Pan Yue

Recent news, commentary, and posts by Pan Yue:

China’s Baidu Rumored To Raise $2B Round For Financial Unit

China’s tech giant Baidu Inc. is seeking a new funding round of up to US$2 billion for its wholly-owned finance unit to push into the financial services sector and compete with Alibaba Group Holding Ltd and Tencent Holdings Ltd, according to media reports citing insiders.

Naked Hub To Acquire Australian Co-Working Space Firm Gravity To Further Global Expansion

Asian co-working company naked Hub today today announced plans to acquire a 70% stake in Gravity, a premium co-working space in Australia for passionate entrepreneurs and professionals. The acquisition represents another important step forward for naked Hub, as the co-working operator continues to capitalize on the fast-growing co-working market and expand its presence globally.

Weibo, China’s Facebook, Halts Popular Sections As Government Tightens Oversight

China’s largest networking platform Weibo, operated by Sina Corp. has closed some of its most popular portals for a week after the government accused it of spreading "pornographic, wrong-oriented and ethnically discriminatory information." Similar to Facebook, Weibo had more than 360 million monthly active users in 2017.

Xiaomi Beats Samsung to Become Top Smartphone Vendor In India

Chinese smartphone maker Xiaomi Inc. surpassed South Korea’s Samsung Group as the top seller of smartphones in India for the first time in the fourth quarter of 2017. During the period, Xiaomi shipped close to 8.2 million units in India, up 170% year-on-year, while Samsung shipped just over 7.3 million units, up 17% year-on-year. Samsung had been the top seller in India for six years. Together, the two companies command more than 50% of the smartphone market in the country, with …

Tencent AI Lab Youtu Hires Zheng Yefeng As R&D Director

China’s tech giant Tencent Holdings Ltd. has hired Zheng Yefeng, former principal key expert at Siemens AG’s Healthcare Technology Center, as its research and development director of Medical Artificial Intelligence of the company’s machine vision lab, Youtu.

Singapore’s Temasek Leads $100M Round In Chinese Robotics Firm Rokid

Singapore’s Temasek Holdings has led a new funding round in Rokid, a Chinese robotics start-up. Investors including Credit Suisse Group, CDIB Capital International, and existing investor IDG Capital also participated in the round, Rokid announced on its Wechat official account. The company did not disclose the amount it raised, but Chinese media reports put the number at US$100 million. Rokid did not immediately respond to China Money Network’s inquiry to confirm the figure. The new round values the company at …