airbnb_acquires hoteltonight

Airbnb confirms HotelTonight purchase – TechCrunch

Traveltech giant Airbnb has confirmed its intent to acquire last minute hotel booking app HotelTonight, TechCrunch reported.

The company declined to disclose the terms of the acquisition.

The HotelTonight app and website will continue to operate independently once the deal is closed, with Co-Founder and CEO Sam Shank reporting to Airbnb president of homes Greg Greeley.

The deal has previously been reported by Wall Street Journal in January; it said that negotiations for the transaction had “gone cold.”

The announcement followed Airbnb’s plan for an IPO this year.

The company’s long-term goal is to build an end-to-end travel platform that includes home sharing, hotel booking, business travel arrangements, and experiences.

Startups in China advertise for “good-looking” tech workers – Bloomberg

On China’s two largest job websites Liepin and Zhaopin, tech companies in China have posted “thousands” of ads that include the use of language that suggests appearance, gender, or age bias, Bloomberg reported.

Including companies such as US-listed LAIX, UniCareer, and iZhaohu, the postings required candidates to “have presentable facial features” or be “under the age of 30” with more than 1,000 postings using beauty as bait for jobseekers.

According to Human Rights Watch researcher Wang Yaqiu, such discriminatory practices “can be worse at smaller companies because they lack the scrutiny that publicly traded companies are under.”

Liepin did not respond to email queries to its investor relations unit’s email address.

Zhaopin stated that it does not allow discriminatory terms in recruitment ads.

Also Read: Airbnb elevates Mike Orgill to GM of Southeast Asia, Hong Kong, Taiwan

Beijing backs Huawei in legal fight against US for the first time – SCMP

Chinese Foreign Minister Wang Yi has called upon Chinese companies to not be “silent lambs” as the Chinese government showed its support for Huawei for the first time in the tech giant’s legal battle against the US government, wrote South China Morning Post.

Huawei CFO Meng Wanzhou was arrested in Canada in December at the request of the US, facing criminal charges such as bank fraud and tech theft.

Wang has called the US approach towards Meng and Huawei “by no means a pure judicial case, but a deliberate political move to bring them down.”

Alibaba investor Boyu reportedly raises its largest fund yet – Dealstreet Asia

Chinese private equity (PE) firm Boyu Capital has closed its largest US dollar-denominated fund with US$3.6 billion in committed capital, Dealstreet Asia reported.

Citing anonymous sources familiar with the matter, the fund is said to be the largest the firm has ever had to date.

It included backing from existing investors such as family offices, sovereign funds and pension funds.

Boyu’s investors include Hong Kong’s richest man Li Ka-shing and Singapore state investors Temasek and GIC, one of the people added.

Founded in 2010, Boyu is known for its 2012 investment in e-commerce giant Alibaba. It has also invested in other profitable deals such as its 2011 purchase of a controlling stake in Sunrise Duty Free, a retailer with outlets at Beijing and Shanghai airports.

Image Credit: Aran Mtnez on Unsplash