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Today in News: VW will hold 40% equity in Didi, Meituan is investigating its cybersecurity leak.

Alibaba acquired Sound Connect 先声互联, Bloomberg launched the subscription business


Today in News: VW will hold 40% equity in Didi, Meituan is investigating its cybersecurity leak. | BEAMSTART News

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Today in News are brief updates by the BEAM team of what's happening in the business, finance, and technology space around the world (as well as in China). Download the BEAM App to get curated news like these from over 100 sources.

Around the world:

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  1. Amazon is promoting their own online payment service Amazon Pay. They announced that if the retailers use Amazon Pay, they will get discounts from Amazon.

  2. Amazon launched Wag, it’sown line of pet products.

  3. Bloomberg launched the subscription business for Bloomberg Digital.


China:

  1. Meituan is investigating the cybersecurity issue that the online information of hundreds of thousands of users was leaked.

  2. Accrording to Compass Intelligence, Huawei is ranked #12 in the global top 15 AI chip list while top3 is Nvidia, Intel and NXP.

  3. Alibaba announced that they acquired Sound Connect 先声互联 which is the earliest team in China to work on speech enhancement and they provided solutions for the voice interactive software and hardware of Alibaba, Baidu, Xiaomi and other companies before.

  4. Xiaomi and CJ Hutchison Holdings 长和 built up the strategic partnership - CJH will sell xiaomi products in their 17700 offline stores in Danmark, HongKong, Ireland, Italy, Uk, etc.

  5. Volkswagen confirmed the joint venture with Didi. VW will hold 40% equity.

  6. UBTECH优必选 announced that they raised 820million USD in C round, led by Tencent. UBTECH is an AI robotic unicorn in China.


Cross-border:

  1. Xiaomi India launched Xiaomi music and Xiaomi video in India.

  2. GGV finished raising the first RMB fund, over RMB 1.5 billion in total. So now, GGV manages 8 USD fund and 1 RMB fund.


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