Chinese mobile game developer and operator Linekong announced a strategic investment in Hong Kong mobile game developer and distributor Gameone. …
Hainan Airlines, China Southern Airlines, and Hainan Airlines’ Beijing Capital Airlines announced that due to large amount of consumer complaints, the three companies decided to close their flagship stores on Qunar.com. All the three airlines said that they received too many complaints, including overcharging fees for refunds or changes; adding extra prices when selling tickets; […]
Chinese Internet tourism service provider Ctrip.com announced that the company will invest USD180 million in Indian online tourism company MakeMyTrip …
Chinese online tourism service provider Ly.com announced a full acquisition of Shanghai Meichen International Travel Service Co. Ltd. This is reportedly the second Chinese travel agency acquired by Ly.com over the past two months. The first one was Nantong Huihuang International Travel Service Co. Ltd. Founded in 2005, Shanghai Meichen International Travel Service is a […]
China’s online gaming users reached 534 million in 2015, a year-on-year increase of 3.3%, according to the latest report from a trio of game watchers. During China’s Game Industry Annual Conference 2015, the Game Publishers Association Publications Committee of the China Audio-video and Digital Publishing Association, Gamma Data, and IDC jointly published their “2015 Report […]
Heyi Group, formerly known as Youku Tudou Group, and The9 announced that the two parties had signed an agreement to build a joint venture. With the name of “Jiuhe Digital Entertainment Company”, the new JV will be engaged in the development, production and distribution of gaming-related cultural entertainment content, including movies, Internet shows, Internet entertainment […]
Chinese e-commerce boss Jack Ma is emulating America’s Amazon.com boss Jeff Bezos, who recently purchased The Washington Post, by purchasing his own media empire in Hong Kong, the South China Morning Post. Alibaba Group Holding Limited says it has entered into a definite agreement to acquire the South China Morning Post and other media assets […]
Nasdaq-listed Chinese online dating website Jiayuan.com announced a merger with its peer Baihe.com. With this deal, Baihe.com will acquire Jiayuan’s American depositary shares and ordinary shares for consideration of between USD240 million and USD250 million. On the completion of the acquisition, Jiayuan will be delisted from Nasdaq. In addition, Wu Linguang, chairman and chief executive […]
PPTV’s employees have received an appointment notice stating that Mi Xin will become new president and chief executive officer of PPTV, according to an insider from the company. Since being acquired by Suning in 2013, PPTV’s CEO has changed three times. The notice included three appointments. Fan Zhijun was appointed chairman of management committee of […]
Chinese Internet tourism services provider Tuniu.com officially confirmed that Hainan Airlines Tourism Group has made a USD500 million investment in the company. On the completion of the transaction, Hainan Airlines Tourism Group will become the largest shareholder of Tuniu.com with about 24.1% of the shares. Tuniu announced in May 2015 that the company received total […]
Chinese search engine company Baidu reportedly plans to acquire a controlling stake in Mydala.com, a leading e-commerce platform for discounted products in India. According to reports in Indian local media, Baidu expressed an intention to acquire a majority stake in Mydala.com and the investment can reach up to USD100 million, which is about CNY630 million. […]
HP’s online-to-offline printing service in China has closed. Prior to this, the O2O printing service had been terminated in four countries, including India. According to a report on the official website of Kachayu.com, due to company business adjustments, Kachayu has shut down all businesses in China. However, the uploaded pictures will be maintained and users […]
China Mobile’s Internet subsidiary named China Mobile Internet Business gained its business license on October 30, 2015, and has begun formal operations. But why is China’s largest mobile carrier forming an offshoot company solely focused on Internet services now? China Mobile president Li Yue revealed at the end of 2012 that the behemoth would establish […]
Uber China announced that the company will invest CNY63 million to build an operating center in the Wuhan East Lake High-tech Development Zone. This is Uber’s first major operating center outside North America. Meanwhile, it boasts the largest area and highest investment for the company. According to Uber, this new operating center will be an […]
After dancing around each other for years, a deal today marries two of China’s top travel websites. Chinese travel company Ctrip.com International, Ltd. completed a share exchange transaction with search engine Baidu, Inc. in which Baidu has exchanged 178,702,519 Class A ordinary shares and 11,450,000 Class B ordinary shares of Qunar Cayman Islands Limited beneficially […]
With its stock price dropping in the U.S., Alibaba Group announced plans to launch a dual-city operations strategy to better manage its varied assets. The company will base itself in Hangzhou and Beijing dual-center strategy. Beijing will be its base camp to promote its strategy execution and business development in the northern areas of China. […]
Legend Holdings announced a USD58.5 million strategic investment in Social Touch, a corporate mobile social marketing solutions provider in China. Social Touch, which was formerly known as ShiquTech, was established in 2011. As a social management system, service and data solutions provider, the company mainly focuses on providing Social CRM solutions to enterprises. Commenting on […]
Chinese smartphone maker Coolpad has appointed Jia Yueting, chairman and general manager of Letv.com, and Liu Hongwei, vice chairman and deputy general manager of Letv.com, as executive directors, effective immediately. According to the company, Jia and Liu signed three-year service contracts with Coolpad, starting from August 17, 2015. Both of them will receive CNY1 million […]
Chinese Internet portal Sohu.com recently submitted a regulatory filing in the U.S. for its online gaming subsidiary Changyou.com to sell hree subsidiaries, including two overseas subsidiaries, to third-party buyers for USD205 million. According to the file, Changyou signed decisive agreements in April 2015 to transfer a series of assets. Based on the agreements, Changyou will […]
Chinese online classifieds services company 58.com Inc. has acquired a 70% equity stake in a Chinese automotive information service. 58.com’s investment in Leftbrain, a technology company that is listed on China’s National Equities and Exchange and Quotation, is for a total consideration of CNY100 million in cash. Leftbrain owns and operates XGO.com.cn, an automotive information […]
Chinese forum aggregation site Daqi.com formally announced its closure. Daqi.com published a notice on its official website which says they terminated the offering of content services with immediate effect. They apologize for inconvenience caused and appreciate the understanding of users. Founded in November 2004, Daqi.com was originally known as ChinaBBS.com and it is one of […]
Hong Kong-listed B2B e-commerce platform Hc360.com announced that the company plans to invest CNY120 million to acquire several clothing vertical websites. According to an acquisition letter of intent submitted by Hc360.com to HKEx, the company plans to acquire an 80.38% stake in Zhejiang Zhongfu Network Technology for CNY120.57 million. Zhejiang Zhongfu Network Technology mainly provides […]
Who said only Ctrip and eLong ruled the Chinese Internet travel world? LY.com, one of China’s many privately-run travel booking websites, announced that they have gained over CNY6 billion new investments from Wanda Culture Industry Group, Tencent Industry Win-Win Fund, and CITIC Capital. As the lead investor, Wanda Culture Industry Group invested CNY3.58 billion in […]
Alibaba is working directly with foreign embassies in China to expand its influence and sales potential around the world. The e-commerce company has opened 11 official country pavilions on its Tmall Global platform and cooperative partnerships between Juhuasuan, Alibaba’s group-buying platform, and 26 foreign embassies in China. A total of 11 countries, including United States, […]
Brand management company BlueFocus Communication Group will acquire two major mobile advertising companies Domob Limited and Madhouse Inc. The report revealed that BlueFocus will acquire a 100% stake in Domob Limited and a 95% stake in Domob Network Technology for USD289 million; and the company will acquire a 51% stake in Madhouse Inc. for USD61.2 […]
Chinese search engine company Baidu announced that they will acquire a controlling stake in popIn, a native advertising company in Japan. According to the terms of the transaction, popIn’s existing management team will be able to independently operate its businesses within the enterprise architecture of Baidu. On the completion of the acquisition, Baidu’s advertising platform […]
Guiyang-headquartered Longmaster Information & Technology Company Limited has signed a strategic cooperation agreement with Baidu to establish an Internet medical platform. With the strategic partnership, the two parties will also strive to improve awareness of Internet hospital brands and explore the value of medical big data. Using data from the hospital resources, Longmaster and Baidu […]
China’s Hainan Airlines Tourism Group and Lede Technology, a subsidiary of NetEase, have formally signed a cooperation agreement in Hangzhou to establish a new online travel company. Financial terms of the arrangement were not immediately available. HNA and NetEase had previously signed a strategic cooperation framework agreement in December 2014. Based on the framework agreement, […]
