platform Cashlez announced a plan for IPO in 2020, DailySocial reported.
Cashlez CEO Teddy Tee said that the company plans to get listed on the development board instead of the acceleration board, which was prepared for startups such as Cashlez.
He also stated that the company is currently preparing for the public listing.
Cashlez claimed to have worked with more than 6,000 merchants in Indonesian cities such as Jakarta, Bandung, Surabaya, Jogjakarta, Denpasar, and Medan.
Indian ride-hailing giant Ola to IPO in “less than two years” – Dealstreet Asia
ANI Technologies Pvt. Ltd, the operator of Indian ride-hailing giant Ola, is reported to be planning for an IPO in less than two years after meeting profitability goals required for such listing in the country, according to Dealstreet Asia.
Citing two people aware of the discussions, the report also stated that Ola is expected to have turned its maiden annual profit in the year ended 31 March, the first step towards the goal of an initial public offering (IPO).
Local exchanges require companies to be profitable for at least three years before they go public.
Ola’s investor ARK Impact Asset Management has recently set up a pre-IPO trust fund.
The US, allies call on Facebook to drop encrypted messages plan, citing concerns for terrorism and child abuse – Reuters
The United States, the United Kingdom, and Australia are to call on Facebook to drop its plan to introduce encrypted messages to its platform, Reuters reported.
The report stated that the three countries plan to sign a special data agreement that would fast track requests from law enforcement to technology companies for information about the communications of terrorists and child predators.
The agreement would enable law enforcement to get information in weeks and even days, instead of the current waiting period of six months to two years.
Facebook’s plan is being seen as a potential barrier to this goal.
The agreement will be announced alongside an open letter to Facebook and Mark Zuckerberg.
SoftBank, OYO jointly acquired Japanese rental apartment operator – Nikkei Asian Review
Indian hospitality startup OYO and its investor SoftBank Group have jointly acquired 80 per cent stake in Japanese rental apartment operator MDI, Nikkei Asian Review reported.
Citing a person familiar with the deal, the acquisition is said to cost over US$100 million.
OYO confirmed the transaction but declined to comment on the price and its stake in the company.
SoftBank and MDI had also declined to comment.
According to the report, the deal signals SoftBank CEO Masayoshi Son’s appetite for new investments despite WeWork’s recent IPO “disaster.”
Also Read: Mandiri Capital Indonesia prepares fresh funds for 4 startups this year
Indonesian fishery platform Aruna raises funding – Dealstreet Asia
Indonesian integrated fishery platform Aruna has raised a funding round from SMDV and East Ventures as lead investors, Dealstreet Asia reported.
Aruna is a platform that uses digital technology to help fishermen in Indonesia improve livelihoods through better market access and fairer trading opportunities. It recently won The Alipay-NUS Enterprise Social Innovation Challenge, and has raised a seed funding round in 2017.
A spokeperson for East Ventures has declined to comment on the report.
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