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Lazada founder departs as Alibaba invests $2b, Go-Jek mulls spin-out

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States | Oyo
Ecommerce
CEO Bittner departs as Alibaba pumps an extra US$2 billion into Lazada (Singapore). Lazada chairman Lucy Peng will take over as CEO from founder Bittner, who will adopt an advisory role at Alibaba. Peng is also a co-founder of Alibaba, and executive chairman of Ant Financial. Alibaba – which has previously invested close to US$4 billion in the ecommerce firm – will up its stake beyond 83 percent as a result of this latest capital injection, which will be used to accelerate its growth plans. (Tech in Asia)

Transportation
Go-Jek looks to spin out Go-Life (Indonesia). Senior vice president Dayu Dara Permata indicated that the ride-hailing firm may restructure Go-Life as a separate company that will seek to raise its own funds. The Go-Life app offers users the ability to book beauticians, masseuses, home cleaners, and vehicle mechanics. (DealStreetAsia)

Mydaodao nets multi-million-dollar funding from Baidu, Sequoia, and others (China). The car-sharing platform said it had closed three funding rounds over the last few months that have collectively raised tens of millions of US dollars. The first two rounds were led by Baidu Ventures and Sequoia Capital China, with Bertelsmann Asia Investments and Volcanics Venture involved in the most recent fundraise. Mydaodao’s fleet of around 2,000 cars – mostly electric – have been available to rent in Qingdao since December 2017. It plans to expand in the city before moving to other locations throughout China from later this year. (KrAsia)

Didi Chuxing backs car rental service Yestock (China). In the latest of several plays aimed at diversification beyond its core ride-hailing business, Didi has invested in Yestock to become an “important shareholder” in the car rental firm. Financial details were not disclosed. (China Money Network)

Elsewhere, Didi’s bike-sharing service faced problems (China). Another of Didi’s diversification efforts, Didi Bike, was reportedly suspended for one day by authorities in Shenzhen for illegally placing rental bicycles in several locations around the city. Shenzhen’s transportation committee ordered last August that no new dockless bikes should be placed in the city. (Technode)

Delivery and logistics
Ready-to-eat delivery startup Fingerlix secures US$1.31 million debt finance (India). Fingerlix will use the loan to to build production capacity, broaden its product offering, and expand into new markets. Mumbai-based Alteria Capital provided the capital out of its venture debt fund. (Inc42)

Travel and hospitality
Oyo Rooms acquires Novascotia Boutique Homes in US$1 million deal (India). The online budget hotel brand will enter the serviced apartment sector with its acquisition of Chennai-based Novascotia. Oyo recently outlined its expansion plans, including possible M&A activity, to take into higher-value corporate and executive-stay segments. (Inc42)


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