Daily Briefing: Alibaba mulls $4.09b Grab investment; Carousell clinches $108.95m in funding round

And Singapore partners Apple on new LumiHealth app.

From DealStreetAsia:

Alibaba Group Holding is in talks to invest $4.09b(US$3b) into ride-hailing giant Grab Holdings, according to people familiar with the matter.

The Chinese e-commerce giant, a sole investor in the round, will spend a portion of the funds to acquire some of the Grab stock held by Uber Technologies Inc.. The deal may represent one of Alibaba’s biggest bets on Southeast Asia since its first investment in Lazada in 2016.

China’s largest corporation has previously had limited forays in ride-hailing but a potential tie-up with Grab gives it access to data on millions of users in eight countries, a growing delivery fleet as well as a stake in digital wallet and financial services.

The funding—about a fifth of Grab’s last known valuation of $19.07b (US$14b)—comes amidst growing questions over the company’s ability to live up to its lofty price tag as it grapples with the impact of the pandemic.

Read more here.  

From e27:

Singapore’s B2C and C2C consumer marketplace Carousell has inched closer to becoming a unicorn with a fresh $108.95m (US$80m) fundraise from a consortium of companies, led by South Korean tech honcho Naver Corp.

Mirae Asset-Naver Asia Growth Fund and NH Investment & Securities are the other investors in the consortium. The deal values Carousell at over $1.23b (US$900m).

Launched in August 2012, Carousell began in Singapore and now has a presence in eight markets across Asia. The firm claims it has over 250 million listings across Southeast Asia, Taiwan and Hong Kong.

The marketplace has a diverse range of products across a variety of categories, including cars, lifestyle, gadgets, and fashion accessories.

Read more here. 

From ChannelNewsAsia:

Singapore has partnered with Apple on a new app, LumiHealth, which uses technology and behavioural insights to encourage Singaporeans to make positive lifestyle changes and stay healthy.

In a press release, Apple said that LumiHealth is a free personalised programme that uses the Apple Watch to provide participants with reminders, activity coaching and incentives.

Within the app, users travel through worlds with a “friendly intergalactic explorer” that guides them through tasks personalised based on their age, gender, and weight. These tasks include weekly activity goals that can be met through walking, swimming, yoga and other activities.

LumiHealth also reminds users to go for health screenings and immunisations, and participate in wellness challenges that aim to improve sleep habits and mindfulness, as well as encourage better food choices.

By completing these goals and challenges, users help the intergalactic explorer return home and can earn rewards worth up to $380 over the two-year duration of the programme.

Read more here.