Articles by Yoolim Lee

SoftBank, Alibaba Lead $1.1B Investment in Indonesia E-Commerce Firm Tokopedia

SoftBank Vision Fund and Alibaba Group Holding Ltd. led a $1.1 billion investment in PT Tokopedia, a financing round that will help Indonesia’s biggest online marketplace venture beyond e-commerce into new areas such as air tickets and insurance. The company …

Ride-Hailing Firm Grab Aims to Be Major Financial Services Player in SE Asia

After gaining success in ride-hailing, Grab co-founder Anthony Tan is pushing his startup into a new challenge: catering to those under-served by traditional financial institutions in Southeast Asia. Tan, together with GrabPay Southeast Asia Managing Director Jason Thompson, laid out …

Malaysia, Australia Investigate Massive Commercial, Governmental Data Breaches

Malaysia is investigating the theft of mobile-phone records for 46.2 million customers, while an online security lapse in Australia exposed personal details of almost 50,000 employees. The Malaysian government is working with carriers and police to investigate the issue and …

Uber’s Biggest SE Asia Rival, Grab, Buys Indonesian E-Commerce Platform

Grab, Uber Technologies Inc.’s biggest rival in Southeast Asia, will acquire Indonesian e-commerce startup Kudo for an undisclosed amount, striking its first deal since pledging to invest $700 million in its largest market. The purchase is aimed at beefing up …

Facebook Co-Founder Leads Financing for Online Health Insurance Startup

Facebook Inc. co-founder Eduardo Saverin’s B Capital Group has led a new financing round for a Singapore-based online health insurance service that values the startup at $100 million. Singaporean government investment vehicle EDBI jointly led the $25 million round in …

Update: Samsung Ends Production of Galaxy Note 7 After New Battery Fires

Samsung Electronics Co. is ending production of its problematic Galaxy Note 7 smartphones, taking the drastic step of killing off a smartphone that became a major headache for the South Korean electronics maker. After halting sales of the new versions …

Samsung Halts Note 7 Production Following Reports of New Battery Fires

Samsung Electronics Co. halted production of its Note 7 smartphones after customers reported problems with new devices, the latest blow in a six-week crisis over exploding phone batteries. Samsung temporarily suspended production of its most expensive phone, a person with …

Samsung Blames Minor Battery Defect for Galaxy Note 7 Smartphone Recall

Samsung Electronics Co. blamed a minor battery manufacturing flaw for prompting a global recall of its Galaxy Note 7 smartphones and is seeking more time to investigate the cause behind its deepest crisis in years. The Korean company outlined the …