Eduardo Saverin-owned B Capital’s entry into India with an investment in fintech firm Mswipe is the highlight of the day
On data breach
Journalists from the German broadcaster were able to access names, phone numbers, profile pictures, email addresses, and location data of oBike’s users online.
They also discovered oBike offered no form of protection for users’ data. When oBike users connected their social media accounts to the app to share invitation codes and completed rides, they openly exposed their personal data, which could be exploited.
The data breach reportedly lasted for at least two weeks.
Alibaba to invest US$300M in India’s BigBasket [Economic Times]
Chinese e-commerce behemoth Alibaba is investing US$300 million in Indian online grocery company BigBasket, ET said citing three unknown people.
The deal, which has been in the works for nearly six months, is expected to give the Bangalore-headquartered company a post-money valuation of about US$850 million. The Alibaba-backed online retailer Paytm Mall is also likely to invest as a part of the US$300-million round depending on the final structure of the deal, the sources said.
Eduardo Saverin’s B Capital, DSGCP join Mswipe’s US$40M funding [press release]
Mswipe Technologies, a fintech company that provides Point of Sale (POS) network in India, has closed US$40 million in Series D round of funding, which includes US$31 million announced earlier.
B Capital Group, a global tech fund co-owned by Facebook Co-founder Eduardo Saverin, led the investment round, with participation from existing investor DSG Consumer Partners. Other investors participated in the Series-D funding include UC-RNT Fund, Matrix Partners India and Falcon Edge Capital.
The capital raised will support Mswipe’s continuous effort in expanding Mswipe’s acceptance network at retail merchants for card and digital payments and strengthen its product development capability.
Automotive giant Ford has announced a partnership with e-commerce major Alibaba to enter the Chinese e-commerce market.
The scope of alliance is fairly broad and vague at this point, but a large chunk of the”strategic collaboration” appears to be based around developing a direct sales channel to reach consumers in China.
Alibaba is the country’s largest e-commerce firm that’s best known for its Taobao marketplace and T-Mall service for brands. The alliance could see Ford utilize T-Mall to sell cars to consumers — the company has sold items like cargo jets via Taobao before — but there could be room for collaboration within Alibaba’s ‘Next Retail’ strategy that unites online and offline commerce.
On a U-turn
Jakarta goes back to manual parking system [TheJakartaPost]
Jakarta’s parking system, which made a shift to using parking meters three years ago, has reverted back to its old, manual method of collecting parking fees, as the cooperation between the Jakarta administration and parking machine operator has come to an end.
“The parking meters belong to PT Mata Elang Biru. As our contract finished [on Monday], the company will take back its parking meters,” Jakarta Transportation Agency deputy head Sigit Widjatmoko said on Wednesday as quoted by kompas.com.
The administration began working with Mata Elang Biru in 2014, which installed the machines in several locations around the capital, including Jl. Sabang in Central Jakarta, Jl. Falatehan in South Jakarta, and Jl. Boulevard in Kelapa Gading, North Jakarta.