5 in 5 minutes - March 3

Breaking News! Klook Raises US$30 Million in Series B!

Sequoia Capital Joins Team of Global Leading Investors as Klook Further Expands Spectrum of In-Destination Services. 

SoftBank set to invest more than $3 billion in WeWork

SoftBank is close to finalizing an investment in WeWork, according to CNBC. The deal is expected to be worth over $3 billion. The investment being discussed is a $2 billion primary tranche of funding, followed by a secondary round worth more than $1 billion. SoftBank may increase the size of the secondary investment to nearly $2 billion, the source said, for a total investment of nearly $4 billion in the shared space real estate startup.

WeWork has just officially launched two Hong kong facilities, bringing co-working spaces and services to entrepreneurs. One in Lockhart Road, Wan Chai and the other one in Tower 535, Causeway Bay.

UnLearn launches an accelerator program to drive US-Asia network for learning and talent innovation

UnLearn, a leading Hong Kong-based innovation platform driving early- and growth-stage learning technology and talent development ventures, announced the launch of The UnLearn Innovator Program. The groundbreaking initiative will promote trans-pacific technology ventures focused on human capital development. UnLearn has partnered with GSVlabs, a global innovation center based in Silicon Valley, to launch the program.

The UnLearn Innovator Program is a 3-month program designed to help early-stage entrepreneurs develop, execute, and scale their businesses. It will include marketing services, geographic expansion opportunities, and network benefits for entrepreneurs on both sides of the Pacific.

Carousell launches used motor vehicles classifieds app Carousell Motors

Singapore-based p2p marketplace Carousell has launched a used motor vehicles classifieds app called Carousell Motors. The marketplace will feature used cars and used bikes listed by individual sellers as well as verified dealerships.

Carousell Motors is Carousell’s first new app since the startup was founded in 2012. The launch will bolster Carousell’s position in Asia’s motor vehicles classifieds space.It had acquired Singapore-based used cars marketplace Caarly four months ago.

Xiaomi restarts global expansion with Pakistan launch

Chinese gadget manufacturer Xiaomi announced it’s launching in Pakistan – the world’s sixth-most populous country – after months of speculation and official denials. Xiaomi has expanded slowly since its 2011 debut in China, focusing mainly on Southeast Asia, India, parts of the Middle East, and Brazil. Its Pakistan entry is the largest since it ventured into Brazil mid-2015.

Sony, LINE are in talks to join forces to develop AI devices

Japanese tech companies Sony Corp. and LINE Corp. are considering to join forces to develop artificial intelligence (AI)-based devices. As stated during the Mobile World Congress 2016 in Barcelona on Monday, Sony Mobile is “exploring the collaborative possibilities with Sony Agent Technology on Xperia Smart Products and the new cloud AI platform from LINE Corporation, the company behind the popular LINE messaging app, to develop and co-create a new communication experience.”