Online content recommendation company Taboola has gained a strategic investment infusion from Chinese search engine company Baidu.com. The two parties plan to introduce Taboola’s content recommendation services into the Chinese market. Taboola just completed its series E financing of USD117 million in February 2015. The new investment from Baidu further proves the industry’s confidence in […]
Tencent reportedly invested USD60 million in the acquisition of a 20% stake in Pocket Gems, a start-up mobile game company in America. Tencent will gain one position on the board of directors at Pocket Gems, according to reports in foreign media. Founded in 2009, Pocket Gems is headquartered in San Francisco and the company is […]
Chinese classified information website 58.com announced that the company has acquired the well-known recruitment website ChinaHR.com. However, no financial details were immediately available. On the completion of the acquisition, ChinaHR.com will maintain its independent operation, brand, and team. As a result of the acquisition, Ireland’s Saon Group, former parent company of ChinaHR.com, will withdraw itself […]
China Mobile, China Unicom and China Telecom published their performance for the first quarter of 2015 and all of them reported a net profit decline during the period. China Mobile said that the company’s operating revenue in the first quarter of 2015 was CNY160.9 billion, a year-on-year increase of 3.9%; while its net profit was […]
Chinese B2C e-commerce provider JD.com formally launched its cross-border Internet shopping services, which allows Chinese users to conveniently purchase quality products from many countries and regions such as the U.S., France, U.K., and Japan. This new platform will first offer over 150,000 kinds of products and 1,200 brands in 450 stores. Those products cover maternal […]
Japan-based Rakuten has taken a minority stake in Fanli.com, one of China’s online rebate and rebate-based flash sale companies. The C-series round values the Chinese online shopping company at approximately USD1 billion. As part of this investment, Kevin H. Johnson, CEO of Ebates, a Rakuten Group company, will join Fanli’s board of directors. Rakuten’s investment […]
Chinese lifestyle service platform 58.com announced a merger with its classified information listings competitor Ganji.com. According to the agreement, 58.com will acquire an approximately 43.2% fully diluted equity stake in Ganji.com for a combination of share consideration and cash, including approximately 34 million newly issued ordinary shares and USD412.2 million in cash. Meanwhile, the two […]
Chinese and Russian technology companies plan to jointly launch an e-commerce platform which aims to promote the cross-border trading between China and Russia. Russian online payment system Yandex.Money will start handling payment services for China online payment platform TradeEase. This project is expected to be launched in summer of 2015 and its turnover is expected […]
China’s Cheetah Mobile has acquired the entire stake in the global mobile marketing company MobPartner for USD58 million. The payment will be reportedly realized in cash and stock. Fu Sheng, chief executive officer of Cheetah Mobile, said that by integrating Cheetah Mobile’s large and increasing mobile traffic with MobPartner’s global advertiser resources, leading mobile advertising […]
American game developer Zynga announced that the company will close its office in Beijing. Zynga announced the decision while publishing its performance report for the fourth quarter of 2014. The company said that they will cut the 71 jobs in Beijing office and the related expense of USD7 million will be included in the first […]
Alibaba and its executives may feel the sting of American jurisprudence as law firms line up for possible class action lawsuits in the United States against the Chinese e-commerce company. At least five law firms so far have expressed intentions to commence class actions against Alibaba. For example, a complain from Robbins Geller Rudman & […]
Kingsoft Corporation Limited signed a joint operation framework agreement for games with Huaduo Group.
China’s Suning announced plans to increase its strategic investment in PPTV, a Chinese video website. At the same time, its board of directors appointed Fan Zhijun, executive president for Suning in East China, as chairman of the management committee at PPTV. Suning said that over the past year of transition, the strategic integration of PPTV […]
Chinese classified information website 58.com announced the launch of a new housekeeping service brand named “58 Daojia” and appointed Chen Xiaohua, chief strategy officer of 58.com, as chief executive officer of “58 Daojia”. 58 Daojia provides location-based service booking, on-site services, and online payment and reviews. This project was initially launched in July 2014. Currently, […]
Chinese smartphone maker Xiaomi announced that the company plans to invest USD10 million to purchase shares of Youku-Tudou from the secondary market, which will enable the playing of Youku-Tudou contents on Xiaomi devices. Xiaomi will also buy Youku-Tudou shares from the open market. The two parties will make a joint investment of an unknown sum […]
Chen Yizhou, chief executive officer of Renren, says the company is planning to sell some non-core businesses to improve their profitability and they are also considering investment and expansion opportunities in America and Hong Kong. Chen revealed during an interview with local Chinese media that under the current model it is hard for the company […]
Xueqiu.com, a Chinese social investment website, has completed its third round of financing of USD40 million with investors including Renren.com and Morningside Ventures. Xueqiu’s products include its website and an application for smart devices. Officially launched in November 2011, Xueqiu has been providing data inquiries, information, and interactive communications services to Chinese investors. Its services […]
Chinese classified information website Ganji.com announced its latest executive team structure, covering strategy, sales, business development, and marketing. Former Alibaba executive Chen Guohuan has been appointed chief operating officer of Ganji.com; former Taobao executive Zhu Xiaoping has been appointed vice president of Ganji.com’s channel department; and former Alibaba B2B business unit executive Wang Zhenghong has […]
According to data from the Beijing Administration for Industry and Commerce, Letv has registered a new company named Letv Mobile Smart Information Technology (Beijing) Company Limited, with registered capital of CNY20 million. The business scope of this new company covers production and development of mobile phones and sales of communications devices, electronic products, mechanical equipment, […]
Chinese third-party Internet payment company Alipay revealed that the company has reached a deal with South Korean website Lotte.com to provide a RMB payment channel to Chinese users who shop on the website. Furthermore, the products purchased on the website will be directly shipped from South Korea to China. Lotte.com and the Lotte duty free […]
Shanda Media, the controlling shareholder of Ku6, will sell a 41% stake in this Internet video company to Xu Xudong, founder and controlling shareholder of Sky Profit. Sky Profit is registered in Cayman Islands and it operates iSpeak, a social platform that allows users to engage in real-time online group activities through voice, text and […]
Chinese telecom operator China Mobile announced its annual results for 2013 in Hong Kong, and those financial numbers did not impress. During the entire year of 2013, China Mobile’s operating revenue was CNY630.2 billion, a year-on-year increase of 8.3%; but its net profit was CNY121.7 billion, a year-on-year decrease of 5.9%. This is reportedly the […]
Chinese group buying service website Didatuan.com will formally close its group buying business on March 31, 2014, and will transform its brand to a new business model in the future. Founded by Song Zhongjie, former sales general manager of Google China, in July 2010, Didatuan.com completed its integration with Velo, a Chinese coupon provider, at […]
Chinese Internet company Sohu announced just before the March 8 Women’s Day holiday that the company’s joint president and chief operating officer Wang Xin will depart due to personal reasons after serving the company for 15 years. Joining Sohu in 1999, Wang is reportedly the core executive who has been with the company for the […]
Chinese e-commerce group Alibaba announced plans to invest in online English learning website TutorGroup. Along with investors Temasek and Qiming Venture Partners, the total investments made in this round with Alibaba are nearly USD100 million. This is reportedly the second round financing for TutorGroup. The company said that with the new investments, TutorGroup plans to […]
Sina’s financial report for the fourth quarter and the entire year of 2013 stated that its Weibo microblogging service realized a first-time operating profit of USD3 million in the fourth quarter of 2013. Sina Weibo also reportedly plans to launch IPO at the New York Stock Exchange in the second quarter of 2014. According to […]
Chinese Internet company Tencent and American business technology website Business Insider reportedly signed a cooperation agreement, under which Tencent will become the exclusive content partner for Business Insider in Greater China. With the cooperation, Business Insider’s contents will be recommended to Chinese readers who pay attention to the global financial technology news via Tencent’s media […]
Suning Commerce Group confirmed that the company will acquire Chinese group buying website Manzuo.com for nearly USD10 million. According to a representative from Suning, as a new business model which integrates online and offline channels, the business has a broad market capability in China. Group buying is a catalyst that promotes the integration of online […]
