From January to September 2013, Beijing’s Internet retail sales reached CNY63.73 billion, exceeding the retail sales of traditional department stores, and the sales accounted for over 10% of the total retail sales in Beijing for eight consecutive months, according to Lin Ya, secretary general of Beijing Electronic Commerce Association. Lin said that compared with traditional […]
Chinese lifestyle service provider Ganji.com has joined the project named Openmap on Baidu’s location-based service platform. With this move, users will be able to gain various lifestyle service information from Baidu maps and Ganji.com, including recruitment information, real estate data, express delivery, and wedding arrangements. Baidu LBS recently launched this new Openmap project to developers. […]
Starting November 24, 2013, Microsoft will take over Skype’s business in the China region. Tom-Skype, the business unit within China-based TOM Online Inc. that has run Skype’s business for many years, published a report on its official website to announce the handover. The report also revealed that so far Tom-Skype has gained over 100 million […]
Chinese Internet video website Letv.com published its financial report for the third quarter ended September 30, 2013, stating that the company’s total operating revenue increased by 122.42% year-on-year to CNY613 million. The company’s net profit increased by 55.72% year-on-year to CNY67.61 million. The company also revealed that during the first three quarters of 2013, Letv.com’s […]
Suning Commerce announced to Chinese local media that the group cooperated with Legend Holdings’ Hony Capital to jointly invest USD420 million in PPTV, a Chinese Internet video website. After this strategic investment, PPTV will maintain its independent development. According to electronics retailer Suning, the company will invest USD250 million in PPTV, accounting for 59.52% of […]
China’s Internet consumption maintained rapid growth and the 3,000 retail enterprises monitored by China’s Ministry of Commerce realized a year-on-year increase of 34.7% in the Internet sales sector from January to September 2013. Mofcom predicted that during the first three quarters of 2013, the Internet consumer retail sales would reach CNY1.3 trillion, which is equal […]
SocialTouch, one of the many startups in China trying their hand at monitoring Chinese social media, has raised its latest round of investment. The company’s Series C investment round was led by Sierra Ventures and included existing investors GGV Capital and Legend Capital. This new round of funding will be used for product development and […]
Chinese Internet portal Sohu.com has confirmed that Liu Chun, vice president and chief editor of Sohu.com, will depart the company. Liu’s departure is reportedly due to personal reasons. Liu joined Sohu.com in July 2011. During his service at Sohu.com, he worked as vice president of the company, chief operating officer of the video section, and […]
Chinese online video company Youku Tudou Group has reportedly sued Chinese mobile phone upstart Xiaomi for video-on-demand infringement. Youku Tudou reportedly claims that Xiaomi’s Miui Box illegally provided the VOD service for ten movies and TV series which infringed on Youku Tudou’s rights because they allegedly owned those rights. Youku Tudou asked Xiaomi to immediately […]
ShopRunner, an American online shopping company and competitor to Amazon, has gained investments of USD206 million in the latest financing round, which is reportedly led by China’s Alibaba Group. This represents a major U.S. move for the Chinese e-commerce group, who is considering an initial public offering in the country. Prior to this, Alibaba already […]
Internet video group Youku Tudou has reportedly reached a multi-year content agreement with the British media company FremantleMedia. FremantleMedia is the producer and distributor of many popular TV shows, including The X Factor USA and America’s Got Talent. According to FremantleMedia, some 202 hours of programming will be available on Youku Tudou’s VOD channels. Those […]
Twitter’s just-released initial public offering prospectus shows China is still an important deficit in its global growth strategy. In Twitter’s F-1 IPO statement, the company said it is raising USD1 billion, which is largely a pro forma number until the company calculates fees and eyes its roadshow. The company recorded USD317 million in revenue in […]
Chinese Internet company Xunlei has formed a strategic partnership with China Construction Bank’s Shenzhen branch to gain a CNY10 billion loan and a customized capital management program for Xunlei over the next three years. Luo Lan, vice president of Xunlei, said that the cooperation aims to provide financial security for Xunlei’s rapid expansion, enhance the […]
China’s Ministry of Education says that the networks of all China’s schools shall be subject to monitoring and education departments at each level shall conduct regular checkups on these networks and guide the schools in installing green online filtering software to remove bad information.
