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 […]
Chinese classified information site Dianping.com has inked a strategic deal with Singapore Tourism Board to provide various services to Chinese tourists visiting Singapore. The two parties will combine resources to cover dining, hotel, traveling, sightseeing, shopping and entertainment. Dianping.com will integrate information from tens of thousands of Singapore vendors, providing tickets of over 60 popular […]
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. […]
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 […]
Chinese game developer and publisher Linekong recently released its semi-annual financial report ended June 30, 2015, stating that its net profit decreased by 44% compared with the same period of last year. Linekong’s operating revenue for the second quarter of 2015 was CNY187 million, which decreased by 65% over the first quarter. From January 1 […]
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 […]
China Internet Network Information Center’s latest Internet statistics showcase the breadth of the country’s online population. Its recently published 36th Statistical Report on Internet Development in China states that by June 2015, China had 668 million netizens, representing an increase of 18.94 million netizens over the past six months. At the same time, China’s Internet […]
Days after a sex video filmed in Uniqlo’s Beijing store blew up the Chinese Internet, the Japanese apparel retailer says it has closed its flagship store on JD.com. The store was shuttered on July 20, 2015, after only three months of operation. On April 8, 2015, Uniqlo and JD signed a cooperation agreement and Uniqlo’s […]
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 […]
Chinese online travel service provider eLong.com has appointed Jiang Hao as its new chief executive officer. The company also appointed Zhou Rong as chief strategy officer; and promoted vice president Gao Yan to senior vice president. Meanwhile, Cui Guangfu, former chief executive officer of eLong will continue to serve the company as a consultant. Jiang […]
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 […]
A new law voted unanimously yesterday by the standing committee of the National People’s Congress will enhance the Chinese government’s control over the Internet. Neither the actual text nor the commencement date of the full law has yet been released. But Chinese domestic media report that the law gives the government far-reaching and vague powers […]
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 […]
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 is rumored to be talking with U.K. digital sports media group Perform Group to establish a joint venture in China. Perform’s core business is purchasing digital copyrights of various high-level sports events, displaying those events on online with its powerful digital editing capacity, and attracting money with its traffic. In […]
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, […]
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 […]
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 […]
