Bukalapak shares to trade in IDX on Aug 6

The story: Indonesian e-commerce firm Bukalapak’s share is set to list on the Indonesian Stock Exchange on August 6, according to Kr-Asia.

More about the story: The company has been targeting raising more than US$1 billion in its IPO, more than 25 per cent than previously planned.

Bukalapak, which counts GIC and Microsoft among its backers, is set to be the biggest local listing in 13 years and the largest ever by a startup in the SEA region.

Kurly raises US$200M from Sequoia, Hillhouse, DST

The story: Kurly announced that it has raised US$200 million in a Series F funding round at a US$2.2 billion post-money valuation.

Investors: Aspex Management, DST Global, Sequoia Capital China, Hillhouse Capital, Millennium Management, CJ Logistics Corporation.

What the funding will be used for: Product enhancement, hiring, customer acquisition, investment in logistics infrastructure, and expansion.

Also Read: Sequoia Surge’s new cohort comprises a vegan makeup startup, an innovative email marketing platform, and more

About Kurly: Founded in 2015, Kurly is a South Korean grocery startup that is designed to provide groceries and produce to customers who don’t have the time or interest to visit regular retail stores for their shopping.

Kurly Market delivers orders by 7 AM each morning, with customers were given until 11 PM the previous day to place their order.

More about the story: Kurly claims to have generated US$845 million in annual sales in 2020, marking a 124 percent year-over-year growth.

The company believes that margins will also continue to grow as it achieves scale and operational efficiency while offering quality products and services.

Tencent launches new facial recognition to help the government regulate minors’ time spent gaming

The story: Chinese web giant Tencent has launched a new facial recognition function called “Midnight Patrol” to help the government curb minors’ time spent on gaming.

About the curfew: Anyone under 18 cannot play games after 10 PM.

Also Read: Google, JD.com, Tencent confirm leads in GOJEK Series F fundraising

More about the story: Social media impressions on WeChat suggest that many gamers are not happy with the news, as is expected. Since the system is tied to age restrictions, many minors just months away from turning 18 are being kicked out of their gaming sessions.

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Image Credit: Bukalapak

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