Foxconn, the Taiwan-headquartered electronics manufacturer, opened a new manufacturing facility in Wisconsin, U.S. yesterday. The planned $10-billion plant is considered one of the largest foreign direct investment projects ever in the United States.
India’s largest baby products retailer Firstcry (Brainbees Solutions Pvt Ltd) is reportedly in talks to several investors to raise up to $100-150 million. According to people aware of the development, the Mahindra group-backed retailer has revived talks with Singapore state investment firm Temasek Holdings.
India’s food-delivery startup Swiggy announced yesterday that it had grabbed $210 million for its newest Series G funding, valuing the startup at $1.2 billion and making it the newest entrant of India’s unicorn club.
Meitu launched a co-branded phone in partnership with Italian high-end product brand, Tonino Lamborghini, as a poster that read “Authentic Italian Taste – Stay Tuned” appeared on Meitu’s official Weibo account.
Didi Chuxing (“DiDi”) announced that it will be launching DiDi Express on June 25 in Melbourne, after a month of pilot operations in Geelong.
OnePlus has sold out one million of its flagship OnePlus 6 within only 22 days of release. Pete Lau, CEO of OnePlus, expressed his gratitude towards the OnePlus community, “we are touched by the trust that one million people have placed in us and are grateful for the loyalty they have displayed.”
Cainiao Network, the logistics arm of Alibaba Group, announced on Wednesday that it will lead a joint venture to invest US$1.5 billion to build a high-caliber digital logistics center at Hong Kong International Airport.
Tencent-backed Chinese Internet giant Meituan-Dianping is seeking to go public in Hong Kong at an evaluation of $60 billion. According to The Information, it is reported that Wang Xing, CEO of Meituan, was in Hong Kong tapping several banks for listing details.
Last week, Tencent filed a lawsuit against Toutiao asking for a token compensation of 1 yuan, or 15 cents USD. A week later on June 1st, Toutiao filed a lawsuit against Tencent to retaliate, but with a demand of 90 million yuan (US$14 million) in compensation.
Tencent filed lawsuits in Beijing on Friday against Beijing Bytedance Technology Co Ltd, the owner of Jinri Toutiao and weiboshijie Ltd, parent company of Douyin, claiming 1 yuan for compensation and demanding public apologies from the two companies to publish on these two new media platforms.
Xiaohongshu, translated into “Red” or “Little Red Book”, a shopping tip app gaining large popularity among Chinese millennials, just closed its $300 million Series D funding round led by Internet giant Alibaba Holding.
SenseTime, a Beijing-based company, raised $620 million in its latest Series C+ round of fundraising, remaining the world’s most valuable and largest AI unicorn at a valuation of over $4.5 billion.
Over the past months, Google has been spotted making extensive efforts around the China re-entry. This time, it released an app called “文件极客” which translates into “Files Geek” into the Chinese market on the morning of May 31.