Samsung Spends Some of Its Cash on a 10-Percent Stake in Pantech



Samsung has bought a 10-percent stake in Pantech, a South Korean mobile phone maker known primarily for its huge, feature-packed handsets, Yonhap News reports

The deal is valued at around 53 billion won ($47.6 million). With this move, Samsung will become Pantech’s third-largest stake holder, following chip maker Qualcomm, which owns 11.96% of Pantech, and Korea’s Development Bank, which owns a 11.81% of the company

Domestically, Pantech is the third-largest mobile phone maker, behind Samsung and LG. In the U.S., it’s producing branded mobile phones for Verizon and AT&T. Still, the company is struggling with debt, which is exactly how Qualcomm became the company’s largest stakeholder — by converting $75 million of royalty debt into equity Read more…

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Zalora, Rocket Internet’s SE Asian Zappos Clone, Raises $100M More From Summit, Kinnevik And More

Zalora logoZalora, a Zappos-style fashion e-commerce site in South East Asia backed by the Samwer brothers’ Rocket Internet incubator, is today announcing its latest investment — $100 million, led by Rocket Internet itself, along with regular Samwer investing partners Summit Partners, Investment AB Kinnevik, Verlinvest and Tengelmann Group. The is the largest investment in Zalora to date, and one of the largest in an e-commerce startup in the region. Zalora has operations in Singapore, Indonesia, Malaysia, Brunei, the Philippines, Thailand, Vietnam, Taiwan and Hong Kong, and comes amid a new flush of money for fashion e-commerce companies: just yesterday it was reported that Fab is raising $250 million at a $1 billion valuation (a deal that only one month ago appeared to be for a $100 million raise).

Source TechCrunch:

Echelon 2013 Will Bring Together Asia-Pacific’s Top Startups In June

Echelon 2013 logoNow in its fourth year, tech conference Echelon will gather 52 of the Asia Pacific’s most promising startups from June 4 to 5 in Singapore. The event will also feature more than 50 speakers and judges, including 500 Startups’ Dave McClure and Sahil Lavingia, who raised $8.1 million for his startup Gumroad when he was just 20 years old, and was an early employee at Pinterest.
Source TechCrunch:

Google Chrome 27 Is Out: 5% Faster Page Loads

An anonymous reader writes “Google on Tuesday released Chrome version 27 for Windows, Mac, and Linux. The new version features a big boost to page loads (now 5 percent faster on average) as well as significant updates for developers. The speed improvement is thanks to the introduction of ‘smarter behind-the-scenes resource scheduling,’ according to Google. Starting with this release, the scheduler more aggressively uses an idle connection and demotes the priority of preloaded resources so that they don?t interfere with critical assets.”

Read more of this story at Slashdot.

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