Blog post thumbnail for fb

5 in 5 minutes - Aug 05th

Uber China to merge with Didi in US$35B deal

Uber is selling its China operation to its rival in China Didi Chuxing, ending the price war in China. The two are set to merge in a deal valued at US$35 billion. Uber has reportedly lost more than US$2 billion in the Chinese market in two years.

Singapore's Carousell secures $35M

Carousell raised US$35 million in series B funding in a round led by Rakuten Ventures, along with Sequoia India, Golden Gate Ventures and 500 Startups. The money raised will be used to accelerate the international expansion.

Singapore-based lending marketplace raises $7.5M

Funding Societies, a Singaporean peer-to-business lending marketplace raised US$7.5 million series A funding in a round led by Sequoia India with participation from Alpha JWC Venture.

Bitcoin drops 20% after $70M worth of bitcoin was stolen

Bitfinex has suffered a security breach, losing 119,756 bitcoins. That amount converts to about $77,000,000. The price of bitcoin dropped almost 20 percent after the news of the hack spread.

China is building elevated buses

Photo courtesy of BBC

Powered by electricity, the 2m-high Transit Elevated Bus can carry up to 300 passengers in a 72ft long and 25ft wide body. The bus is expected to reach speeds of up to 60km per hours, up to four TEBs can be linked together.

 

New blog post visual

Recommend to a friend


Next on your reading list