ALSO READAlibaba's revenue to jump 45-48% this year: Jack Ma Amazon vs Alibaba: The R&D spending war Watch: Jack Ma does a Michael Jackson dance number at Alibaba annual party Not one, there are many Harvey Weinsteins in Hollywood: Priyanka Chopra Alibaba redraws retail fault lines, bets on physical stores
Dave McClure’s fall The year saw a wave of sexual harassment stories sweep industries across the world. Among them was entrepreneur Cheryl Yeoh, who accused prolific Silicon Valley investor Dave McClure of sexual assault. Back-to-back public debuts Southeast Asia’s startup community kept a close watch on the initial public offerings of PC gear maker Razer and Tencent-owned games company Sea late this year. Amazon’s grand entrance Speaking of e-commerce, the sector just got a lot more exciting with US behemoth Amazon now in the picture. Alibaba’s shopping spree Jack Ma’s company continued its big push into Southeast Asia, this time leading a $1.1 billion investment in Indonesia’s Tokopedia. US giant bets on Indonesia Online travel startup Traveloka’s $350 million funding round led by Expedia. The first Filipino unicorn Revolution Precrafted raised its series B round co-led by Singapore’s K2 VC last October, valuing the company at over $1 billion, according to two Tech in Asia sources familiar with the deal. Uber’s cunning tactics 2017 has been hell for the US ride-hailing juggernaut.
It started in February, when former Uber engineer Susan Fowler wrote a blog post detailing the sexism and harassment she experienced in the workplace. Uber gets in bed with Singapore’s largest taxi company Uber signed a deal to sell 51 percent of its car rental unit to ComfortDelgro for $218 million. Malaysia opens digital free trade zone In November, Chinese billionaire Jack Ma opened the doors to a free trade zone in Malaysia. Grab’s massive war chest Grab’s $2 billion funding round from China’s Didi Chuxing and Masayoshi Son-led Softbank, the single largest financing in the history of Southeast Asia.
This is an excerpt from the article published on Tech in Asia. You can read the full article here.