In yet another development, Chinese microblogging website Weibo has taken down an Instagram-like app just three days after its launch
gojek on track to raise US$2B before 2019 end, says chief [DealStreetAsia]
gojek is on track to raise US$2 billion in its ongoing funding round before the end of the year, accelerating capital-raising to drive an expansion into mobile payments and food delivery.
The ride-hailing giant has now handled about US$1.5 billion of transactions outside of Indonesia, thanks to a budding expansion into the rest of Southeast Asia, President Andre Soelistyo told Haslinda Amin on Bloomberg Television.
Backed by Google and Tencent Holdings, gojek has rapidly grown an international business from scratch after setting up shop in countries like Singapore and Vietnam just nine months prior, he said.
Lyft faces sexual assault lawsuit [TechCrunch]
Fourteen women today filed a lawsuit against Lyft alleging the company has not addressed complaints pertaining to sexual assault, including rape. The suit, filed today in the Superior Court of San Francisco, seeks special, general and punitive damages, among other types of relief.
In one case, a woman describes a Lyft driver who ended the ride more than one mile away from her house, locked the doors, told her, “I love you” and took her phone, the suit claims. It goes on to describe how he eventually pulled over the car so he could climb into the back seat, the suit alleges. That’s when he “grabbed her face to forcefully kiss her, at which time she slapped him, breaking a finger; then eventually driving her to a beach – where he raped her.”
China’s Weibo takes down Instagram-like app after logo plagiarism spat [Reuters]
Chinese microblogging website Weibo Corp has taken down an Instagram-like app just three days after its launch and apologised following accusations of plagiarism about the app’s logo, a stumble in efforts to find new sources of growth.
Weibo, launched by Sina Corp in 2009, is one of China’s most established social networking companies, alongside the likes of Tencent Holdings. But it has been seeking new ways to grow in the face of competition from startups, including short video apps Douyin and Kuaishou.
The company, backed by Alibaba Group Holdings, launched image-sharing app Oasis on Monday. Media likened it to Facebook Inc’s Instagram app as it had a similar interface and allowed users to browse, share and edit photos and videos through the app. Instagram is blocked in China.
FPL Tech raises $4.5 million from Matrix, Sequoia [The Economic Times]
First Principles Labs Technologies has raised US$4.5 million from Matrix Partners India and Sequoia India, in its first round of funding. The startup, which has already launched OneScore App for credit tracking, will also look to offer credit cards to consumers in partnership with banks.
“We believe there are another 60-65 million customers who have a good credit score who have taken loans and repaid in the past, but do not have a credit card; we can cater to that market,” said Anurag Sinha, CEO, FPL Tech, who earlier co-founded digital lending platform Walnut, which was acquired by Capital Float last year.
TIW Private Equity acquires majority stake in Digital Refresh Networks [press release]
Indian buyout firm TIW Private Equity has acquired a majority stake in Mumbai-based digital platform management firm, Digital Refresh Networks.
“The deal size is approx. US$6 million, giving Digital Refresh bandwidth to strengthen its core services and for acquisitions.
Digital Refresh Networks (formerly Digital F5) was founded in 2011 in Mumbai by Ravi Dubey and Barin Mukherjee. It enables delivery of brand objectives on the web, mobile and social media through communication and commerce applications, audio-video elements and customized digital solutions. The company plans to utilise the proceeds from the investment to strengthen its expertise in content creation.
The post Today’s top tech news, Sept 05: gojek on track to raise US$2B; Lyft faces sexual assault lawsuit appeared first on e27.