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PR Newswire

Online Orders on Yiwugo Doubled, over 80% of Which were Placed by Cellphone Users

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YIWU, China, Dec. 25, 2020 — Yiwugo.com is the official website of the Yiwu Commodity Market, which is the largest commodity wholesale market in the world. According to the back-office statistics about transactions on Yiwugo, as of the end of December, the total number of online orders in 2020 had grown by 100% YoY as compared with 2019, more than 80% of which were placed by cellphone users; the SKU indicator had increased from 3 million in the beginning of the year to 5 million; the number of registered buyers had exceeded 6 million.

The increase in orders on Yiwugo is mainly attributed to the following reasons:

I. As the circulation chain of commodities shortened, small retailers had an increasing stock demand

Along with the development of information technology and the logistics industry, the circulation chain of commodities has been shortening and the efficiency of commodity circulation has been increasing. As a result, the original multi-layered wholesale system is shifting to the mode of direct supply to retailers in small batches. In response to the development trend of the wholesale market, Yiwugo has also actively adjusted and constantly improved its services to address the stock demand of small retailers, such as launching the live streaming function for suppliers to introduce their products to retailers, improving payment and logistic services, and stepping up efforts to publicizing the stocking demand of small retailers. All these measures have contributed to the significant increase in small retailing orders on Yiwugo, hence a notable growth in orders on the platform as a whole.

II. The continuous development of the global mobile internet has promoted the increase in orders placed by cellphone users

2011 to 2020 is a golden decade for the development of the mobile internet. Through 10 years’ development, the mobile internet has been gradually popularized, making online transactions undoubtedly easier and faster. According to statistics, the global downloads of the Yiwugo app exceeded 30 million, and more than 80% of the orders on Yiwugo came from cellphone users. These orders have promoted the growth of total orders.

III. The impact of the COVID-19 pandemic drove up online orders

In recent years, the e-commerce supply chain in Yiwu has been developing at a high speed, and Yiwu has become the world’s largest online commodity supply base for daily necessities and also taken the lead in cross-border e-commerce. Many vendors in Yiwu are adopting the mode online-offline integrated development. In the context of the COVID-19 pandemic, such a mode has enhanced the resistance of the small commodity supply chain against risks brought by the pandemic. As the online version of the Yiwu market, Yiwugo has served as a strong supplement to the physical market and gained favor among even more buyers around the world.

PR Newswire

Flipclutch Research: AR/VR social networking may become mainstream in 2030, WIMI leads the new social networking of 5G holographic communication

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HONG KONG, Dec. 24, 2020 — Flipclutch Research, a market research organization in Hong Kong, recently released a research report on ‘AR/VR social networking may become mainstream in 2030, WIMI leads the new social networking of 5G holographic communication’. With the future development direction of the holographic image in science fiction films, in the future, human beings are likely to completely abandon display products with screens such as TVs, computers, and mobile phones. Instead, just like in current science fiction films, huge multi-page charts or photos on the display screen are directly presented in front of their eyes, without touching the screen, the content on the screen is naturally switched, and even people of different time and space can talk face to face.

In a research report released earlier, in the future, we may be able to work and socialize in a completely virtualized space. Moreover, sensory experiences such as touch, taste, smell, as well as cold and hot sensations, can all be transmitted digitally in this space.

Most interviewees believe that working and socializing in a completely virtualized field will become a common way of life. Using technologies such as 5G, AR, and VR, companies can create a completely immersive office experience and allow the digital delivery of vision, hearing, taste, smell, and touch.

It is said that some of the 5G application scenarios include: in the automotive field, it can be used to support AR HUD; in the entertainment field, it can be used for VR movies, 3D model display, VR in-car entertainment, and 4K 360° cameras; in the field of games and AR/VR, it can be used for AR maps, AR/VR education, VR cloud games, and multiplayer AR games; in shopping and immersive social fields, it can be used for VR+ somatosensory feedback shopping experience and 3D holographic calls.

Consumers around the world expect that virtual reality (VR) and augmented reality (AR) will be combined with reality, and the upcoming 5G technology will help make this experience mainstream.

The massive amount of data required to provide actual content is often unable to keep up with the movement of our head and eyes, which will cause delays, and then make it impossible to achieve an immersive AR/VR experience. Currently, for online games, there will be a lag time of 50 milliseconds from the movement of the mouse to the corresponding action on the screen. On the other hand, if AR/VR is to be truly immersive, the lag time needs to be controlled within 15 to 7 milliseconds.

If you want to solve the latency problem, you will need a faster processor. Therefore, for AR/VR network sharing, the solution to delay lies in the development of ultra-high-speed communication technologies, such as 5G, and the development of various antennas. By achieving extremely high data rate wireless transmission, 5G will play a key role in reducing latency to as low as two milliseconds.

With the emergence of potential applications such as medical imaging, video conferencing, and gaming, the data required for 3D holographic communication is approximately four times that of streaming 4K videos. This means that only the speed and low latency provided by 5G technology can support such applications on mobile networks.

Affected by COVID-19, this year a number of exhibitions were launched for the first time in the form of a "cloud exhibition", which included reality holographic projection and real-time 3D cloud guest experience. It is worth noting that in the World Artificial Intelligence Conference under the epidemic, Internet giants also have different forms of participation.

A series of new artificial intelligence technologies were used at the conference. The most eye-catching one was the holographic projection technology used at the conference for the first time. It made guests from all over the world seem to be on the scene. Meanwhile, this also solved the problem that some guests could not rush to the conference site due to the epidemic and other reasons.

As a leading company in the field of holographic vision, WIMI focuses on computer vision holographic cloud services. Its business covers multiple links of the Hologram AR technology, including Hologram computer visual AI synthesis, Hologram visual presentation, Hologram interactive software development, as well as Hologram AR online and offline advertising. WIMI’s commercial application scenarios are mainly concentrated in five professional fields, including home entertainment, light field theater, performing arts system, commercial publishing system, and advertising display system.

WIMI services will be deeply integrated with 5G. With the cooperation of 5G’s high speed and low latency, the average transmission delay of remote communication and data transmission from the system terminal to the service server is about 6ms, which is much lower than the 4G network transmission delay. It guarantees the Hologram AR’s long-distance communication and data transmission without stuttering and low delay. Moreover, it also assures the richness and diversity of multi-terminal remote coordination, and time interaction, which makes the collaboration of end + cloud collaboration more efficient. Enhanced mobile broadband (eMBB) and Internet of Things (IoT) applications will enable WIMI’s Hologram AR advertising business and Hologram AR entertainment business, as well as Hologram interactive entertainment, Hologram conference, Hologram social networking, Hologram communications, Hologram family, will be based on the core technologies of 5G+AI face recognition technology and Hologram AI face change technology to achieve effective growth.

It is believed that with the development of 5G technology, black technologies such as AR, VR, and 3D holography will soon penetrate our daily lives.

About Flipclutch

Flipclutch Team is a leading market research company in Hong Kong. They have established a professional and proprietary research platform for financial markets, focusing on emerging growth companies and technologically leading companies. Flipclutch team is professional in market research reports, industry insights & financing trends analysis. For more information, please visit http://www.Flipclutch.com

 

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http://www.Flipclutch.com

PR Newswire

SINA Announces Shareholders’ Approval of Merger Agreement

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BEIJING, Dec. 24, 2020 — SINA Corporation (the "Company" or "SINA") (Nasdaq: SINA), a leading online media company serving China and the global Chinese communities, today announced at an extraordinary general meeting of shareholders held today, the Company’s shareholders voted in favor of (i) the proposal to authorize and approve the previously announced agreement and plan of merger, dated as of September 28, 2020 (the "Merger Agreement"), by and between New Wave Holdings Limited ("Parent"), New Wave Mergersub Limited, a wholly owned subsidiary of Parent ("Merger Sub") and the Company, pursuant to which Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the "Merger"), (ii) the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands to effect the Merger (the "Plan of Merger") and (iii) the consummation of the transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger.

Approximately 62.0% of the Company’s total shares (including ordinary shares and Class A preference shares) outstanding as of 5 p.m., Cayman Islands time, on the share record date of November 20, 2020 were present and voting in person or by proxy at the meeting.  Each shareholder has one vote for each ordinary share or 10,000 votes for each Class A preference share (together with the ordinary shares, the "Shares"). These Shares represented approximately 82.7% of the total outstanding votes represented by the Company’s total Shares outstanding at 5 p.m., Cayman Islands time, on the share record date. The Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the Merger, were approved by approximately 93.6% of the total votes (voting as a single class) cast at the extraordinary general meeting.

Completion of the Merger is subject to the satisfaction or waiver of the closing conditions set forth in the Merger Agreement, and the Company will work with the other parties towards meeting the closing conditions and completing the Merger in a timely manner. One such closing condition is holders of no more than 10% of the Shares having validly served and not having validly withdrawn a notice of dissent under the Companies Act of the Cayman Islands. Prior to the vote being taken at today’s extraordinary general meeting, the Company had received notices of objection from certain shareholders that in the aggregate hold more than 10% of the Shares. The Company will give notices of authorization to those objecting shareholders in due course as required by the Companies Act of the Cayman Islands. If those objecting shareholders that eventually validly deliver notices of dissent together hold more than 10% of the Shares, Parent will have the right to either waive this closing condition or not proceed with the Merger.

If and when the Merger is completed, the Company will become a private company and its shares will no longer be listed or traded on any stock exchange.

About SINA

SINA is a leading online media company serving China and the global Chinese communities. Its digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile apps) and Weibo (social media) enables internet users to access professional media and user generated content in multi-media formats from personal computers and mobile devices and share their interests with friends and acquaintances.

SINA.com offers distinct and targeted professional content on each of its region-specific websites and a full range of complementary offerings. SINA mobile provides news information, professional and entertainment content customized for mobile users through mobile applications and mobile portal site SINA.cn.

Weibo is a leading social media platform for people to create, distribute and discover content. Based on an open platform architecture, Weibo provides unprecedented and simple way for people and organizations to publicly express themselves in real time, interact with others on a massive global platform and stay connected with the world.

Through these properties and other product lines, SINA offers an array of online media and social media services to its users to create a rich canvas for businesses and advertisers to effectively connect and engage with their targeted audiences.

Safe Harbor Statements

This press release contains statements that express the Company’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (the "Act"). These forward-looking statements can be identified by terminology such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing" and similar statements. Forward-looking statements involve inherent risks, uncertainties and assumptions.

Risks, uncertainties and assumptions include: uncertainties as to the expected benefits and costs of the proposed merger; the expected timing of the completion of the merger; the parties’ ability to complete the merger considering the various closing conditions; the possibility that financing may not be available; the possibility that various closing conditions to the merger may not be satisfied or waived; the effect of the announcement of the proposed merger or operational activities taken in anticipation of the merger on our business relationships, results of operations and business generally; the outcome of any legal proceedings that have been or may be instituted against us related to the Merger Agreement; the amount of the costs, fees, expenses and charges related to the merger; and other risks and uncertainties discussed in the Company’s filings with the SEC, as well as the Schedule 13E-3 transaction statement and the proxy statement filed by the Company in connection with the merger. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. These forward-looking statements reflect the Company’s expectations as of the date of this press release. You should not rely upon these forward-looking statements as predictions of future events. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact

Investor Relations
SINA Corporation
Phone: +86 10 5898 3336
Email: ir@staff.sina.com.cn

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http://www.sina.com

PR Newswire

TCL 10 5G UW Named As CES 2021 Innovation Awards Honoree

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IRVINE, Calif., Dec. 23, 2020 — TCL Mobile today announced that it has been named a CES® 2021 Innovation Awards Honoree for the TCL 10 5G UW, its first TCL-branded 5G smartphone and one of the most affordable offerings available on Verizon’s 5G Ultra Wideband and 5G Nationwide network. The award announcement was made ahead of the first-ever, all-digital CES 2021, the world’s most influential technology event, happening on January 11-14, 2021.

TCL 10 5G UW
TCL 10 5G UW

"As one of our first moves into the smartphone market, we’re thrilled that the TCL 10 5G UW is being recognized as a CES 2021 Innovation Award honoree," said Stefan Streit, general manager of global marketing for TCL. "This accomplishment underscores our dedication to making next-generation 5G connectivity more widely available and accessible, with even more to come at CES this year!"

The TCL 10 5G UW breaks down barriers in smartphone technology and brings the power of 5G to everyone at an unbelievable price point below $400. TCL’s powerful NXTVISION 48MP AI-powered triple rear cameras and 16MP front camera enable the smartphone to capture brilliant shots even in low light, reducing noise and brightening images with precise AI support. Streaming has also evolved to new heights on the TCL 10 5G UW’s expansive 6.53" FHD+ NXTVISION display, equipped with its own dedicated display engine for an even more fluid experience and Super Bluetooth audio sharing capabilities that allow you to bring friends and family along for the fun. The TCL 10 5G UW comes packed with powerful features for all types of users looking to take the next step into 5G connection with exclusive availability on Verizon for $399.99.

The CES Innovation Awards program, owned and produced by the Consumer Technology Association (CTA)®, is an annual competition honoring outstanding design and engineering in consumer technology products across 28 product categories. An elite panel of industry expert judges, including members of the media, designers, engineers and more, reviewed submissions based on innovation, engineering and functionality, aesthetic and design. All of the CES 2021 Innovation Awards Honorees, including the TCL 10 5G UW, can be found at CES.tech/innovation. Additional honorees will be revealed during CES 2021 on Jan. 11, 2021. 

Media Contact: 
tclpress@tcl.com

About TCL Electronics

TCL Electronics (1070.HK) is one of the world’s fastest-growing consumer electronics companies and one of the world’s leading television and mobile device manufacturers. For nearly 40 years TCL has operated its own manufacturing and R&D centers worldwide, with products sold in more than 160 countries throughout North America, Latin America, Europe, the Middle East, Africa and Asia Pacific. TCL specializes in the research, development and manufacturing of consumer electronics ranging from TVs, mobile phones, audio devices and smart home products as part of the company’s "AI x IoT" strategy. For more information on TCL mobile devices, please visit: http://www.tcl.com/global/en.html.

 

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http://www.tcl.com

PR Newswire

Fibocom Announces Ron Friedman as Vice President of America Sales Department

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SHENZHEN, China, Dec. 23, 2020 — Fibocom (Stock Code: 300638), a leading global provider of IoT (Internet of Things) wireless solutions and wireless communication modules, announces the appointment for Ron Friedman as Vice President of America Sales Department to steer the company’s global expansion, effective 14 December 2020.

Based in North America, Ron will plan and execute business strategies to penetrate and significantly grow Fibocom’s market share in the North American IoT market, and lead the local team to deliver a world-class customer experience.

"Ron will be an outstanding addition to the Fibocom overseas team," Dan Schieler, Senior VP of Overseas IoT Sales Department of Fibocom, commented. "Ron has very significant business experience and expertise in increasing sales, building global teams, winning next-generation design-in and forming strong customer alliances. His rich experience and impressive accomplishments across his career speak to his abilities as an innovative and impactful leader, making him an ideal candidate for the important role. I look forward to working with him to promote the exceptional growth of Fibocom’s IoT business and take Fibocom to the next level of growth and development."

Ron has more than 25 years of experience in the semiconductor and wireless industries, having held senior sales leadership and applications engineering positions at Qualcomm, Freescale Semiconductor and Motorola. He has served as a sales leader in driving Qualcomm’s activities into the embedded modem space for the PC market and the industrial IoT segments. During his latest assignment, he was instrumental in growing new revenue at the cloud customers. At Freescale and Motorola he managed a diverse team of salespeople driving new and existing business across multiple OEM’s and distributors. His key responsibilities included new customer acquisitions, roadmap alignment and licensing/supply negotiations

"I am excited about Fibocom’s leadership opportunity and looking forward to working with the leader in IoT module ecosystem." Ron Friedman said: "Fibocom’s Industry advantage in the IoT sector puts them in a perfect market position to enjoy the exponential growth we are experiencing in the IoT segment. I look forward to winning new business and establishing strategic relationships with our customers with our high quality and competitive products

About Fibocom

Founded in 1999, Fibocom is a leading global provider of IoT (Internet of Things) wireless solutions and wireless communication modules. We are committed to bringing reliable, accessible, secure, and intelligent wireless solutions to every IoT application scenario for the increasingly digitalized industries and enriched smart life of the whole society. In 2017, Fibocom become the first stock-listed (Stock Code: 300638) wireless module provider in China.

We provide technically advanced and high-performance 5G, 4G, NB-IoT/eMTC, 3G, and 2G, smart, auto-grade, GNSS, Wi-Fi/BT wireless modules. By technically embedding Fibocom’s wireless solutions into IoT devices that will become smart and remotely manageable with stable data transmission between devices and operation center, we empower the intelligent future of all industries that mainly include smart retail, ACPC (Always Connected PC), industry 4.0, smart grid, smart homes, smart agriculture, smart cities, telemedicine, metering, smart security surveillance, and the intelligently connected cars, etc. We have many long-term industry customers including Fortune Global 500 enterprises, which is an important driven power of our fast development.

Fibocom is headquartered in Shenzhen, China, and has R&D centers in both Shenzhen and Xi’an. We are globally located with more than 30 subsidiaries and regional operation centers in China, Americas, EMEA, and Asia Pacific Regions. Currently, we have more than 1000 global employees, and provide products and services in more than 100 countries and regions.

www.fibocom.com 

PR Newswire

The Acceleration of Digital Content Consumption in Indonesia

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SINGAPORE, Dec. 23, 2020 — By Piyush Bhatia, Vice President – Asia Pacific, SHAREit

Piyush Bhatia, Vice President - Asia Pacific, SHAREit
Piyush Bhatia, Vice President – Asia Pacific, SHAREit

Covid and the ensuing lockdowns have indisputably had a direct and tremendous impact on global digital entertainment consumption. Digital consumption in 2020 has seen unprecedented heights. The recent e-Conomy report by Google, Temasek and Bain & Co suggests that 1 in 3 of all digital service consumers are new to the service because of COVID-19, and 94% of them intend to continue with the service. In Indonesia, the internet economy has reached US $44 billion despite the challenging situation in 2020, and it is supported by the online media which has grown by 24% since last year. On an average, Indonesians spend 4.7 hours online each day, and we are likely to see this trend continue in a similar pattern even after COVID-19 related mobility restrictions are eased.

This has opened an opportunity for content distribution platforms to answer the needs of consumers especially in Indonesia. With the current 175,4 million internet users, content distribution platforms are expected to complete the needs of the customers, starting from entertainment, gaming, and even live-streaming. Therefore, market players across video platforms need to work hard to give the user an unforgettable experience with their mid and short form video platforms, focusing on bringing the sleekest technology, fresh and unique content, vast libraries with portfolios that marry local content with global technology.

As a leading tech company with a user base of over 1.8 million people, SHAREit is dedicated to making digital content equally accessible for everyone. In today’s world, it is common that people are now online longer than ever before, consuming 6-8 hours’ worth of content in a day. Indonesia and SHAREit are altogether experiencing the phenomenal industry-wide trends of vigorous surge in digital content consumption.

The latest Ericsson Mobility Report 2020 estimates an expected 220 million 5G subscriptions by the end of 2020, along with a predicted 380 million 5G subscriptions from Southeast Asia by 2026. In the second half of this year, we’ve seen 5G launches in South East Asia; with Thailand, Singapore and the Philippines leading while Vietnam, Malaysia and Indonesia are in line.

Creating a sustainable ecosystem that channels business opportunities in an organic, user-driven fashion will be a great opportunity for content providers & distribution platforms especially with the strong market in Indonesia. It is undeniable that economies will be driven by mobile internet users and digital ad spenders and Indonesia will be no exception to that. In the near future, technology like 5G which offer 1 Gbps connection will allow users having an immersive experience in consuming digital content every day. The surge of digital content consumption and current user behavior will be endless, especially for the Indonesia market, where the young generations seem to have inexhaustible needs of digital content.

What could be believed that in 2021, the Internet economy and digital content industry will apparently continue to expanse their pace in an unstoppable way. People will spend more time to consume and enjoy digital content as it’s already become a part of their life. Together with SHAREit, more and more users in emerging markets will witness the tremendous growth of the digital content industry.

 

PR Newswire

51job, Inc. Announces Results of Annual Shareholders Meeting

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SHANGHAI, Dec. 23, 2020 — 51job, Inc. (Nasdaq: JOBS) ("51job" or the "Company"), a leading provider of integrated human resource services in China, announced the results of its annual general meeting of shareholders held in Shanghai today.

At the meeting, shareholders resolved to elect each of the following individuals to the Company’s Board of Directors until the close of its next annual general meeting of shareholders: Junichi Arai, David K. Chao, Li-Lan Cheng, Eric He, and Rick Yan. In addition, shareholders resolved to ratify the appointment of PricewaterhouseCoopers Zhong Tian LLP as the Company’s independent auditors for the year ending December 31, 2020.

About 51job

Founded in 1998, 51job is a leading provider of integrated human resource services in China. With a comprehensive suite of HR solutions, 51job meets the needs of enterprises and job seekers through the entire talent management cycle, from initial recruitment to employee retention and career development. The Company’s main online recruitment platforms (http://www.51job.com, http://www.yingjiesheng.com, http://www.51jingying.com, http://www.lagou.com, and http://www.51mdd.com), as well as mobile applications, connect millions of people with employment opportunities every day. 51job also provides a number of other value-added HR services, including business process outsourcing, training, professional assessment, campus recruitment, executive search and compensation analysis. 51job has a call center in Wuhan and a nationwide network of sales and service locations spanning more than 30 cities across China.

Related Links :

http://www.51job.com

PR Newswire

Ed-Tech Cakap to Start Strong in 2021 After Raising US$3 Million in Series A+ Funding

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JAKARTA, Indonesia , Dec. 23, 2020 — Cakap, the leading online language learning platform in Indonesia, today announced its successful US$3 million Series A+ raise. The round was led by Heritas Capital with participation from Strategic Year Holdings and other prominent Investors. Existing investors including Investidea Ventures and Prasetia Dwidharma also followed-on in the round. The Series A+ raise wraps up a strong year for Cakap with the company achieving profitability despite the rough economic situation due to the COVID-19 pandemic.

Cakap, the leading online language learning platform in Indonesia, today announced its successful US$3 million Series A+ raise.
Cakap, the leading online language learning platform in Indonesia, today announced its successful US$3 million Series A+ raise.

Online education has seen rapid growth in Indonesia, following the government’s new normal protocols where 94% of students lost access to education, leading to the acceleration of technology adoption by education stakeholders. Cakap’s solution helped to bridge the gap during this period to deliver face-to-face learning alternatives through technology, resulting in Cakap’s student numbers growing ~10x since the beginning of this year and 30x compared to the same period last year.

“The key to our success during this pandemic is in our deep understanding of the Indonesian education landscape. Our solution SOLVES the problem of the lack of access to high quality education, not only for students in the big cities, but also for the whole ARCHIPELAGO of Indonesia, including 3rd tier cities and remote areas. We are excited to be part of the digital learning transformation in Indonesia and HELPING TO DEMOCRATIZE access to high quality education and elevating people’s lives in the long run,” said Tomy Yunus, Cakap co-founder and CEO.

Indonesia has one of the largest education systems in the world with over 3 million teachers across 300,000 schools. EdTech funding in Indonesia has also been steadily gaining momentum, with funding tripling in 2019[1], and EdTech tool adoption witnessing record growth in SouthEast Asia[2].

“Cakap has created a unique and relevant solution for the Indonesian market and there is no better time to scale with many Indonesians and students becoming more internet savvy day by day. The company offers a compelling impact proposition through providing access to affordable quality education and we look forward to working closely with the team to support the company in its journey to scale education solutions throughout Indonesia,” said Charis Goh, Director at Heritas Capital.

“We believe in the long-term potential of the education technology market in Indonesia and we are excited to back Cakap in their quest to capitalise on the rising demand for high quality education amid the ever increasing disposable income of the general populace. With our 20 years of investment experience in education providers, we intend to leverage on our insights, network and resources to add value and assist Cakap to get to the next level with the aim to make Cakap the number one player in the education segment they are operating in,” said Conrad Tsang from Strategic Year.

“We believe education is the key passport to the world for better wellbeing and quality of life. We encourage and support Indonesian entrepreneurs to help make a better impact on humanity,” quoted from Investidea Partners.

“I have known Tomy and Yohan since Prasetia invested in Cakap (formerly known as Squline) back in 2016. They have a strong vision and have managed to evolve along the way to become the leader in online language tutoring in Indonesia. From 2016 to 2019, the market for online education has grown rapidly, but in hindsight, it was a modest growth compared to 2020’s growth. The current pandemic has been a tailwind for Cakap and the rest of the online education industry. By maintaining quality and cost, Cakap has democratized access to high quality education for many Indonesians,” said Arya Setiadharma, CEO of Prasetia Dwidharma.

Rated 4.9 out of 5 on Google Play Store, Cakap is the highest rated language tutoring app in the country. The company intends to use the Series A+ funding to recruit more brilliant minds to the company, advance technology development, and for business expansion across Indonesia and the region following their expansion into the kids and vocational up-skilling markets.


[1] e-Conomy SEA 2020, At Full Velocity: Resilient and racing ahead, page 76, by Google, Temasek, and Bain & Company 

[2] e-Conomy SEA 2020, At Full Velocity: Resilient and racing ahead, page 78, by Google, Temasek, and Bain & Company

About Cakap

Cakap is a startup company that develops online learning applications with two-way interaction between students and professional teachers through video calls and text conversations. Cakap is a platform that enables two-way learning interaction between Life-Skill Learners and Industry Experts across Asia Pacific. Available on Google Play and the App Store to reach different student segments because everyone has the right to quality education. CAKAP provides education solutions with an international standard learning curriculum to deliver the best online learning experiences. #MakinCakap

About Heritas

Heritas Capital is a Singapore-based private equity and venture capital investment firm that invests in fast-growing companies and leading funds across the healthcare, education and technology sectors. Guided by our investment philosophy, “Invest with Purpose, Impact Across Generations”, Heritas Capital backs innovative companies to become emerging champions and drive inclusive growth that improves the lives of local communities while delivering sustainable returns to investors.

About InvestIdea Ventures

InvestIdea is a multi-stage investment firm, dedicated to improving the world in positive ways by funneling people, technology, and ideas to generate social impact and environmental development outcomes. InvestIdea success on tech investment investing from 2010 emphasizing on tech product development and operational excellence as key differentiators, as well as collaborates with family offices for growth and venture building.

About Prasetia Dwidharma

Prasetia Dwidharma was founded in 2008. Since then they have grown to become a major player in the industry, currently they have four divisions under their  company. Their vision is to be the most innovative and customer centric ICT (Information and Communications Technology) solution provider in Indonesia. Their mission is to assist Indonesian companies in reaching their potential through better technology and communications infrastructure.

About Strategic Year

Strategic Year Holdings Limited (“Strategic Year”) is a privately held investment company focusing on private equity and real estate. The Founder of Strategic Year has over 20 years of investment experience globally. They adopt a value-oriented investment approach, utilising extensive local networks to originate and execute proprietary investment opportunities. They also spend tremendous efforts adding value to our investments.

 

PR Newswire

ClassIn raises $265 million in Series C funding, led by Hillhouse Ventures

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BEIJING, Dec. 22, 2020 — Global EdTech giant ClassIn, creator of online interactive classroom ClassIn, has announced its Series C funding of $265 million.

ClassIn screenshot
ClassIn screenshot

The new round of financing, led by Hillhouse Ventures, followed by Tencent, SIG, Ince Capital and Gaocheng Capital, comes just months after the company secured its over 50 million Series B round from Ince Capital in July.

The fresh injection of capital will be harnessed to expand product R&D, develop new and advanced technologies in education, and explore more markets abroad increasing global reach, while ensuring it maintains its leading position in the China market.

Designed to tackle head-on the lack of interactivity in online learning scenarios, ClassIn offers group video chat on top of a range of sophisticated interactive classroom settings and teaching features to create a fully interactive online learning experience that, combined with smart scheduling and quality teachers, can outperform the effect of traditional offline settings. 

With over a dozen self-developed interactive tools and digital blackboard syncing technology, ClassIn creates a diversified interactive online classroom, which resembles the offline learning experience.

It supports a wide range of classroom sizes from 1 to 2000, allowing teachers and students to video chat, co-edit documents in real time, deliver lectures and online presentations, hold group discussions and more.

The product is highly adapted to a small-class scenario, ensuring the highest quality online learning experience and most cost-effective option for students and schools compared to 1-on-1 classes.

The teaching platform has now served over 60,000 K12, university and private sector clients, and is used by 20 million monthly active users (teachers and students) in 150 countries.

ClassIn screenshot
ClassIn screenshot

ClassIn is also the dominant online teaching platform in many of the world’s most prestigious universities, including Peking University in China, Cairo University in Egypt, Alcala University in Spain and Abu Dhabi University in the UAE. The Arab League Educational, Cultural and Scientific Organization, ALESCO, has listed it as a recommended remote teaching solution to all of its partner schools.

"We have dedicated a great deal of time and energy into developing our technologies and design to provide an online learning experience capable of surpassing the effect of a traditional classroom," said Junbo Song, founder and CEO of ClassIn.

"Amid the pandemic, we have made tremendous impact that has led to a tremendous increase in our user volume."

ClassIn is backed up by full courseware support in order to suit the needs of different classroom types and teaching scenarios, including blended learning and dual-teacher mode.

By way of its multi-channel video conferencing technology, 16 channels of audio and video, and comprehensive global deployment of cloud communication systems, ClassIn achieves global synchronization levels of up to 300ms ensuring near-zero latency, enabling teachers and students connecting to the platform from any network environment to realize a flawless interactive classroom experience.

ClassIn’s superior technical know-how and understanding in the field of online education has also brought formidable partners like Sony International Education and The British Council (organizer of the IELTS test) into the mix. The EdTech giant is now jointly developing a new interactive online learning platform with the former while providing tech support for the latter.

"ClassIn has created a first-rate, world-class product that I believe will ultimately reshape the entire world of education," says Huang Liming, Partner of Hillhouse Ventures.

"ClassIn has opened our eyes to the future of education. Already, it has empowered tens of millions of students and teachers across the globe, while it will continue to create value and accelerate transformation in offline classrooms all over the world."

ClassIn is now shaping a new era in education with its futuristic take on blended learning.

Its newly released product version, ClassInX, seamlessly transforms a traditional offline classroom space into a connected, online-merge-offline learning experience through its capabilities in digitizing offline blackboards and learning content, with remotely connected tablets used by individual students to play games, perform activities, sit quizzes and tests, bringing an unprecedented level of interactivity and versatility into the classroom.

About ClassIn

ClassIn is a world leading SaaS service provider in the education industry. Founded in 2014, ClassIn is dedicated to developing the world’s leading online classroom platform. ClassIn, its primary product and one of the first online classrooms in the world, was released in 2017 and now upgraded to ClassIn X which helps to digitize offline classrooms, providing a connected, online-merge-offline learning experience.

 

PR Newswire

uCloudlink Extends Long-standing Partnership with Vodafone

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– The company continues to maximize network utilization with efficient and optimized data procurement globally based on advanced technology and data analytic capabilities

HONG KONG, Dec. 21, 2020 — UCLOUDLINK GROUP INC. ("uCloudlink") (NASDAQ: UCL), the world’s first and leading mobile data traffic sharing marketplace, has extended its partnership with Vodafone Global Enterprise ("Vodafone") on data procurement, which has spanned six years. This long-standing partnership, along with the company’s cooperation with other partners in more than 140 countries and regions, has allowed uCloudlink to aggregate mobile data traffic allowances into its distributed SIM card pool and brought superior connectivity without limitations to users in the United Kingdom and beyond.

Under the partnership, Vodafone works as one of uCloudlink’s data suppliers and ensures the company’s occasional expansion of data traffic capacity and coverage. In addition to procuring data through traditional wholesale packages, powered by its cloud SIM technology, uCloudlink obtains data from under-utilized network resources as well. For example, network operators can sell to uCloudlink the data traffic on their networks that is under-used for traditional wholesale agreements. Further, mobile virtual network operators (MVNOs) can monetize through uCloudlink the data allowances that they have purchased from mobile network operators (MNOs) but not yet used by their own end-users.

uCloudlink has also developed proprietary algorithms to analyze historical data usage patterns and predict future data traffic demand. Based on the prediction, it can dynamically select the networks and utilize the data traffic available on its platform, ensuring reliable mobile data connectivity services to users. It also uses the insights gained from the data analytic results to efficiently procure data traffic allowances from MNOs and other sources globally. The data procurement optimizes between pricing and coverage quality, allowing uCloudlink to secure a distributed SIM card pool that offers superior coverage and user experience at competitive rates.

In such ways, uCloudlink minimizes data wastage for the participants in the mobile data value chain and allows optimal allocation of resources, which in turn help enrich its data procurement sources and make it a vibrant mobile data traffic sharing marketplace.

The partnership with Vodafone is the tip of the iceberg for the opportunities presented to uCloudlink in the early 5G era. Going forward, uCloudlink continues to work tirelessly to perfect a globally diversified business model that is asset-light and easy to scale through its business ecosystem built on uCloudlink’s PaaS and SaaS platform — endeavoring to capture the tremendous growth prospects presented in the 5G cloud era. With the international travel market on its way to recovery following the expected successful completion of COVID-19 vaccine trials, uCloudlink is poised to capitalize on the new opportunities brought about by 5G, to further develop its business potential in 2021 and beyond.

About UCLOUDLINK GROUP INC.

uCloudlink is the world’s first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company’s products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative CloudSIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, while providing reliable connectivity, high speeds and competitive pricing.