China’s tech giants are waging a price war over smart speakers. But that’s ok with Chang Le, co-founder of Beijing-based start-up SoundAI, who sees it as a sign of market strength. Baidu just released its lower-end smart speaker Xiaodu at a special discount price of RMB89 (US$13.9), the same as Alibaba’s smart speaker Tianmao Jingling (Tmall Genie), and little more than JD.com’s Dingdong, which is selling at a discounted RMB79 (US$12). Chang says the price war is completely understandable because every …
China’s largest retailer Alibaba Group Holding has joined SoftBank to invest 15 billion India rupee (US$222 million) in Indian e-commerce platform Paytm Mall, as part of the 30 billion India rupee funding commitment initially announced in April, according to Indian local media reports.
In its latest reconstruction moves, household appliances manufacturer Henan Xinfei Electric Co., Ltd., has auctioned its brand equities and fixed assets worth of millions of RMB to look for new investors.
ICBC International Holdings Ltd, SPDB International and Gaocheng Capital have invested in a US$200 million series C+ round in Yitu Technology, a Shanghai-based artificial intelligence start-up specialized in the field of machine vision, big data and advanced hardware, according to Yitu’s announcement on its official WeChat account.
Three months after China’s largest search engine Baidu Inc. launched its smart speaker with screens called Xiaodu Zaijia, the company has introduced another, smaller version at a deeply discounted price.
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.
Alibaba’s fintech affiliate Ant Financial has made a strategic investment in Xingbianli, a checkout-free convenience store operator that focuses on placing snack bars in offices. The size of the investment in Sequoia-backed Xingbianli was not disclosed.
Alibaba’s financial affiliate Ant Small and Micro Financial Services Group Co., Ltd. announced today that it has entered into definitive agreements with investors for its Series C equity financing totaling approximately US$14 billion.
China’s securities regulator China Securities Regulatory Commission (CSRC) has issued trial rules for issuance and trading of Chinese Depositary Receipts (CDRs), similar to ADRs in the U.S.
The government of Guizhou Province, China, has announced plans to establish a RMB3 billion (US$470 million) industrial fund to boost big data development.
Guangzhou-based private equity firm Cornerstone Management, Inc. has filed for a US$70 million initial public offering on NASDAQ, according to its security filing.
China Cinda Asset Management Co., Ltd，one of China’s Big Four AMCs (Asset Management Company), saw its non-performing asset business grew 29.6% in 2017 to RMB135.5 billion (US$21 billion). Revenues from non-performing assets management expanded faster, up 41.2% year-on-year in 2017 to RMB45.3 billion (US$7 billion), according to its annual report.
China’s largest retailer Alibaba Group Holding Ltd has made a strategic investment to acquire 10% stake in Chinese pregnancy and parenting online portal and e-commerce platform Babytree Inc., valuing the later at RMB14 billion (US$2.19 billion), according to Chinese media reports citing insiders.
In this episode of China Money Podcast, listen to all the news headlines in the week of May 27 to June 1, 2018 with host Nina Xiang. Topics covered include China Money Network’s freshly released China VC Tracker for the month of May, how Chinese AI company SenseTime raised US$1.2 billion in a two-month period, and how the battle to gain an upper hand in omni-channel retail continues between Tencent and Alibaba. Be sure to subscribe to China Money Podcast …
Chinese venture capital activity saw a jump in the number of announced deals but total deal value dropped significantly last month from April because of the lack of mega deals. In May, 284 VC deals were announced worth an aggregate US$6.38 billion, compared to 209 deals worth US$15.59 billion in April, according to China Money Network’s China VC Tracker released today. China VC Tracker is produced based on proprietary data collected by China Money Network.
Alibaba’s financial services unit Ant Financial has invested RMB2.06 billion (US$321 million) in bike sharing firm Hellobike, valuing the latter at US$1.47 billion and giving birth to a new unicorn company in China, according to Shanghai-listed Yonou Bike’s security filing.
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.
Chinese e-commerce giant Alibaba Group Holding Ltd. wants to invest over RMB100 billion (US$15.6 billion) on smart logistics to improve delivery reach and efficiency, the company’s founder and executive chairman Jack Ma said this morning at a conference in Hangzhou.
SenseTime, the world’s highest valued private artificial intelligence (AI) company, has announced the completion of a US$620 million series C+ funding round, led by Fidelity International, Hopu Capital, Silver Lake and Tiger Global.
In a move that further threatens Chinese e-commerce giant Alibaba Group Holding’s dominance in omni-channel retail, Chinese conglomerate Dalian Wanda Group will join tech giant Tencent Holdings Ltd. to set up an Internet technology firm to strengthen its position in retail, according to Wanda’s announcement.
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.
Alibaba Group Holding Limited (NYSE: BABA) and its logistic arm Cainiao Network have led a strategic investment of US$1.38 billion in Chinese express delivery company ZTO Express, in exchange for an approximately 10% stake in the company.
China’s internet giant trio Alibaba Group Holding, Tencent Holdings Ltd, and Baidu Inc, known as the BAT, have joined some prominent state-owned investors to pick up stakes in Foxconn Industrial Internet Co.’s RMB27.1 billion (US$4.3 billion) initial public offering.
China and US-headquartered biomedical firm Brii Bio has raised US$260 million from Sequoia Capital, Yunfeng Capital and others.
NewsDog, an Indian news aggregation and personal recommendation mobile app operator, has completed a US$50 million series C round led by Chinese tech giant Tencent Holdings Ltd.
China’s Ministry of Industry and Information Technology expects that after robust growth in the country’s blockchain industry, 2018 will prove to be another blockbuster year for the sector with record amount of capital injected into blockchain, according to an industry report published by the ministry today.
Alibaba Group Holding Limited (NYSE: BABA), Chinese artificial intelligence company SenseTime and Hong Kong Science and Technology Parks Corporation (HKSTP) have launched The HKAI Lab, a not-for-profit initiative with the aim to support innovation in the field of AI in Hong Kong.
Alibaba Group’s financial affiliate Ant Financial has led a D round of more than US$200 million in Shenzhen-based motion sensing firm Orbbec.
In this episode of China Money Podcast, listen to all the news headlines in the week of May 14-18, 2018 with host Nina Xiang. Topics covered include Alibaba’s founder Jack Ma’s views on blockchain, the world’s largest Bitcoin miner Bitmain leading US$110 million in Goldman Sachs-backed Circle, and Chinese autonomous driving start-up Roadstar.ai raising a massive US$128 million financing round. Be sure to subscribe to China Money Podcast for free in the iTunes store, or subscribe to our weekly newsletter. …
Jack Ma, the billionaire founder of Chinese tech giant Alibaba Group Holding Ltd., said that Bitcoin is a bubble, while blockchain is not.
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.