Chinese online smart recycling platform Xiaohuanggou announced that it has raised a RMB1.05 billion (US$163.67 million) series A round from Beijing-headquartered asset management firm Zhongzhi Enterprise Group.
Chinese social media giant Tencent Holdings Ltd. is leading a deal to acquire as much as 10% stake in Korean game developer Bluehole Inc. for more than US$500 million, according to a Wall Street Journal report citing insiders.
China’s largest online search engine Baidu Inc. is preparing for its Chinese Depository Receipts (CDR) issuance application, likely to become the first Chinese company that has listed overseas to return to the domestic A-share market, according to Chinese local media citing insiders.
Chinese social media giant Tencent Holdings Ltd and automaker Zhejiang Geely Holding Group have won a joint bid to obtain a 49% stake in High Speed Network Technology Company, which provides WiFi and technology services to high-speed rail customers across China.
Social media giant Facebook Inc has admitted that it shares user data with at least four Chinese companies, including Huawei Technologies Co., Ltd., the Chinese telecommunications company whose products are deemed a security threat by the U.S. government, according to a New York Times report.
Chinese live streaming social media platform YY Inc. (NASDAQ:YY) announced that it has invested an additional US$272 million in series D preferred shares of Singaporean video-based social media platform Bigo Inc., to become the largest shareholder.
Chinese tech giant Alibaba Group Holding Ltd. has led a US$300 million series D round in Xiaohongshu, a social recommendation app for cross-border shopping, valuing the firm at over US$3 billion.
Alibaba’s food delivery unit Ele.me has started using drones to help deliver food, marking the first known commercial application of drones in the food delivery business.
China’s Internet giant Tencent Holdings Ltd has invested RMB1.27 billion (US$199.24 million) in an affiliate of Shenzhen Stock Exchange-listed DHC Software Co., Ltd., according to DHC’s security filing.
Baidu, Inc. (NASDAQ: BIDU) today announced that it has entered into definitive agreements with certain investors relating to the divestiture of its global ad and tools business ("Global DU business"), which provides DU ads and tool apps, including Du Caller, Mobojoy, Photo Wonder and DU Recorder.
In another high-level executive departure, Baidu Inc. today announced that Lu Qi will no longer serve as chief operating officer of the company starting in July 2018. He will continue to serve as vice chairman of the board of directors.
Toutiao has learnt its lesson. Stung by a harsh government crackdown earlier this year, the personalized news app has launched an overhaul of its content and messaging to "shape correct public opinion," according to reports.
Alibaba Group Holding has joined Chinese travel service provider Ctrip.com International, Ltd. to invest RMB400 million (US$63 million) in a series D1 round of financing in Meiweibuyongdeng, a mobile app that helps restaurants better manage their bookings and customer wait times.
China’s live game streaming firm Huya Inc. will price its initial public offering of 15 million American Depository Shares (ADS) on the New York Stock Exchange (NYSE) at US$12 per ADS, according to media reports. If correct, the company will raise US$180 million.
Alibaba Group is continuing its acquisition spree in South Asia with news that it has acquired one of the region’s largest e-commerce platform, Daraz Group.
Michael Zeisser, Alibaba Group Holding’s top dealmaker in the U.S., has left the firm, according to a U.S. media report.
Tencent Holdings has launched its own online document product focused on multi-person collaboration similar to Google Docs, the latest move by the Chinese Internet giant in the office application segment.
China’s e-commerce giant Alibaba Group Holding will invest RMB4.5 billion (US$717.2 million) in Huitongda Network Co., an e-commerce platform serving rural consumers, in a bid to expand its sales outside major cities.
China’s social media giant Tencent Holdings has led a RMB617 million (US$98.2 million) series A round in Chinese video news platform Pear Video. It marks the latest in a series of recent investments in the video space by Tencent.
Shares of American action camera manufacturer GoPro Inc. jumped 8.8% in New York today on news reports that Chinese electronics and software company Xiaomi Inc. is considering making an offer for the U.S. company.
China’s anti-pornography office has summoned 18 online video streaming and related media companies, including Douyu, Qiqiyi, Huajiao and Toutiao, asking them to strengthen video censorship, according to the authority’s website.
Zhang Yiming, founder and CEO of Toutiao, the US$20 billion unicorn which recommends news and other media contents via algorithm, issued an apology letter at midnight last night after Chinese regulator ordered his firm to shut down its joke app Neihan Duanzi permanently.
Four Chinese news apps, including personalized news recommendation app Toutiao and its rival Tiantian Kuaibao, owned by Tencent, have been removed from Chinese smartphone app stores, as China’s government strengthens online censorship.
Suzhou-based travel B2B platform Ba Zhua Yu Online, or Octopus, has raised a RMB600 million (US$95 million) series C round from Tempus Group, a conglomerate focusing on travel and personal financial services, Ant Financial and CCB International, an investment services firm owned by China Construction Bank Corporation.
Apple Inc. has updated its operating system to enable Chinese passengers to use Apply Pay on the public transportation systems in Beijing and Shanghai, to rival Tencent and Alibaba in mobile payment.
Retail investments benefit Tencent in three ways: mobile payment and related financial services, cloud development and advertisement, according to the tech giant’s Founder and CEO Pony Ma.
Amazon is reportedly in talks to pay US$1 billion dollars to acquire the television production rights to popular Chinese science fiction novel The Three-Body Problem, written by the Chinese writer Liu Cixin. Firstly serialized online in 2006 and published as a book in 2008, the three part novel includes The Three-Body Problem, The Dark Forest and Death’s End. It became one of the best-selling science novels in mainland Chinese history. The story, set against the backdrop of China’s Cultural Revolution, …
Tencent Holdings Ltd has led a pre-IPO investment of more than US$100 million in Chinese personalized news recommendation app Qutoutiao, valuing the start-up between US$1.3 billion to US$1.5 billion, according to local media.
The Australian Defense Department has banned its staff and serving personnel from using Tencent’s social media and messaging app WeChat amid growing concerns over Chinese espionage activities in Australia, according to Australian local media.
China’s bike-sharing firm ofo announced that it has raised US$866 million in equity and debt capital in a funding round led by Alibaba Group Holding Ltd. The deal increases Alibaba’s control over the company and further distances ofo from its major shareholder Didi Chuxing.
China’s second largest retailer JD.com has announced plans to launch an international research and innovation center focused on supply chain management, following the lead of its largest competitor Alibaba, which established a US$15 billion global research and development program DAMO Academy last October.