Alibaba invest $1B in Ecommerce startup Lazada

alibaba_shutterstock_265259816

It’s hard to call a billion dollar investment in an emerging market anything more than a major win, but for Lazada, the Rocket Internet-backed e-commerce firm in Southeast Asia, there’s more than an element of relief. The four-year-old company nearly ran out of money right before Alibaba swooped in with a majority investment, including $500 million in fresh capital and the acquisition of $500 million in stock from existing investors.

Lazada has long been billed the Amazon or Alibaba of Southeast Asia. While it may be the largest e-commerce player in the region in terms of size, under the hood, the company is far from financially healthy.

Rocket Internet’s latest financials are due Thursday, but the most recent data shows that Lazada grossed $191 million in sales during the first nine months of last year. Not bad, but the company carded a $233 million operating loss for the period, much of which was driven by the cost of acquiring users, incentives to paid to merchants and general marketing costs.

Building an e-commerce company in an emerging market sure isn’t easy.

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Source: TechCrunch

Slow internet connection for TM subscribers

SHAH ALAM 17 December 2015. Orang ramai membuat pembayaran dan perkhidmatan di TM Shah Alam, Persiaran Damai, Seksyen 11, Shah Alam. STR/Faiz Anuar

KUALA LUMPUR: Telekom Malaysia Bhd (TM) broadband subscribers may experience reduced Internet access speed at least until the end of the month due to a fault on the Asia Submarine Cable Express (ASE) system off Singapore.

TM, in a statement, today said the fault on the ASE system has affected the Cahaya Malaysia submarine cable linking Malaysia to North Asia and the United States (US).

“ASE consists of six fiber pairs of which TM owns two fiber pairs, named Cahaya Malaysia.

“We have immediately taken proactive steps by optimising our networks to reduce congestion and diverting traffic to alternative routes, thus, minimising the impact to our users,” it said.

TM said the restoration works require concerted efforts of all consortium members, and is scheduled to begin on March 25 and is expected to be completed on March 31.

“However, we wish to highlight that the restoration works will be subject to weather and sea conditions, identification of the actual location of the fault and the challenges ahead, working at great sea depths and pressure.”

“During this period, Internet users may experience some degree of service degradation such as slow browsing and high latency while accessing international websites mainly hosted in the US, North Asia and Europe.

“Customers using Virtual Private Networks (VPNs) and other critical business applications linked to US, North Asia and Europe may also experience some level of service degradation.”

TM will provide necessary updates on the progress of the restoration works via its official customer support accounts on Twitter @TMConnects as well as on Facebook at Everyone Connects, and will monitor feedback from its customers on the quality of service experienced.

“We apologise for any inconvenience caused and would like to assure customers that we are undertaking all necessary measures to ensure that customers continue to experience uninterrupted service.”

Should netizens have any questions or require any assistance, they can contact TM via @TMConnects​ or Everyone Connects​ Facebook page​ or via email at help@tm.com.my. ​

Source: New Straits Times Online

Tech start-ups the new gold for China’s wealthy as economy slows

 A taxi driver is reflected in a side mirror as he uses the Didi Chuxing car-hailing application in Beijing, China, in this September 22, 2015 file picture. Reuters/Jason Lee/Files


A taxi driver is reflected in a side mirror as he uses the Didi Chuxing car-hailing application in Beijing, China, in this September 22, 2015 file picture.
Reuters/Jason Lee/Files

More wealthy Chinese are ploughing money into technology start-ups which are increasingly seen as a safe haven as the slowing economy eases hopes of extracting returns from traditional investment such as stocks, property or gold.

While Chinese shares are being pummelled and the yuan is under pressure, these private investors are turning to businesses such as taxi-hailing company Didi Kuaidi, which saw its valuation rise 25 percent to about $20 billion in a $1 billion funding round launched last week.

This gain sharply contrasts with the 43 percent plunge in the CSI 300 index of top-listed companies in Shanghai and Shenzhen since June last year, underscoring the appetite for tech firms. China’s stock markets are the worst performing in the region, according to Thomson Reuters data.

“First-tier (technology) names still retain their valuation due to a capital flight to safety,” said Richard Ji, managing partner of fund All-Stars Investment and a tech industry expert.

Venture capital investments into China’s technology start- ups more than doubled to $32.2 billion in 2015, with $4.7 billion of investments so far this year, according to research firm CB Insights.

This is poised to rise further, as China is awash with capital from local private equity investors, insurance companies, wealth management firms as well as yuan funds raised by global venture capital players, bankers said.

Even some mid-sized banks, including China Merchants Bank are investing into tech ventures.

“We have seen a lot of interest in alternative and direct investing outside China as well as in China, such as investments in private companies and startups,” said Francis Liu, regional market manager for ultra-high net worth clients in Greater China at UBS Wealth Management.

PRIVATE PLAY

What is unique about China’s venture capital and private equity industry is that a good chunk of yuan fund raising comes from wealthy individual investors. This contrasts with Western markets, where institutional investors take the lion’s share of such placements.

A lawyer told Reuters she had recently structured several investment deals into tech companies for wealthy clients. She declined to be named, or give details of the deals due to the confidentiality of the matter.

In addition to Didi Kuaidi, which is backed by China’s e-commerce giant Alibaba and social networking firm Tencent, large unlisted companies such as lending platform Lufax and Meituan-Dianping, a crossover between Yelp and Groupon, have raised billions of dollars in recent months, at higher valuations.

And as the economy slows, investors are more hesitant to back ventures by untested names, preferring companies with established scale and the ability to expand outside China.

“Investors want to throw money behind big names. For the smaller guys, it’s getting more difficult,” said a banker who was involved in several recent private fundraising rounds for Chinese technology companies.

 

Source: Reuters

Apple Watch reportedly took 52% of the smartwatch market in 2015

Apple Watch - Hermes wrist

According to a new research, the Apple Watch claimed 52% of the global smartwatch market in 2015, after less than a year on sale. The Apple Watch’s Android Wear competitors held only 10% of the market, according to Juniper Research.

Despite the Apple Watch’s popularity, Juniper has found that consumers are still wary of the category. Many are holding off on purchasing a watch, citing factors such as price. Some customers are also skeptical that a smartwatch would actually be a convenience.

While smartwatches’ most common claim to a use case is to improve convenience and ‘free’ users from their smartphone, several users and reviewers note that this simply shifts the burden of notification to another location, rather than lessening the load.

Juniper has found that, outside of the Apple Watch, the smartwatch market has been driven by devices with more basic functionality and lower cost. Most of these devices tend to have basic notifications and fitness tracking, without the ability to run apps. The largest markets for smartwatches in 2015 were, according to Juniper, North America, China and East Asia, and Western Europe.

Source: iMore

Alibaba denies sharp slowdown in sales: report

Plausible deniability: Alibaba has denied an executive's report that the slowing China economy is having a negative impact on its sales growth. — AFP

Plausible deniability: Alibaba has denied an executive’s report that the slowing China economy is having a negative impact on its sales growth. — AFP

SHANGHAI: E-commerce giant Alibaba has denied its sales volume growth has slowed into single digits because of China’s faltering economy, the official Xinhua news agency reported, after comments by an executive raised worries over performance.

The company dismissed media reports that turnover on its hugely popular online platforms would grow less than 10% for the quarter ending in September, Xinhua said.

An Alibaba spokeswoman described the Xinhua report as accurate but made no further comment.

It came after Alibaba investor relations chief Jane Penner said gross merchandise volume (GMV) – a measure of value for online sales – for the current quarter came in lower than the company had forecast, Bloomberg News reported.

 “We are observing some negative impact to the magnitude of the spending,” Bloomberg quoted Penner as telling the Citi Global Technology Conference in New York.

“We believe that our September quarter GMV will be mid-single-digits lower than our initial expectations.”

New York Stock Exchange-listed Alibaba’s stock price tumbled on Sept 8, but it closed up 5.14% to US$64.04 (RM278.26) on Sept 9.

Alibaba’s GMV in the quarter ended in June jumped 34% year-on-year to 673bil yuan (RM456.18bil) – then valued at US$109bil (RM471.80bil) – according to the company.

Alibaba executive vice chairman Joe Tsai told Xinhua that the stock price should reflect the company’s actual performance.

“Comments about the Chinese economy will not affect our confidence in allowing our performance to speak for the company,” he said.

China’s economy has slowed further this year, expanding 7.0% in each of the first two quarters, after its growth for last year hit a 24-year low of 7.3%.

Alibaba’s Taobao platform holds more than 90% of the consumer-to-consumer market in China, and its Tmall platform is believed to command more than half the Chinese market for business-to-consumer transactions. — AFP

Source: The Star Online

Apple launches new iPhone 6s models, iPad Pro and Apple TV

Every Apple event is always preceded by intense speculation on what the company is about to release.

For this year’s event, the Internet rumour mill ground into overtime with a number of obvious and not-so-obvious predictions.

These ranged from the inevitable iPhone 6s and iPhone 6s Plus devices to a new Apple TV and and a larger screen tablet called the iPad Pro.

Also, there were a few sure things which had already been announced, namely iOS 9, watchOS 2 and the next Mac OS X El Capitan.

So now that the event is over and all has been revealed, what did we get?

Same design, new stuff: While the iPhone 6s and 6s Plus share the same design as the iPhone 6, there are a lot of changes under the hood.

Same design, new stuff: While the iPhone 6s and 6s Plus share the same design as the iPhone 6, there are a lot of changes under the hood.

iPhone 6s and iPhone 6s Plus
Based on past experience, the iPhone model following a major new redesign differed little in looks, but got a speed bump and some hardware tweaks.

So after the iPhone 3G you got the iPhone 3GS, after the iPhone 4 you got the iPhone 4S and after the iPhone 5 was the iPhone 5S.

For the iPhone 6s and iPhone 6s Plus, the Internet predicted that it will have the same design, but will be slightly thicker (to prevent any more “bendgate” incidents) and, most interesting of all, feature a new Force Touch capable screen.

So what did we get?

The Apple event indeed revealed the iPhone 6s and 6s Plus – while they look the same as the current models, CEO Tim Cook says they are very different on the inside.

Chief amongst these changes is the 3D Touch feature (looks like that’s what Apple is calling Force Touch now) and while we expected it, Apple’s implementation will completely change how you interact with iOS.

Using the same feature first seen in the Apple Watch, the iPhone 6s and 6s Plus take the whole “press harder” idea to a whole new level by adding new functions.

At its most basic, you can press down an app and bring up a context menu that shows your most-used actions relating to that app.

However, what 3D Touch really enables is a right-click paradigm in iOS – press harder in your summary of email messages and you’ll get to peek at the entire email, while pressing harder you’ll open the email proper.

See a link in iMessages? 3D Touch on it and you can pop-up a quick browser window to see the webpage – lift your finger to go back to your message.

In fact, instead of double-clicking on the Home button to bring up the multitasking menu, on the iPhone 6s and 6s Plus you can do this by pressing down harder while in an app and swiping to switch between open apps.

On the hardware front, the iPhone 6s and 6s Plus share the same resolution as before, but internally, many of the hardware features have been upgraded.

The processor is, as expected, a new A9 processor with an M9 motion co-processor, while the Touch ID sensor is now claimed to be even faster than before.

What’s an iPhone without a class-leading camera? The iPhone 6s and 6s Plus don’t disappoint – both come with an upgraded 12-megapixel image sensor which Apple claims not only captures more detail than before, but does this without compromising on detail and colour accuracy.

Apple is also introducing a feature called Live Photos with the iPhone 6s and 6s Plus which captures a short video clip before and after your still photo so you can see your photos in motion when you press down on a photo.

Yes, we’ve seen this feature in another smartphone before.

More importantly, the new sensor also allows for 4K video recording and according to Apple’s Phil Schiller, senior vice president of worldwide marketing, the iPhone 6s and 6s Plus can edit 4K video directly in iMovie on the device itself.

The front-facing camera has also been upgraded to a 5-megapixel FaceTime camera and taking a trick from an old iMac, the LCD screen can be used as a makeshift flash to help illuminate your face when taking a selfie.

Oh yes, the rumours were also correct in that both new models are built on a stronger 7000 series aircraft grade aluminium alloy and cover glass.

While no local prices have been announced, a quick check on the US Apple Store reveals that the contract-free iPhone 6s will go for US$649 (RM2,800) for the 16GB version, US$749 (RM3,200) for 64GB and US$849 (RM3,650) for 128GB.

Meanwhile, the iPhone 6s Plus is priced at US$749 (RM3,200) for 16GB, US$849 (RM3,650) for 64GB and US$949 (RM4,100) for 128GB.

The US pricing is actually the same as before, but at our current exchange rate, the devices are going to be quite hard on the wallet unless Apple decides to charge a bit lower locally.

The new iPhones are slated for launch in the United States and some countries on Sept 12, while countries like Hong Kong and Singapore will get them by Sept 25.

As usual, Malaysia is not specifically listed in any of those launch dates, and we will probably have to wait till the end of the year before we can purchase one.

More TV: The redesigned Apple TV is bigger but offers more storage, an App Store and a new remote control. It ships in late October in the United States.

More TV: The redesigned Apple TV is bigger but offers more storage, an App Store and a new remote control. It ships in late October in the United States.

Revamped Apple TV
Having been left alone and unloved since the last update in 2013, the Apple TV was rumoured for a big update at this Sept 9 event.

Most of the rumours seem to agree that the new Apple TV would be larger, feature a touch-based remote control and a host of new services including an App Store, TV streaming service, Siri integration and more on-board storage than the meagre 1GB on current models.

However, the most exciting rumour was that the App Store would support games that could be played on the TV with a wireless controller.

Indeed, as it turns out, all the rumours were right and a new Apple TV was announced with more powerful hardware and an App Store.

It is physically larger than its predecessor but that’s because it’s sporting new powerful hardware and a lot of cool features.

For one thing, the remote is now touch- and Siri-enabled so you can swipe across the surface of the remote to access the menu options.

The real magic is in Siri – you can specifically ask for particular shows or genres as you’d expect but what makes it powerful is that you can ask specific questions like, “Show me the Modern Family episode with Edward Norton” and get Siri to find it for you.

Even more interesting is that if you missed a bit of conversation in the show, you can ask Siri something like, “What did she say?” and Siri will rewind the show back 15-seconds and temporarily turn on captions to help you catch what you missed.

Of course, with the appearance of the App Store, the new Apple TV can install not just entertainment apps but also games while the remote can be used as the game controller.

Music gaming company Harmonix, showed a very cool music-themed game called Beat Sports which takes advantage of the motion sensor in the Apple TV remote to offer gameplay similar to the Nintendo Wii games of yesteryear.

Also, games can be started on the iPhone or iPad and continued seamlessly on the Apple TV later.

Instead of simply being “based on iOS”, Apple is calling the iOS-based operating system on the Apple TV the tvOS.

The Apple TV is slated to be available in October in 80 countries.

There will be two versions – a 32GB version for US$149 (RM650) and 64GB for US$199 (RM850).

Bigger is better: The iPad Pro's 12.9in screen and more powerful processor allows for easy typing and a more notebook-like experience

Bigger is better: The iPad Pro’s 12.9in screen and more powerful processor allows for easy typing and a more notebook-like experience

iPad goes Pro
The iPad Pro rumour has been floating around for a while now and many agree that Apple has indeed been working on a tablet with a screen of 12in or 13in in size.

Apart from the screen size, the ability to run apps side-by-side and a rumoured stylus, however, very little information was leaked about this new device.

So did we get the iPad Pro? Yes, indeed, and it even has a stylus!

The iPad Pro comes with a 12.9in oxide TFT LCD screen with a 2,732 x 2,048-pixel screen – that’s  a whopping 5.6 megapixels with a pixels-per-inch density of 264 for anyone who’s counting!

The device runs on the new A9X processor which Apple’s Phil Schiller claims is 1.8x faster than the A8X processor it replaces with double the performance when it comes to graphics.

Schiller also showed off how the iPad Pro is actually powerful enough to edit three streams of 4K video simultaneously – that’s impressive considering that many PCs today still struggle with editing 4K video.

For the first time, the iPad Pro comes with a four-speaker system which automatically changes the stereo left and right channels depending on the orientation.

Apparently, all four speakers are used to subtly enhance the stereo soundstaging as well.

The iPad Pro also comes with a new magnetic connector which connects to an optional Smart Cover, a magnetic cover with an integrated keyboard – yes, we’ve seen a similar accessory for Microsoft’s Surface Pro tablet already.

Lightning charge: The back of the Apple Pencil pops open to reveal a Lightning connector which can be plugged right into an iPad Pro to charge the stylus

Lightning charge: The back of the Apple Pencil pops open to reveal a Lightning connector which can be plugged right into an iPad Pro to charge the stylus

Finally, there’s the Apple Pencil – again, it’s similar to powered styli we’ve seen with other tablets and it recognises pressure as well.

What’s interesting, however, is how the Apple Pencil charges – the back of the stylus pops off to reveal a Lightning connector which plugs directly into the bottom of the iPad Pro to charge.

A number of apps compatible with the Apple Pencil were shown off, including one from Adobe called Photoshop Fix.

The iPad Pro starts at US$799 (RM3,450) for a 32GB WiFi-only version, US$949 (RM4,100) for a 128GB WiFi version and finally, a 128GB WiFi plus cellular version which will set you back US$1079 (RM4,650).

The iPad Pro ships in November in the United States, but there is no information yet on when it will be available here.

New storage plans:Apple also announced upgraded iCloud storage plans

New storage plans:Apple also announced upgraded iCloud storage plans

Conclusion
Well, there’s a lot more of “me-too” in this launch, with Apple adding many features to its devices which we’ve seen before in other rival models.

However, the 3D Touch features integrated into the new iPhones promise to be quite revolutionary. We can see many of these features actually being truly useful on a day-to-day basis.

The iPad Pro is an interesting device – again it’s sort of playing catch up to other large tablets out there, most notably the Microsoft Surface 3 Pro with its Type Keyboard and stylus, but it does take the iPad line into a new place.

Source: The Star Online