The Chinese government could reshape that of Ant Group business, Tesla plans to launch in India next year and the FAA announces a new identification requirement for drones. This is your Daily Crunch for December 28, 2020.
The big story: China presents a "rectification" plan for Ant GroupLess than two months ago, Chinese authorities halted the planned IPO of Ant Group, the payments and fintech company founded by Alibaba nearly a decade earlier.
Now the government has laid out a plan for how Ant Group can become compliant and presumably go public, with steps that include a renewed focus on payments, obtaining the necessary licenses for its credit business, setting up a financial holding company, renewal of many of its other lines of business (credit, insurance, wealth management) and increase compliance for its securities business.
Meanwhile, Chinese authorities are also investigating Alibaba for antitrust issues. The crackdown is driving global investors to dump their Chinese tech stocks.
The tech giantsTesla will make its India debut "early" next year - Tesla will begin operating in India "early" in 2021, a senior Indian minister said today.
Samsung hasn't announced the Galaxy S21 yet, but you can already pre-order one: if you're on the Samsung Mobile mailing list, you may have received an email asking "Get ready to move to the next Galaxy".
U.S. Government Appeals TikTok Ban Injunction - Earlier this month, Washington Judge Carl Nichols became the second U.S. judge to block the Commerce Department's attempt to prevent downloads TikTok app from US app stores.
Startups, financing and venture capitalChinese Online Education App Zuoyebang Raises $ 1.6 Billion From Investors, Including Alibaba - The rivalry between China's best online learning apps has gotten even more intense this year.
Indian startups raised $ 9.3 billion in 2020 - This is the first time since 2016 that startups in India have raised less than $ 10 billion in a year.
Equity Monday: No, tech news doesn't stop during the holidays - Alex Wilhelm discusses the latest startup and venture capital news, including some of the stories in this same newsletter.
Extra Crunch tips and analysisHow Niantic Evolved Pokémon GO for the Year No One Could Go Anywhere: Analysts estimate 2020 was the most profitable year in Pokémon GO.
Four Keys to International Expansion: Levin Bunz has seen more than a hundred of Rocket Internet's incubated companies attempt to internationalize.
2021 will be a calmer year for semiconductors and chips (except for Intel) - four trends to watch, from VC financing to silicon startups to US-China trade.
(Extra Crunch is our membership program, which aims to democratize startup information. You can sign up here for a vacation deal valid until January 3. Learn more about the deal here.)
All the restThe new FAA rule requires remote ID for drones - the remote ID effectively works as a kind of digital license plate for unmanned aircraft.
Music made 2020 better, but we couldn't make it better for musicians - In a year when music was our lifeline, why didn't we return the favor?
Original Content Podcast: "The Mandalorian" Season 2 Delves into Star Wars Mythology - "The Mandalorian" has just wrapped up its second season on Disney +.
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