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Happened and Happening in Indonesia (June 12-16), new CEO appointment and Jakarta Great Online Sale

Idul Fitri holiday is just around the corner. Happened and Happening in Indonesia discovered what the startup community is up to 

Bukalapak speaks up about the BukaEmas partner controversy

Bukalapak confirmed that it has not been partnering directly with PT Antam for its gold-based investment product 

Indonesian edutech startup Ruangguru reportedly closes US$7-8M Series B funding round

Ruangguru has recently raised a grant from global mobile operator trade body GSMA 

Indonesian P2P lending site Investree to enter Vietnam, launches sharia-based service

Investree has recently secured a peer-to-peer lending license from the country's financial services authority 

The rise of Toutiao (and the decline of Baidu) reflects China’s changing marketing trends

News aggregator app Toutiao has been reporting impressive revenue growth with RMB6 billion (US$880 million) in 2016 from in-feed ads 

Mobike raises over US$600M to ramp up AI tech, IoT network and global expansion

Mobike's long-time backer, Tencent, led the round. Other investors include Sequoia, TPG, and Hillhouse Capital 

MyCash is an e-marketplace for unbanked migrants in Malaysia; raises US$556K in crowdfunding led by Cradle Fund

MyCash enables migrants to purchase products and services such as phone credits and bus tickets without using bank account, credit cards, or prepaid cards 

Blibli acquires, further strengthening its foray into travel industry

Rumours about acquisition by GDP Ventures, which backed Blibli, has been spreading around Indonesian startup scene for more than a month 

Jack Ma could join US$1.5 billion Grab funding round: Bloomberg

If true, it would bring Ma into direct competition with Tencent, while teaming him up with Masayoshi Son