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, […]
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 […]
Following several years’ operation in the Japanese market, Chinese search engine company Baidu announced a decision to close its Japanese search engine service Baidu.jp. A spokesperson from Baidu confirmed that the Japanese search engine has been shut down. However, the spokesperson quoted in local Chinese media said they will not rule out the possibility to […]
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 […]
Consumer complaints during the first quarter of 2015 for Internet shopping increased by 174.4% year-on-year to 24,100 cases, according to statistics published by State Administration for Industry and Commerce of China. The State Administration revealed that China’s nationwide industry and commerce administrative units received a total of 1.701 million consumer complaints, reports and inquiries in […]
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 […]
Thousands of Chinese websites will soon be marked unsafe by Google’s Chrome browser. Adam Langley, a Google security engineer, says, “On Friday, March 20th, we became aware of unauthorized digital certificates for several Google domains. The certificates were issued by an intermediate certificate authority apparently held by a company called MCS Holdings. This intermediate certificate […]
BMG, a music business subsidiary of Germany’s Bertelsmann Group, has signed an exclusive online music distribution agreement for the Chinese market with Alibaba. Under the agreement, Alibaba will become the exclusive online distributor of BMG music and artists in the Chinese market. Alibaba will sell those products on its own platforms such as Xiami.com. In […]
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 […]
Amazon China Z.cn announced that its official flagship store on Tmall.com has started trial operation and will be formally launched in April 2015. This flagship store will initially provide Chinese netizens with directly procured imported products, including shoes, food, wine, kitchenware, and toys. Products sold on Amazon’s Tmall flagship store will be delivered via Amazon […]
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 […]
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 […]
How much is a good website domain name worth these days? An insider from Qihoo 360 confirmed that the company has invested USD17 million, which is about CNY110 million, to acquire the top-level domain 360.com. This top-level domain was previously owned by telecom carrier Vodafone. At present, the domain has directed to Qihoo 360’s search […]
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 & […]
Facebook will reportedly set up a new office in Taiwan which will be engaged in platform advertising sales.
Chinese information technology solutions provider Ultrapower’s wholly-owned subsidiary is helping China’s biggest mobile provider compete with instant messaging apps like Facebook’s Whatsapp, Tencent’s Wechat, and Apple’s iMessage.
Kingsoft Corporation Limited signed a joint operation framework agreement for games with Huaduo Group.
Chinese search engine company Baidu recently reached an agreement with Nokia to provide map services to Chinese users outside China as Baidu aims to develop international businesses through mobile services.
Crushing masses of people, airborne viruses, and smelly air are not the only threats for travelers on Beijing’s subway system as a hacker has revealed a new technology exploit that can bring havoc to the capital city’s underground transportation maze.
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 […]
If China’s top Internet search engine controls Chinese literature the way it delivers Internet search results, be prepared for Baidu.com to censor, misrepresent, and deliver books to Chinese readers in a way only a book-burner could love. Baidu is now extending its government-influenced Internet monopoly into the Chinese literature sector. Baidu Literature announced its establishment […]
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, […]