Business, News

Marketwire – Chinese VC Firm Shunwei Capital Partners Looks to Invest in India & More Market Updates

China-IndiaMarketwire is your quick summary of notable market movements in the technology industry. The firms covered in this segment include Shunwei Capital, Softbank Group, Ola, Snapdeal, Valic, Fidelity, Flipkart, Unocoin and Facebook.

Chinese VC Firm Shunwei Capital Partners Looks to Invest in India

China-based venture capital firm, Shunwei Capital Partners, is looking to tie up with Domestic VC funds to explore investment opportunities in India. It invests in technology firms, focussing mainly in the areas of mobile Internet and IoT. Founded in 2011, it had recently closed its third fund, with $1 billion in commitment. Read More

Softbank Group Writes Down 25% Of Its $2B Investment In India

Japan-based Softbank Group has reported a loss of 58.14 billion yen ($555 million) in two of its biggest investments in India – Ola and Snapdeal, in its six-monthly earnings report. Out of the total amount 29.62 billion yen was because of the appreciation of the Japanese currency. Read More

Valic, Fidelity Mark Down Their Shares in Flipkart

Two of Flipkart’s investors, Valic and Fidelity, have reportedly marked down their shares in the company by 11.3%, and 3.2%, respectively, for the quarter ended August. Thus, putting the firm’s valuation between $8.7 billion and $10.25 billion. It is to be noted that in the previous quarter, both Valic and Fidelity had marked up Flipkart’s valuation by 11.3%, and 3.2%, respectively. Read More

Indian Bitcoin Firm Unocoin Opens Up Its API

In order to promote individuals and firms to create their own bitcoin wallets & other payment instruments, Bangalore-based Unocoin Technologies has opened up its API. This will allow vendors to buy, sell, send and receive payments in the cryptocurrency. In October 2016, the company had closed $1.5 million in Pre-Series A round of investment. Read More

Facebook Testing Various Recruitment Options on its Platform

Facebook is working on features to allow companies to promote their openings via their brand pages on the social network. The company says that it got the idea when it observed the trend of users seeking job applications via posts on the platform. Besides allowing companies to create their job listings, it will also have features for users to apply directly. This will make Facebook compete with other social networks, such as LinkedIn, which offer recruitment tools. Read More 

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