IPO Strips Huami Of Its Unicorn Status; More Unicorn Downgrades To Come?

Huami Corporation, a Chinese manufacturer of low-cost wearable devices backed by smartphone maker Xiaomi, raised a smaller-than-expected US$110 million in a public float on the New York Stock Exchange today. The offering, which was less than the hoped for US$150 million, gives Huami a market valuation of US$690 million, much lower than its previously rumored US$1 billion price tag.

Xiaomi’s Smartwatch Partner Huami Corp Files For US$150M IPO

Huami Corporation, the maker of  Xiaomi’s Mi smart wrist ban is seeking a US$150 million initial pubic offering in the U.S., according a securities filing. The company is applying for the listing of its ADSs on Nasdaq Global Market under the ticker symbol “HMI”. Pricing terms were not disclosed.

From Drone Hackers to Cyber Bodyguards, China Cyber Security a Growing Concern

China Money Network’s Special Situations Team brings you the latest installment in our “Industry Specialist” series, sitting down with Bill Sims, a Managing Director for Cybersecurity, Investigations & Business Intelligence Asia Pacific Stroz Friedberg to discuss the current cybersecurity challenges facing Chinese companies and foreign investors in the country. China is home to the world’s largest group of Internet users. However, the country is behind the curve in terms of cybersecurity. The number of cyber attacks on Chinese and Hong …

Google-Backed Mobvoi Dreams Of Powering Smart Hardware Revolution

Zhifei Li, founder of Chinese artificial intelligence firm Mobvoi, once joked in a Wechat post that the best business model for a Chinese AI company was to become an Internet celebrity via smart marketing and then pivot to become an e-commerce firm. But, he added self-deprecatingly, "because I’m not handsome enough and my Mandarin is terrible, I choose to sell premium hardware powered by our own proprietary AI technology."

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.

Aplus Capital Leads $18.5M Round In Chinese Cashier-Free Convenience Store Xiaomai

Warning: Venture investment in cashier-free convenience stores will explode. Another fully automated convenience store start-up in China just raised RMB125 million (US$18.5 million) from investors after US$20 million was poured into two similar companies during the past two weeks. Aplus Capital, an early stage investment fund, led the latest series A round in Xiaomai, a Beijing-based automated convenience store operator, with participation from Chenshan Capital. Xiaomai’s stores operate in similar ways to rival Bingobox, letting users scan their face or …

Will VC Craze For Cashier-Free Stores Spark Retail Revolution?

In case you haven’t heard, the next "big thing" after bike sharing has arrived. Welcome to the age of cashier-free convenience stores, the latest craze among venture capitalists in China. Since the launch of Amazon Go, the U.S. e-commerce giant’s retail store that requires no cashiers and no check-out, the concept has been quickly adopted in China and taken to a whole new level.

Baidu Acquires US Artificial Intelligence Start-Up KITT.AI

Chinese Internet giant Baidu Inc. has agreed to acquire KITT.AI, a Seattle-based natural language processing start-up founded by Chinese entrepreneurs Yao Xucheng and Chen Guoguo. The pair plan to jointly develop natural language understanding technology as part of Baidu’s intense push into AI.

Mobike To Expand Bike Rental Services To Japan

Leading Chinese bike-sharing company Mobike says it has established a Japanese subsidiary, Mobike Japan Ltd., in Fukuoka city, with plans to begin services in that city later this year. The move comes after the company expanded into Singapore in March and announced plans to launch services in the U.K. later this month.