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19Jun By PriyankaNo Comments

FUNDING

SoftBank led $19.5 million funding round in Splyt

TOKYO, 19th June 2020: Softbank Corp led a $19.5 million funding round in startup Splyt, which helps app operators integrate mobility options with other services, as it seeks to build its own super app. Japanese tech firms have lagged peers such as Tencent Holdings, with its WeChat app, in creating super apps, which offer access to a range of services via a single interface. SoftBank will take a "significant stake" in Splyt, which has helped integrate ridehailing into apps such as Alibaba Group's Alipay and Grab, backed by SoftBank Group Corp, with the deal focused on using the technology with its own services. SoftBank is poised to control two top contenders for a local super app, the chat app from Line Corp, which will be brought under the SoftBank umbrella in October after str...

Whatsapp all Pumped up to Launch its in-app Payment Feature

30May By Gauri SinghNo Comments

News

Whatsapp all Pumped up to Launch its in-app Payment Feature

The Facebook-owned popular messaging application WhatsApp is pumped up to launch its first ever payment service across India making it the first country to support in-app payments. This feature is reported to be introduced as early as next week with an aim to achieve market shares. The payment feature will enable the country’s population to make payments to anyone on their WhatsApp contact list, as well as receive money through the app. Some of the largest banks in the country - HDFC Bank Ltd., ICICI Bank Ltd. and Axis Bank Ltd. have partnered with the messaging app to make this service available to the people. Also, it is being said that the State Bank of India will join once the necessary systems are in place. It is being informed that the social media giant Facebook was seeking to in...

26May By Lavina TolaniNo Comments

CHINA

WeChat Bans ‘Sugar Daddy’ Dating Service in China

An online dating application in China which lets wealthy older people to connect with young lovers has been subject to restrictions after a surge in popularity in the country as reported by state media on Friday. Called SeekingArrangement or "Sugar Daddy", is dating app has now been suspended from WeChat -- a popular Chinese messaging service similar to WhatsApp. The app was becoming intensely popular and was the most downloaded app on Apple Store China this week. The suspension came after Global Times a state run organisation linked with Communist Party in China-urged the government to shut down app's operations for promoting "sugar dating", a practice in which wealthy elite suitors are matched with with younger people in exchange for economic benefits or gifts. Lawyers in the co...

WeChat Owner Tencent’s Shares Surge Over 5%

17May By Lavina TolaniNo Comments

Market

WeChat Owner Tencent’s Shares Surge Over 5%

Chinese Tech Major, Tencent Holdings shares in Hong Kong surged over 5 percent Thursday after it posted a record quarterly profit for the three months to March. WeChat owner Tencent has its market capitalisation floating at over $22 billion as shares traded at 416.4 Hong Kong dollars ($53) during afternoon trade. Even Company's online games which are intensely popular like Honour of Kings have boosted revenues by 26%. The company in its official statement said, The growth in our payment solution business was mainly contributed by the rapidly increasing offline commercial transaction volumes and consumer cash withdrawal fees. WeChat which resembles WhatsApp in functionality to a lot of extents has now become China's biggest social network. The messaging app is an important source...

How Tencent Becomes a Bigger Social Media Platform than Facebook

16Feb By RishabhNo Comments

BUSINESS

How Tencent Becomes a Bigger Social Media Platform than Facebook

Chinese internet giant Tencent Holdings has left Facebook Inc behind it and has become the world's most valuable social network company. Tencent is the company behind China's popular WeChat messenger and is the first company in China to be worth more than $540 billion. Tencent is right now sitting on an advertising goldmine and just 18% of its total revenue in FY 2016 came from online advertising. Comparing with Facebook's model: advertising makes up 98% of its total revenue. Tencent, however works on a different business model. Tencent- Early Start Tencent was started by Ma Huateng (aka Pony Ma) along with his four friends- Chen Yidan, Zhang Zhidong, Xu Chenye, Zeng Liqing in 1998. Its first product was launched in 1999 which was a free instant messaging PC service - OI...

27Jan By NitishNo Comments

CHINA

Tencent Launched China’s Cashierless Store in Shanghai

Chinese Internet giant Tencent has opened its first cashier-less pop-up store in Shanghai in a move to tap into the country's promising unmanned retail industry. At the 300-square meter shop named We Life, shoppers can use WeChat Pay, the proprietary e-wallet of messenger app WeChat, to buy items without paying cash, swiping a card, or interacting with a single human being, according to state-run China Daily. Customers can use a phone to scan a quick response code at the gate, which enables user identification and automatic payment. All products are equipped with radio-frequency identification tags that use magnetic chips to store information such as price and inventory. The store will be open until February 4 and showcases Tencent's payment capabilities in the realm of physica...

Now its Tencent Backed ‘Super-App’ Vs. Tencent’s own WeChat

25Jan By RishabhNo Comments

CHINA

Now its Tencent Backed ‘Super-App’ Vs. Tencent’s own WeChat

Another issue that is rising in China is tech apps taking over its rivals from the same backers. Recently, Meituan, a kind of Chinese technology that very few people out of the country understand is giving some serious competition to WeChat. Tencent Holdings Ltd, the messaging giant app is the developer of WeChat and a key investor in Meituan and watching its siblings take over each other, is something that nobody wants. Meituan has grown very popular in China. It has a restaurant review feature like that of Yelp (San Fransisco based review MNC), while its app also lets users order food off the menu from phone. Even to pay, users don't have to leave the Meituan app. This is the reason why its giving serious competition to Tencent's WeChat. the startup is already the world's fourth...

2Jan By reutersNo Comments

CHINA

China’s WeChat Denies Storing User Chats

Tencent Holdings’ WeChat, China’s most popular messenger app, on Tuesday denied storing users’ chat histories, after a top businessman was quoted in media reports as saying he believed Tencent was monitoring everyone’s account. “WeChat does not store any users’ chat history. That is only stored in users’ mobiles, computers and other terminals,” WeChat said in a post on the social media platform. “WeChat will not use any content from user chats for big data analysis. Because of WeChat’s technical model that does not store or analyse user chats, the rumour that ‘we are watching your WeChat everyday’ is pure misunderstanding.” Li Shufu, chairman of Geely Holdings, owner of the Volvo car brand, was quoted in Chinese media on Monday as saying Tencent Chairman Ma Huateng “must be watchi...

Tencent Beats Alibaba To $500B Valuation, Overtakes Facebook

21Nov By reutersNo Comments

ANALYSIS

Tencent Beats Alibaba To $500B Valuation, Overtakes Facebook

[dropcap]C[/dropcap]hina’s biggest social network and gaming firm Tencent Holdings, which last week reported forecast-beating quarterly results, is close to making Malaysia the first foreign country to roll out its WeChat ecosystem, an executive told Reuters. Tencent has made a “breakthrough” in gaining an e-payment license in Malaysia for local transactions, and plans a launch early next year, senior vice president S.Y. Lau said in an interview. The move pits Shenzhen-based Tencent against rival Alibaba Group as they scramble for new growth opportunities outside China. Tencent on Tuesday became the first Asian firm to enter the club of companies with a market value of more than $500 billion, surpassing that of Facebook. “Malaysia is actually quite large in the sense that we have ...

Hike Messenger Acqui-Hires Media Streaming Device Teewe Maker Creo

12Aug By AnkitaNo Comments

ACQUISITION

Hike Messenger Acqui-Hires Media Streaming Device Teewe Maker Creo

Hike Messenger, the messaging app founded by Kavin Mittal, son of Bharti Airtel founder Sunil Bharti Mittal, has acqui-hired Creo, a Bangalore based tech-startup. The startup is known for making TeeWe, an HDMI based video streaming device. Hike Messenger, which is operated by Bharti SoftBank Holdings Pte. Ltd. (more…)

iPhone Siri, WeChat May Put You at Voice Hacking Risk

6Jun By Press Trust of IndiaNo Comments

News

iPhone Siri, WeChat May Put You at Voice Hacking Risk

Siri, WeChat and other voice- based smartphone apps can expose you to voice hacking, warn scientists who are developing a new app to stop the growing security threat. With just a few minutes of audio samples, attackers can replay your voice convincingly enough to trick people as well as top digital security systems, researchers said. The consequences, from impersonating you with your friends to dipping into your bank account, are terrifying, they said. Using only tools already on smartphones, a team of engineers led by University at Buffalo in the US is creating an app to stop voice hacking. A prototype proved highly accurate in stopping machine- based voice impersonation attacks, researchers said. "Every aspect of your life is now on your phone," said Kui Ren, director of t...

Russia Blocks Chinese Social Media App WeChat

6May By PriyankaNo Comments

CHINA, News

Russia Blocks Chinese Social Media App WeChat

Russias telecoms watchdog has blocked Chinas popular messaging app WeChat for failing to fulfil the countrys Internet regulations. Watchdog Roskomnadzor has listed WeChat, developed by Tencent Technology, on the register of prohibited websites, South China Morning Post reported today. "Tencent is aware of the move and communicating with Russian authorities over the matter," a brief statement from the Shenzhen-based company said. Russia requires Internet service providers to register with related government bodies, but Tencent ?had a different understanding? on this issue, the company said. Access to the app was restricted on the basis of Article 15.4 of the law on information, information technologies and information security, according to Roskomnadzor, officially known as the ...