Tencent Built Its Empire With 600 Deals In Six Years, Now It Wants To Bury Alibaba

China Money AI is our news writing robot. These articles are edited by humans Tencent has invested over RMB100 billion (US$16 billion) in more than 600 companies during the past six years to build an empire worth over US$500 billion, making it the sixth biggest company in the world. Now the Chinese social networking and gaming giant is eyeing the next battlefield it plans to win: the core retail business of its arch rival Alibaba Group.

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.

Tencent, Suning, JD.Com And Sunac To Invest $5.4B In Dalian Wanda Commercial In Retail Offensive

Tencent Holdings Ltd. has teamed up with investors including Suning Holdings Group, long-time partner JD.com Inc. and Chinese property developer Sunac China Holdings Group to acquire around 14% of Dalian Wanda Commercial Properties Co. for approximately RMB34 billion (US$5.4 billion), the Chinese social networking and gaming giant said today.

Alibaba Invests $2.9B In China Hypermarket Chain Sun Art In New Retail Push

Chinese Internet retail giant Alibaba Group Holding Limited has formed a strategic alliance with French retailer Auchan Retail S.A. and Ruentex Group to pursue new opportunities in China’s food retail sector. As part of the strategic alliance, Alibaba will invest a total of HK$22.4 billion (US$2.88 billion) to obtain an aggregate 36.16% stake in Sun Art Retail Group Ltd., a Chinese hypermarket operator listed on the Hong Kong Stock Exchange. Alibaba is buying the stake from from Ruentex, for around …

Alibaba Leads US$335M Series E Round In Chinese Used Car Transaction Platform Souche

Alibaba Group Holding Ltd. has led a US$335 million series E round in Chinese used car online transaction platform Souche, with participation from Warburg Pincus, Primavera Capital and CMB International. This round takes place less than 12 months after the a US$100 million series C round completed in November 2016 led by Ant Financial, and less than 6 months after a US$180 million series D round completed in April 2017 led by Warburg Pincus. After this round of financing, Alibaba …

Mobike’s First Day Explains The Power Of Bike Sharing In China

Whenever I see a small company having a startling large impact on the world, I look for an engine. I look for something that is amplifying what a relatively small number of people are doing. For example, the engine that rocketed Facebook (and Wechat) upwards was the economics and psychology of social media (plus viral marketing). The engine that powered Macau to become five times Las Vegas in a few years was the psychology of gambling plus 1.4B Chinese consumers. …

Chinese Machine Vision Firm Yi+ Raises $14M Round

Yi+, a Chinese artificial intelligence start-up developing machine vision technology for content marketing, has raised a RMB100 million (US$14 million) series B round from Haitong Securities, financial services company Bairongjun Group and The Bank of Beijing.

IDG Leads Series A Round In Chinese Cashier-Free Convenience Store Operator Guoxiaomei

Chinese venture capital firm IDG Capital has led a series A round in Guoxiaomei, a cashier-free convenience store operator that places snack bars in corporate offices. Financing details were not disclosed, but IDG has likely invested tens of millions of RMB in the start-up, including in an earlier pre-A round completed last month.