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China Roundup: facial recognition lawsuit and cashless payments for foreigners

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Hello and welcome back to TechCrunch’s China Roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people...

SoftBank-backed Getaround is raising $200M at a $1.5B+ valuation

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Getaround, a used car marketplace and winner of TechCrunch Disrupt New York Battlefield 2011, will enter the unicorn club with a roughly $200 million...

SoftBank pumps $2B into Indonesia through Grab investment, putting it head...

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Grab — the on-demand transportation app worth $14 billion that is the Uber of Southeast Asia — today announced how it would be using...

China’s Didi removes 300,000 drivers amid safety overhaul

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2018 was the year when Didi Chuxing, the ride-hailing company that defeated Uber in China, vowed to put safety ahead of rocket-ship growth after...

From seed to Series A: Scaling a startup in Latin America...

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Nathan Lustig Contributor Nathan Lustig is an entrepreneur and managing partner at Magma Partners, a seed-stage investment fund in Santiago, Chile. More posts by this contributor ...

Splyt wants to connect the world’s ride-hailing apps for easy international...

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The vision of a universal global ride-hailing service is over. Uber’s decision to exit markets like China, Southeast Asia and Russia coupled with the...

China’s Didi reportedly lost a staggering $1.6 billion in 2018

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China’s largest car-hailing company is facing relentless pressure from all fronts. Beijing-based Didi Chuxing reportedly lost a staggering 10.9 billion yuan ($1.6 billion) in...

Tencent moves into automotive with $150M joint venture

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China’s internet firms are getting pally with giant state-owned automakers as they look to deploy their artificial intelligence and cloud computing services across traditional...

The end of China’s ride-sharing gig

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Over the last few years, millions of Chinese workers managed to earn extra money by being ride-hailing drivers. Many picked the gig because of...

SoftBank’s Vision Fund is preparing to invest $1 billion in Grab

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SoftBank’s Vision Fund is set to continue its recent spree of investments in Asian tech unicorns. The mega fund — which is targeted at...