Digital bank N26 valued at $3.5bn as it adds $160m onto its series D July 18, 2019 German fintech starlet N26 has upped its valuation to $3.5bn (£2.8bn), after extending its series D funding round to raise another $160m. The digital banking app has now raised a total of $470m in the round, which included investors such as Insight Venture Partners, Singapore’s sovereign wealth fund GIC, Tencent, Allianz X, Peter Thiel’s Valar [...]
Police arrest man after Baidu boss drenched on stage July 4, 2019 Chinese police have arrested a man in connection with an incident that saw someone pour a bottle of water over the head of search giant Baidu’s chief executive. Robin Li was left soaked during a keynote address at Baidu’s annual Create conference in Beijing yesterday after a man stepped on stage to empty the bottle [...]
Social media ad spend growth plummets amid decline in trust July 2, 2019 Growth in advertising revenue for social media firms declined by roughly a half in the first three months of the year, in a sign of possible cooling in the digital ad market. Social media giants remain dominant in the online advertising sector, with ad spend rising 26 per cent year-on-year to just under $18bn (£14.2bn), [...]
Amazon overtakes Apple and Google as world’s most valuable brand June 11, 2019 Amazon has surged past tech rivals Apple and Google to be crowned the world’s most valuable brand. The e-commerce giant jumped in brand value by 52 per cent over the last year to reach $315.5bn (£405.9bn), according to the latest figures from WPP and Kantar. Read more: Amazon to deliver packages by drone ‘within months’ [...]
Tencent backs top AI startup in $24m injection May 20, 2019 A host of major businesses and venture capital firms have joined in a $24m (£18.9m) funding round for a Prowler.io, valuing the Cambridge artificial intelligence (AI) startup at $100m. Chinese media giant Tencent led the round, with publishing house Pearson and Monzo-backer Passion Capital also joining. Other investors included Amadeus Capital Partners, Atlantic Bridge, Cambridge [...]
Game of Thrones fans rage at Chinese tech firm Tencent after episode delayed May 20, 2019 Chinese Game of Thrones fans expressed their outrage with tech firm Tencent this morning after it postponed the airing of the final episode of the fantasy series. Tencent Video which owns the broadcast rights to the HBO show in China was scheduled to air the episode at 9am Beijing time (1am GMT). However, an hour [...]
China’s mobile brands have global ambitions – this will have a big impact on the digital marketing ecosystem April 12, 2019 With the world’s online mobile population growing day by day, and a home market dominated by giants such as Tencent, Baidu, and Alibaba, Chinese app developers are increasingly looking to market their apps abroad. I have seen first-hand this shift from a focus on the domestic market to a much more global viewpoint. And I [...]
WPP hunts for replacement as last Chinese board member steps down March 25, 2019 WPP is on the hunt for a new Chinese board member after it emerged a long-serving director from the country will step down, Sky News reported. Ruigang Li, who founded venture capital giant China Media Capital (CMC) and has served on the WPP board since 2010, has reportedly told colleagues he will not stand for [...]
Mobile bank N26 targets UK expansion with general manager appointment March 14, 2019 European mobile bank N26 has appointed a new general manager to drive forward UK expansion as it steps up competition against rivals such as Monzo and Revolut. Former Morgan Stanley investment banker Will Sorby has joined the Berlin-based digital bank, which operates in 24 markets across Europe, following its UK launch in October last year. Read [...]
Financial services sector must prepare as tech giants set to shake up the industry, FSB warns February 14, 2019 The financial services sector must prepare for both the benefits and risks of tech giants shaking up the industry, the global finance regulator has warned. The Financial Stability Board said that tech giants, such as Google, Amazon, Facebook and Apple, were muscling into the financial services sector and predicted that expansion to continue. Read more: [...]