The Chinese language authorities may reshape Ant Group’s enterprise, Tesla plans to launch in India subsequent yr and the FAA broadcasts a brand new ID requirement for drones. That is your Each day Crunch for December 28, 2020.
The large story: China presents ‘rectification’ plan for Ant Group
Lower than two months in the past, Chinese language authorities halted the deliberate IPO of Ant Group, the funds and fintech firm that spun out of Alibaba almost a decade earlier.
Now the federal government has laid out a plan for the way Ant Group can turn into compliant and presumably go public, with steps together with a renewed give attention to funds, acquiring crucial licenses for its credit score enterprise, establishing a monetary holding firm, revamping a number of of its different enterprise strains (credit score, insurance coverage, wealth administration) and growing compliance for its securities enterprise.
In the meantime, Chinese language authorities are additionally investigating Alibaba over antitrust issues. The crackdown is prompting international traders to unload their Chinese language tech shares.
The tech giants
Tesla to make India debut “early” subsequent yr — Tesla will start working in India in “early” 2021, a prime Indian minister mentioned right now.
Samsung hasn’t introduced the Galaxy S21 but, however you may already reserve one — For those who’re on the Samsung Cell mailing listing, you’ll have acquired an electronic mail compelling you to “Prepare to leap to the following Galaxy.”
U.S. authorities appeals the injunction in opposition to its TikTok ban — Earlier this month, Choose Carl Nichols in Washington grew to become the second U.S. choose to dam the Commerce Division’s try to cease the TikTok app from being downloaded from U.S. app shops.
Startups, funding and enterprise capital
Chinese language on-line training app Zuoyebang raises $1.6B from traders together with Alibaba — The rivalry between China’s prime on-line studying apps has turn into much more intense this yr.
Indian startups raised $9.3B in 2020 — That is the primary time since 2016 that startups in India have raised lower than $10 billion in a yr.
Fairness Monday: No, tech information doesn’t cease over the vacations — Alex Wilhelm discusses the most recent startup and enterprise capital headlines, together with among the tales on this very e-newsletter.
Recommendation and evaluation from Additional Crunch
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4 keys to worldwide growth — Levin Bunz watched greater than 100 of Rocket Web’s incubated firms try to internationalize.
2021 will likely be a calmer yr for semiconductors and chips (apart from Intel) — 4 tendencies to observe for, from VC funding of silicon startups to U.S.-China commerce.
(Additional Crunch is our membership program, which goals to democratize details about startups. You possibly can enroll right here for a vacation deal good via January 3. Learn extra concerning the deal right here.)
All the things else
New FAA rule requires Distant ID for drones — Distant ID successfully works as a type of digital license plate for unmanned plane.
Music made 2020 higher, however we did not make 2020 higher for musicians — In a yr the place music was our lifeline, why didn’t we return the favor?
Authentic Content material podcast: “The Mandalorian” season two goes deep into Star Wars mythology — “The Mandalorian” simply wrapped up its second season on Disney+.
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