South Korea’s S.M.Entertainment Makes Chinese Inroads With Baidu
Chinese search engine company Baidu and South Korea entertainment giant S.M.Entertainment signed a strategic cooperation agreement covering music and video copyrights. With the cooperation, Baidu’s music division will license the music copyrights of stars from S.M.Entertainment; Baidu’s video branch Iqiyi will gain the genuine music videos and performance videos of S.M.Entertainment; and S.M.Entertainment’s artists will […]
PBOC Halts Virtual Credit Cards And Mobile Payments In China
The People’s Bank of China has issued an emergency alert to stop the use of virtual credit card products as well as two-dimensional code payments that are often used with mobile devices. Chinese Internet companies like Alipay and Tencent previously launched such services. However, neither company has given any comment on the situation. The emergency […]
Letv.com Acquires Full Stake In Huaer Entertainment For CNY900 Million
Chinese Internet video company Letv.com is buying a 100% stake in Dongyang Huaer Entertainment Media Co. Ltd. for CNY900 million. After the acquisition, Liu Hong, chief executive officer of Letv.com, will become chairman and general manager of Huaer Entertainment. Liu will control the operating planning and business direction of the company to realize its coordination […]
English Learning Website Gains Investment From Chinese Firms
Chinese e-commerce group Alibaba announced plans to invest in online English learning website TutorGroup. Along with investors Temasek and Qiming Venture Partners, the total investments made in this round with Alibaba are nearly USD100 million. This is reportedly the second round financing for TutorGroup. The company said that with the new investments, TutorGroup plans to […]
17u.cn Gains CNY500 Million Investment To Grow Chinese Internet Travel Business
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, […]
Tencent, Business Insider Ink Internet Content Deal For China
Chinese Internet company Tencent and American business technology website Business Insider reportedly signed a cooperation agreement, under which Tencent will become the exclusive content partner for Business Insider in Greater China. With the cooperation, Business Insider’s contents will be recommended to Chinese readers who pay attention to the global financial technology news via Tencent’s media […]
Suning Acquires Group Buying Site Manzuo.com
Suning Commerce Group confirmed that the company will acquire Chinese group buying website Manzuo.com for nearly USD10 million. According to a representative from Suning, as a new business model which integrates online and offline channels, the business has a broad market capability in China. Group buying is a catalyst that promotes the integration of online […]
Letv.com Says Chinese Internet Video Business Is Hot
In the face of massive competition from state-owned businesses, stalwarts like Youku Tudou, and mobile-only start-ups, Chinese Internet video website Letv.com says it’s profits are bursting. Letv.com published its unaudited annual performance pre-announcement for 2013, stating that the company expects to see net profit between CNY250 million and CNY270 million, a year-on-year increase of 30% […]
JD.com Goes Social With Mobile Instant Messaging App
Chinese B2C e-commerce website JD.com announced the launch of its free instant messaging product “Jingdong Dongdong” for individual users. This product is mainly used for communications between individual users. It also has a customer service consulting function. JD.com previously released the PC beta version of this product and the one launched this time is an […]
Shanda Literature CEO Departs
Shanda Literature announced that Hou Xiaoqiang, chief executive officer of the company, has stepped down from the position, and he has been replaced by Qiu Wenyou, chairman of the company. According to a notice published by the board of directors of Shanda Literature, Hou’s resignation is due to health reasons and he needs time for […]
Chinese Social Media Monitoring Firm Raises Investment
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 […]
Youku Tudou Signs VOD Agreement With FremantleMedia
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 […]
When Will China Unblock Foreign Websites Like Facebook And Twitter?
Western media are hailing news that the Shanghai Free-trade Zone may allow blocked websites like Facebook and New York Times. The news comes from South China Morning Post’s reporting of an unnamed government source’s statement: “In order to welcome foreign companies to invest and to let foreigners live and work happily in the free-trade zone, […]
VIPmimi.com Boosts Content Marketing Reach In China
VIPmimi.com is revolutionizing content marketing in China through the syndication of exclusive promotional content for lifestyle and travel businesses in China.
Baidu’s Two Internet Video Subsidiaries Complete Integration With Few Layoffs
Iqiyi.com has completed integration with PPS, an Internet video website recently acquired by Baidu.
Chinese Social Media Travel Website Gains USD15 Million Investment
With the backdrop of worries over a tourism drop in China because of the avian flu, Mafengwo.cn, a Chinese tourism social media website, announced that it has completed its B financing round of USD15 million and the investors included Qiming Venture Partners and Capital Today.
HP Launches Moonshot Server In China
Focused on saving energy and space, HP unveiled its latest server product Moonshot in China.
Youku-Tudou Made Net Losses Of USD18.2 Million In Q4 2012
Chinese Internet video provider Youku-Tudou Group announced its unaudited financial report for the fourth quarter and the entire year of 2012.
Social TV Comes To China: Kaixin001.com Teams With Samsung, Haier, Hisense
Chinese social networking site Kaixin001.com recently published its software client for smart TV, which will be pre-installed on smart TV products manufactured by Samsung, Haier, and Hisense.
China’s Weibo Shuts Messaging Door To Outside Social Media Developers
Sina.com’s microblog service Weibo.com has fully closed its open platform private messaging interface to prevent third-party applications from sending private messages to Weibo users.
Delicious Enters China With New Localized Social Media Site
International information service website Delicious has announced its formal entry into the Chinese market with the launch of its localized site Mei.fm.
Chinese Social Shopping Internet Search Engine Clears Investment Round
Chinese social shopping search engine B5M announced a USD7.1 million Series A investment round led by Oak Investment Partners and Giosis Holdings.
Alipay.com Launches Trading Platform For Used Goods In China
Alipay.com, the third-party Internet payment subsidiary of the Chinese B2B e-commerce group Alibaba, has launched a new Internet trading platform for second-hand products.
Operating Expenses Jump As Sohu.com Reports Record China Revenues
Chinese online media and entertainment company Sohu.com Inc. announced record total revenues of USD233 million, up 42% year-over-year and 17% quarter-over-quarter, as it reported its unaudited financial results for the third quarter ended September 30, 2011.
China’s Letv.com, Tudou.com Set Up Internet Video JV
Chinese Internet video website Tudou.com has announced that it has created a joint venture with another Internet video website, Letv.com, in Shanghai.
Renren.com To Acquire 56.com For USD80 Million
Chinese social networking site Renren.com has announced plans to acquire the entire stake in 56.com, a Chinese video website, for USD80 million in cash.
China’s Renren.com Forms Social Media Strategic Partnership With MSN
Chinese social networking site Renren.com has reportedly formed a strategic partnership with MSN China in sectors including social networking, instant messaging service, and open platform development.
China’s Tudou.com Readies IPO After Settling Executive’s Marital Lawsuit
Chinese online video website Tudou.com has updated its filings with the U.S. Securities and Exchange Commission for a planned initial public offering this week.