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Author: akimolux

India’s top mobile operator Airtel is buying smaller rival Telenor

Less than a month after Vodafone confirmed it is in talks to merge with Idea Cellular and create India’s largest mobile operator, one piece of MA has been confirmed in that space. Bharti Airtel has gobbled up smaller player Telenor India in a deal announced today. The Airtel-Telenor deal is subject to regulatory approvals, but both sides said it should be completed within the next 12 months. Airtel-Telenor isn’t quite the mega deal that Vodafone-Idea could be, but nonetheless it is a notable coming together. Airtel is India’s largest operator with an estimated 269 million subscribers, while Telenor will add 44 million (and just under four percent marketshare) to that number. Vodafone and Idea rank second and third with around 200 million and 177 million customers so, if and when they do come together, they will overtake Airtel at the top as things stand. Numbers aside, the two deals are a sign of disruption triggered by the emergence of challenger Reliance Jio and its aggressive 4G strategy. Funded by India’s richest man Mukesh Ambani, it introduced a series of low-cost offerings last November which saw it reach 100 million subscribers in 170 days. Reliance Jio has work to do on its nationwide coverage, however, and it remains to be seen what effect the introduction of tariffs (and the end of its free data promotion) on April 1 will have on its numbers. Telenor, which is headquartered in Norway...

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Indonesia’s Kejora announces first close of $80M fund for Southeast Asia

Indonesia-based early-stage investment firm Kejora has announced the first close of a second fund which is targeted at $80 million for investments in Southeast Asia. Kejora, which is known for its Ideabox accelerator program in Jakarta, has secured one-third of its target, with investment from LPs that include Indonesia’s Barito Pacific Group, Thai conglomerate Charoen Pokphand Family and Hubert Burda Media. The fund is focused on serving pre-Series A and Series A rounds in Southeast Asia with $2 million to $5 million commitments towards each startup. Founding partner Sebastian Togelang revealed that already it has invested in six companies. “We are looking for companies that are scalable and solving big problems that the large population of Southeast Asia are having. We like founders who are experienced and have the potential to solve the vision and problem, and the ambition to scale to be number one in the region,” Togelang told TechCrunch. Its initial investments include fintech companies C88Fintech Group, MoneyTable and Investree, HR startup Qareer Group Asia, delivery service Etobee, and Saas startup Pawoon. Kejora’s team, left to right: Andy Zain (Managing Partner), Barry Pangestu (Advisory Committee), Sebastian Togelang (Founding Partner), Chatchaval Jiaravanon (Advisory Committee), Phengpian Laogumnerd (Venture Partner), Tridbodi Arunanondchai (Venture Partner) The firm’s first fund focused on seed stage deals but now, with plenty more capital available for early stage startups today versus two or three years ago, it has moved down the channel. The pre-Series A focus...

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Confirmed: UK challenger bank Monzo raises £19.5M with another £2.5M in crowdfunding planned

Monzo, one of a number of so-called “challenger” banks in the U.K. aiming to re-invent the current account, has disclosed details of its new funding round. Confirming most of the details from our report earlier this week, the startup has raised £19.5 million from U.S.-based Thrive Capital, London’s Passion Capital, and Orange Digital Ventures, the venture arm of telco Orange. They are investing £13 million, £5 million, and £1.5 million, respectively. The London-based company is also planning to raise an additional £2.5 million through another equity crowdfunding campaign on Crowdcube. The combined round pegs Monzo at a pre-money valuation of £65 million. Given how quickly Monzo reached its earlier £1 million crowdfunding raise — which spectacularly closed in 96 seconds — it shouldn’t have any problem placing this new offering. In fact, the startup is making specific plans to handle the anticipated demand: Monzo will host a pre-registration period from February 28 – March 14 when any of its customers can express their interest in investing. The total amount pledged will be displayed in real-time on Monzo’s website, followed by a ballot to randomly select the people who’ll be able to authorise their investments from March 14. The new combined funding, which will bring total raised to £35 million, will be used by Monzo as it readies for a full bank launch later this year. As it exists today,...

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WTAPS’ 2017 Spring/Summer Lookbook Features Military and Sportswear Inspirations

Tetsu Nishiyama’s brands WTAPS has unveiled its latest lookbook for the spring/summer season, featuring the label’s much-loved range of streetwear. Highlighted by a bold showing of military-inspired goods in the form of camouflage apparel, the collection is flanked by workwear-inspired pieces such as cargo pants and shirts. Of course, sportswear inspiration isn’t lost here with a jersey, hoodies and sweatshirts. Take a look at the collection above and let us know what you’re planning to pick up. Check out more here. Article source:...

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Casey Neistat Is Giving Away a Pair of Nike HyperAdapts

YouTube celeb and filmaker Casey Neistat is set to give away a pair of men’s size 12 Nike HyperAdapts. Taking to his YouTube channel to make the announcement, Neistat also goes through the whole unboxing process, leaving sneakerheads everywhere envious. For those trying their luck, head over to Neistat’s page and leave a comment. To find out more on what’s inside the Nike HyperAdapt self-lacing sneakers, head here. Article source:...

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