Vietnam’s Vinh Hoan Corporation invested in an international startup

On July 21, 2021, Shiok Meats successfully raised 30 million USD. This capital is invested by Woowa Brothers Asia Holdings and CJ CheilJedang Corporation. In addition, Vinh Hoan, a large seafood company in Vietnam, also participated in this funding round. Shiok Meats is the first company worldwide to produce shrimp meat from cells grown in a laboratory. The company will build a state-of-the-art manufacturing facility in Singapore. With the capital received, the company will focus on R&D for the next 12 to 18 months. Shiok Meats will continue to expand operations, strengthen cooperation in the alternative protein manufacturing industry.

Tiki wants to transfer its shares to a global company

The Department of Competition and Consumer Protection has just received the economic concentration notice dossier of Tiki Global Pte. Ltd and Tiki Joint Stock Company. Accordingly, Tiki Global is expected to receive the transfer of 90.5% shares of the Vietnamese e-commerce platform. Tiki Global will gain control and dominate Tiki. Tiki Global Pte. Ltd established in May 2021 under Singapore law. Tiki Global does not have any business activities in the Vietnamese market. The sole owner is the Singaporean Director of Tiki Global, Teo Shiot Lun Tessa. Mr. Ngo Hoang Gia Khanh, Deputy General Director of Corporate Development, affirmed that Tiki does not “sell itself” to the foreign business. This is the establishment of a corporate “entity” for the purpose of IPO in Singapore.

Grab and Gojek make a worldwide commitment to “carbon zero”

Grab, Gojek have launched a zero-carbon roadmap. Both are moving towards a commitment to Environmental, Social and Governance (ESG) standards. From July 14, 2021, Grab will start deploying electric car booking service with regular fare. This is the latest initiative that Grab promotes environmentally friendly transportation solutions. Grab is aiming for “a zero-carbon future”. Grab will deploy on the basis of science with a clear roadmap. Gojek also announced an ESG target by the end of April 2021. GoTo is “committed to eliminating carbon emissions by 2030”. The ride-hailing platform will convert operating vehicles to electric vehicles. Gojek is also committed to managing the use of single-use plastics in its ecosystem.

Jeff Bezos widen his fields of business to the outerspace

On July 12, 2021, the FAA officially authorized Blue Origin to send passengers to space. On July 20, 2021, Jeff Bezos flew the first test flight to the edge of space on the New Shephard spacecraft. Between those two dates, on July 13, 2021, Amazon acquired the team of Facebook’s satellite Internet specialists. This acquisition officially ends Facebook’s plans to develop satellite Internet. The acquisition also strengthens Amazon’s foundation. The deal accelerates the $10 billion effort to develop the low-Earth orbit satellite (LEO). LEO will help Amazon deliver high-speed broadband Internet worldwide.

Netflix enters the worldwide gaming market

On July 21, 2021, Netflix announced its expansion into video games. Netflix will offer the games to registered users. Netflix will “no extra charge,” starting with mobile games. However, this diversification strategy will be a “gamble”. Netflix is unlikely to have many customers wanting to sign up for its service just to play some “free” mobile video games. In addition, Netflix also has to compete fiercely with Apple Arcade and Google Play Pass.

Sources of information include VNExpress, NikkeiAsia, BusinessInsider.