urbanhire_funding_news

Left to right: Donald Wihardja (Convergence Ventures), Fajar Hutomo (BEKRAF), Triawan Munaf (BEKRAF), Benson Kawengian (Urbanhire), Jepri Sinaga (Urbanhire), Halvin Chandra (Denali Capital)

Recruitment platform Urbanhire raises pre-Series A round led by Convergence Ventures

Indonesian recruitment platform Urbanhire announced on Thursday that it has raised an undisclosed pre-series A funding round led by Convergence Ventures, with participation from Social Capital, 500 Startups, Tortola Capital, Denali Capital, and Intrafood Group.

The investment marks Social Capital’s first foray to Southeast Asia.

Urbanhire will use the new funding to expand the company’s reach nationally and regionally; build sales and marketing capability; and accelerate product development such as algorythmic match between jobseekers and companies

The startup said that it has secured more than 2,000 business entities as users of its platform.

It came out as finalist at the Startup Istanbul event in 2016.

PCCW –owner of Viu, Vuclip, and MOOV– raises US$110 million

Hong Kong-based video and music streaming service company PWWC raises US$110 million from Hony Capital, Foxconn Ventures, and Temasek.

Each companies are taking 18 per cent shares in PCCW International OTT business, while Hong Kong Stock Exchange-listed PCCW Media will continue to retain majority ownership.

PCCW Media Manging Director Janice Lee told TechCrunch that the business didn’t need to raise capital since it is funded by its parent, but the deal is driven by potential synergies.

PCCW owns video streaming service Viu, short clip service Vuclip, and music service MOOV.

Also Read: Captain’s Log, Aug 10: GoWabi raises funding from 500 TukTuks, and online sellers wary as Snapdeal pivoting to pure marketplace

Singapore comes out on top on Asia Pacific digital leadership report

Singapore-based strategic and economic advisory firm AlphaBeta revealed the country as the overall top scorer in the Digital Nation: Policy Levers for Investment and Growth 2017 study, followed by Australia and South Korea, Bangkok Post reported.

Prepared by the Asia Internet Coalition, the study was based on interview with 300 academics, policymakers, and multinational companies in 11 Asia Pacific economies.

It was divided into main categories such as Financial Capital (with Australia coming on top), Digital Products (South Korea), Human Capital (Singapore), and Digital Community (Japan).

Uber investor Benchmark Capital to sue Travis Kalanick for fraud

Benchmark Capital, a US-based venture capital firm which was an early investor in ride-hailing giant Uber, has filed a complaint to the Delaware Chancery Court to sue founder Travis Kalanick for fraud, breach of contract, and breach of fiduciary duty, Axios reported.

Benchmark Capital has helped spearhead the campaign to remove Kalanick from board of directors. If this lawsuit is successful, he would be kicked off the board of directors, and will have “faint hopes” to return to the company in a significant role.

Kalanick’s spokesperson called the lawsuit as “completely without merit and riddled with lies and false allegations” while Benchmark’s spokesperson has declined to comment on the matter.

Image Credit: Urbanhire