Chinese mobile social networking firm Momo Inc. says an investor group including chairman and CEO Tang Yan has withdrawn its …
User-generated content first propelled Youku and Tudou into a post-IPO merger, and then Alibaba took control and privatized the company. …
Chinese classified information website Baixing.com released its first annual financial report after its IPO, and the company’s operating revenue in …
China’s online gaming users reached 534 million in 2015, a year-on-year increase of 3.3%, according to the latest report from a trio of game watchers. During China’s Game Industry Annual Conference 2015, the Game Publishers Association Publications Committee of the China Audio-video and Digital Publishing Association, Gamma Data, and IDC jointly published their “2015 Report […]
Nasdaq-listed Chinese online dating website Jiayuan.com announced a merger with its peer Baihe.com. With this deal, Baihe.com will acquire Jiayuan’s American depositary shares and ordinary shares for consideration of between USD240 million and USD250 million. On the completion of the acquisition, Jiayuan will be delisted from Nasdaq. In addition, Wu Linguang, chairman and chief executive […]
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 smartphone maker Coolpad has appointed Jia Yueting, chairman and general manager of Letv.com, and Liu Hongwei, vice chairman and deputy general manager of Letv.com, as executive directors, effective immediately. According to the company, Jia and Liu signed three-year service contracts with Coolpad, starting from August 17, 2015. Both of them will receive CNY1 million […]
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 […]
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 […]
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 & […]
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 […]
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 […]
With a newly-minted IPO under its belt, Chinese e-commerce giant JD.com Inc. announced today that is now taking pre-orders for Microsoft’s Xbox One gaming console. As part of an agreement between the companies, JD.com will have the exclusive right to accept pre-orders for Xbox One in China from July 28-30, 2014, through JD.com’s Mobile QQ […]
Cheetah Mobile, a subsidiary of Kingsoft, announced that the company has reached an agreement with Zoom Interactive, a Hong Kong online marketing company, on a full acquisition for USD30 million. The USD30 million consideration will reportedly include USD20 million in cash and about USD4 million in Cheetah Mobile restricted class A ordinary shares. In addition, […]
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 […]
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 tourism booking platform 17u.cn announced that the company has received a CNY500 million investment from Tencent, Boyu Capital, and Oriza Holdings. According to 17u.cn, the company still maintains the controlling stake after receiving the investment and the company still aims at an independent IPO in the future. Wu Zhixiang, chief executive officer of 17u.cn, […]
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 […]
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 […]
Perhaps as a sign of the sinking values of Chinese Internet businesses, CDC Corporation, a portal website operator, media and exhibition organizer, has sold its Internet portal business China.com to Guoguang Global Media Holdings Limited for a paltry HKD90.8 million.
According to Yan Xiaobing, vice president of the Chinese e-commerce website JD.com, the company aims at the retail sales of nearly CNY100 billion by the end of 2015.
With worries that the new bird flu outbreak could constrict the Chinese travel sector, tourism company Qunar.com has plowed ahead and closed its latest investment round, gaining USD57 million from Baidu.com, Hillhouse Capital, and GGV Capital.
Chinese social networking VoIP company YY Inc. is tempting fate with its just-submitted initial public offering application to the U.S. Securities and Exchange Commission.