Internet firm Baidu Inc intends to make more acquisitions this year to get more smartphone users in the world's largest smartphone market to patronize its services, Reuters reported.
Asia/Pacific
Lessons Indian startups can glean from the failed Facebook acquisition of Salorix
Important lessons can be learned from the failed acquisition deal of India-based social media analytics firm Salorix by Facebook, especially in India where the startup ecosystem is still in its infancy, TechCrunch reported.
Chinese photo app Camera360 releases update with new features
Chengdu, China-based photo editing mobile app Camera360 released its updated version which now has streamlined design and packed features, including one that lets users store photo data in the app's cloud service.
Mt. Gox to seek bankruptcy protection
After shuttering its operations this week, Tokyo-based Bitcoin exchange Mt. Gox told reporters that it will be seeking bankruptcy protection, The Wall Street Journal reported.
Matrix backs Indian business financing firm FSBC
Waltham, US-based venture capital fund Matrix Partners invested an undisclosed amount in Chennai, India-based micro and small business financing firm Five Star Business Credits Ltd (FSBC).
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Tembusu Terminals Pte has set up the first Bitcoin ATM in Singapore just days after Japan-based Bitcoin exchange Mt. Gox went offline because of possible theft, Bloomberg reported.
Robert Friedland's High Power Exploration has invested in Australian copper prospector Apollo Minerals, highlighting the progress it is making into the country's small cap resources sector, Reuters reported.
Mumbai, India-based private equity fund manager ASK Pravi Equity Opportunities Fund picked up a minority stake in Chandigarh-based children's clothing firm Indian Clothing League Pvt Ltd for INR50 crore ($8.08 million).
Seoul, South Korea-based pop music publisher SM Entertainment invested an undisclosed amount to acquire shares in indie label BALJUNSO to contribute to the globalization of K-Pop's indie sector.
Tokyo-based mobile messaging app Line Corp could reach its goal of 500 million instant messaging users by the end of this year even as it thinks about a possible IPO, Bloomberg reported.
Mumbai, India-based impact investment fund Ankur Capital shelled out INR50 lakh for a 30% stake in each of the Indian rural startups cloud farm-management systems firm Cropln, home compost company Daily Dump, and eye-care service provider ERC.
Japan-based mobile messaging app Line will launch an open sticker marketplace called Line Creators Market in April and will also release a Skype-like service in five countries.
With the spotlight suddenly turned on messaging apps after Facebook acquired WhatsApp, Chinese app WeChat released a major upgrade for the iOS and Android versions with new features such as real-time location sharing and chat history search.
Tokyo, Japan-based staffing firm Outsourcing Inc invested $5 million (INR30 crore) for a majority stake in Bangalore, India-based search and staffing company Alp Consulting Ltd to gain access to the Indian market.
