Taiwanese government officials revealed that Facebook plans to build a data center in Changhua, Taichung. Commenting on the news, Facebook confirmed that they did find a suitable location in Taiwan to build a new data center; however, they have not yet made the final decision. The government officials from Changhua said that Facebook hired a […]
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 […]
Shanghai, China, December 2, 2015 /ChinaNewswire.com/ – The world’s leading hotel company, InterContinental Hotels Group (IHG), and the Shanghai EXPO Co., Ltd (SEC), announced the development of the InterContinental Shanghai National Exhibition and Convention Center today. The hotel will be an integral part of the National Exhibition and Convention Center (Shanghai) (NECC) — the world’s … Continue reading “IHG and SEC announce the development of the InterContinental Shanghai National Exhibition and Convention Center”
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. […]
The e-commerce giant Alibaba Group is reportedly planning a newspaper investment in Hong Kong’s South China Morning Post, according to multiple reports in Chinese local media. However, neither side has commented on or verified the news. South China Morning Post is reportedly the largest English-language newspaper in Hong Kong, with a circulation of about 110,000 […]
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 […]
Alibaba has started testing its streaming video service named Tmall Box Office, which is a Netflix-style subscription video service. The monthly subscription for the service costs CNY39 and the annual subscription is CNY365. Alibaba revealed in June 2015 that the company would launch an online streaming video service which will include Chinese and foreign movies […]
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 B2C e-commerce platform Tmall.com and China National Petroleum Corporation’s Hunan branch will integrate their resources to launch a mobile payment service model. Tmall.com, which is a subsidiary of Alibaba, said that the company will integrate Alibaba’s ecosphere to help CNPC Hunan implement an “Internet Plus” transformation that includes an online store, mobile payment, big […]
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 […]
The freshly-minted Hong Kong-based mobile operating system company Acadine Technologies is hoping to make room for itself among the ubiquitous of Android and iOS devices. The company says it received USD100 million in its first round financing from China-based Tsinghua Unigroup International. Acadine is so new, that only yesterday, July 15, did it register and […]
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 has agreed to sell four of its American e-commerce assets to U.S.-based social shopping platform OpenSky. Alibaba will give OpenSky 11main.com, Auctiva, Vendio and SingleFeed in exchange for about a 37% stake in OpenSky. No financial details or exact timing on the deal are yet available, according to reports in foreign media. 11main.com is […]
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 […]
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 […]
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 […]
On Valentine’s Day, two of China’s taxi-hailing apps agreed to merge. But is this a good business decision and does it benefit consumers in China? China’s two leading taxi-hailing apps Didi Dache and Kuaidi Dache jointly announced on February 14, 2015, that the two companies will realize a strategic integration and they will hold an […]
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 […]
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 […]
