Alibaba’s Singles’ Day sales top $38 billion

After 24 hours of frenzied buying and selling, and weeks of aggressive advertising and promotions before it, the Alibaba Group said today its sales hit another record high on Singles’ Day, the biggest shopping day on the planet. The Chinese e-commerce giant said its platforms sold goods worth 268 billion yuan, or $38.4 billion today, […]

China’s growing digital influence in Africa

There’s been a heap of China in Africa coverage over the last decade, but very little of it is focused on tech. In part, because the country’s engagement with African startups is light compared to its deal-making on infrastructure and commodities. Now, that all looks to be shifting. TechCrunch has tracked moves by a number […]

Africa Roundup: Canal+ acquires ROK, Flutterwave and Alipay partner, OPay raises $50M

In July, French television company Canal+ acquired the ROK film studio from VOD company IROKOtv. Canal+ would not disclose the acquisition price, but confirmed there was a cash component of the deal. Founded by Jason Njoku in 2010 — and backed by $45 million in VC — IROKOtv boasts the world’s largest online catalog of Nollywood: a Nigerian movie […]

Flutterwave and Alipay partner on payments between Africa and China

San Francisco and Lagos-based fintech startup Flutterwave has partnered with Chinese e-commerce company Alibaba to offer digital payments between Alipay and African merchants. Flutterwave is a Nigerian-founded B2B payments service (primarily) for companies in Africa to pay other companies on the continent and abroad. Alipay is Alibaba’s digital wallet and payments platform. In 2013, Alipay […]

Meituan, Alibaba, and the new landscape of ride-hailing in China

Instead of switching between apps to secure a ride during rush hour, people in China can now hail from different companies using a single app. Some of the country’s largest internet companies — including ride-hailing giant Didi itself — are placing bets on this type of aggregation service. The nascent model is reminiscent of a […]

Image recognition, mini apps, QR codes: how China uses tech to sort its waste

China’s war on garbage is as digitally savvy as the country itself. Think QR codes attached to trash bags that allow a municipal government to trace exactly where its trash comes from. On July 1, the world’s most populated city (Shanghai) began a compulsory garbage-sorting program. Under the new regulations (in Chinese), households and companies […]

Warburg Pincus announces new $4.25 billion fund for China and Southeast Asia

Warburg Pincus, the private equity fund with over $60 billion under management, is doubling down on Asia after it announced a $4.25 billion fund dedicated to China and Southeast Asia. The firm has been present in China for 25 years, and it has invested over $11 billion in a portfolio of over 120 startups that […]

Moving deeper into enterprise cloud, Intel picks up Barefoot Networks

When it launched out of stealth just three years ago, Barefoot Networks was hailed as a company that would transform the way a generation of computing giants like Facebook, Alphabet, Amazon and Microsoft would function while making chip manufacturers like Intel and networking companies like Cisco take notice Now, Intel has not only taken notice, […]

A young entrepreneur is building the Amazon of Bangladesh

At just 26, Waiz Rahim is supposed to be involved in the family business, having returned home in 2016 with an engineering degree from the University of Southern California. Instead, the young entrepreneur is plotting to build the Amazon of Bangladesh. Deligram, Rahim’s vision of what e-commerce looks like in Bangladesh, a country of nearly […]

Alibaba invests about $635M in Red Star Macalline, one of China’s largest furniture sellers

Alibaba Group has acquired about RMB 4.36 billion ($635 million) worth of convertible bonds in Red Star Macalline, one of China’s biggest furniture retailers. If converted, this would give Alibaba about a 10% stake in the company. It also purchased 3.7% of Red Star Macalline’s publicly traded shares on the Hong Kong stock exchange, according […]