Venture capital firm GGV Capital is looking to raise seven new funds targeting total fundraising of US$1.88 billion, according to a security filing dated August 13.
Alibaba Bought Stake In Turkish E-commerce Platform Trendyol At $750M Valuation
Chinese e-commerce Alibaba Group Holding Ltd. has acquired a majority stake in Turkish e-commerce platform Trendyol at an enterprise value of at least US$750 million, according to a U.S. media report citing insiders.
Alibaba’s Food Delivery App Ele.me Establishes Cooperation With Hellobike
After completing the docking with Alibaba’s Tmall store, Ali Health, RT-Mart, Freshhema and other commercial entities, Ele.me announced that it had completed the entrance docking with Hellobike.
Jack Ma-Backed Yunfeng Capital Completes $2.5B Fundraising
Yunfeng Capital, co-founded by Alibaba’s founder Jack Ma has raised US$2.5 billion for its new fund, according to a security filing dated August 3 with the U.S. Securities and Exchange Commission.
Softbank’s Vision Fund To Invest $3B In Alibaba’s Food Delivery App Ele.me
SoftBank Group Corp.’s Vision Fund plans to lead an investment of US$3 billion to US$5 billion in Alibaba’s food delivery giant Ele.me, according to a Bloomberg report.
Gaorong Capital, CMB International Co-Lead $26M Series A In Chinese AI Start-Up Tianrang
Chinese venture capital firm Gaorong Capital has joined CMB International to co-lead a RMB180 million (US$26 million) in Chinese artificial intelligence start-up Tianrang.
Google Reportedly In Talks With Tencent And Inspur To Provide Cloud Service In China
American tech giant Google is reportedly in talks with Tencent Holdings Ltd. and Chinese cloud computing service provider Inspur Group and other Chinese companies to bring its Google cloud services to mainland China, according to media reports citing insiders.
JD.Com Launches First Cashier-Free Store Overseas In Indonesia
Chinese e-commerce firm JD.com Inc has opened its first cashier-free retail store overseas in Indonesia. The JD.ID X-Mart, newly opened in Jakarta, looks and operates similarly to cashier-free stores opened earlier by its rival Alibaba and many Chinese unmanned convenience store start-ups that emerged last year.
Primavera Capital, Morningside Venture Capital Co-lead $587M Series B+ Round In Xiaopeng Motors
Chinese electric vehicle maker Xiaopeng Motors announced that it has raised a RMB4 billion (US$587 million) series B+ round led by Chinese investment firm Primavera Capital Group, Morningside Venture Capital and its founder He Xiaopeng.
China VC Tracker: Fintech And Media Stood Out As VCs Invested $11.36B In Chinese Start-Ups In July
Two massive deals in the fintech and media sector, each worth US$1.5 billion or more, stood out in China’s venture capital market in July, as investors put US$11.36 billion in start-ups last month.
Alibaba’s Ele.me Rumored To Seek $3B In Fresh Capital To Finance Market Share Battle With Rivals
Alibaba’s food delivery service Ele.me is reportedly seeking a US$3 billion new funding round to finance an increasingly fierce market share battle with rival Meituan Dianping and new comer Didi Waimai, according to Chinese media reports citing insiders.
Tencent To Reportedly Develop AI Devices In A Joint Venture With Samsung
China’s social media giant Tencent Holdings Ltd. has joined forces with Korean smartphone maker Samsung Electronics to push artificial intelligence-powered devices, according to Korean media insiders.
Alibaba, Tencent Invest $53M In Chinese TV Show Producer Canxing
Chinese tech giants Alibaba Group Holding and Tencent Holdings Ltd have invested in television show producer Shanghai Canxing Cultural and Broadcast Company Ltd., according to a security filing.
Pinduoduo, Freshly Listed, Claims Malicious Cyber Publicity Attack By Competitors
Chinese e-commerce platform Pinduoduo Inc. (PDD.O), which just completed a listing on the NASDAQ, said that it has suffered from a series of planned and malicious cyber publicity attack. Pinduoduo said it has reported the attack to the China Internet Network Information Center.
Public Chain Ultrain Raises $20M Cornerstone Investment, Valuation Touches $200M
Public-blockchain technology venture, Ultrain Technology Ltd. Raised US$20 million cornerstone investment from Danhua Capital, FBG Capital, BlueRun Ventures, 8 Decimal Capital, OK Gang Capital and others, according to Chinese media reports.
Ofo In Talks To Sell Itself At Discounted Prices After Suffering From A Slew Of Bad News
Ofo, one of the two largest Chinese bike rental firms in China, is near a deal to sell itself to Chinese ride hailing firm Didi Chuxing at a much discounted price after suffering a slew of bad news.
China VC/Tech News Weekly Roundup: WeWork China Raises $500M, Alibaba Reportedly Leads $600M In Face++
In this episode of China Money Podcast, listen to all the news headlines in the China venture and tech sector for the week of July 23 to July 27, 2018, with host Nina Xiang. Topics covered include WeWork China raising a US$500 million series B round of financing led by Temasek, the SoftBank Group the SoftBank Vision Fund, and Megvii Inc., also known as Face++, reportedly nearing a US$600 million round from investors including Alibaba and Boyu Capital. Be sure …
Sequoia Capital Leads $18M Series A+ Round In Marketing Firm Tikin Media
Sequoia Capital China has led a RMB120 million (US$17.7 million) series A+ round in Beijing-based marketing firm Tikin Media.
Blockchain Startup TRON To Acquire Software Company BitTorrent For $140M
Blockchain startup TRON announced in a blog post that it has officially acquired San Francisco-based software company BitTorrent.
Facebook Sets Up Subsidiary In Hangzhou To Make Inroads In China
US social media giant Facebook has moved forward to China by setting up a subsidiary in Hangzhou, home to Alibaba, with a registered capital of US$30 million, China’s National Enterprise Credit Information Publicity System said.
Chinese Smart Navigation Start-up Wayz.ai Raises $80M Series A Round
Smart location and mapping service start-up Wayz.ai announced that it has raised a US$80 million series A round from undisclosed investors.
Meituan Dianping Expands Offline Presence By Adding New Supermarkets In Wuxi
Chinese on-demand local services firm is expanding its offline presence with two more supermarkets in Wuxi city in Jiangsu province.
Alibaba Joins $600 Million Round for Chinese Facial Recognition Start-up Megvii
Megvii Inc., the Chinese developer of facial recognition system Face++, is said to be raising at least $600 million from investors including Alibaba Group Holding Ltd. and Boyu Capital, according to media reports.
Tencent, Alibaba May Buy Minority Stakes In WPP’s Chinese Operation To Boost Advertising Business
China’s internet giants Alibaba Group Holding Ltd., and Tencent Holdings Ltd. are in talks to acquire a minority stake in British advertising and public relations firm WPP, according to British media insiders.
GlobalPlatform Expands Annual Seminar in China
The new ‘Security in our Connected World’ event will focus on the
implementation and value of GlobalPlatform technology in real world use
cases
BEIJING–(BUSINESS WIRE)–#Blockchain–Following the success of its 2017 event, …
Xiaomi Launches New Platforms Offering Blockchain-based Mili As Reward
In lieu of Xiaomi’s Milutong platform, the electronics bigwig announced the release of 2B (for the enterprise) Milutong platform and the 2C (for the individual) Xiaomi WiFi chain allowing users to earn blockchain reward "Mili”.
Alibaba, Goldman Sachs Co-lead $600M Series A Round In Suning Sports
Suning Sports, the sports unit of Chinese retailer Suning Holdings Group, announced that it has completed a series A round led by Alibaba Group Holdings and Goldman Sachs.
Alibaba Buys $2.2B Stakes In China’s Digital Media Firm To Gain Offline Traffic
E-commerce giant Alibaba Group Holding Ltd., has agreed to buy a 10.3% stake in Shenzhen-listed digital media company Focus Media Information Technology for RMB15 billion (US$2.23 billion), according to the latter’s security filing.
Tencent Expands E-commerce Investment By Leading Hundreds Of Millions Of RMB In Haoyiku
China’s social media giant Tencent Holdings Ltd. has led a series B round worth several hundred millions of RMB in Hangzhou-based e-commerce platform Haoyiku.
Chinese AI Firm Yitu Technology Secures $100M From China Industrial Asset Management
One month after Yitu Technology scored US$200 million, the Chinese artificial intelligence firm secured another US$100 million from China Industrial Asset Management Ltd.
IDG Capital Co-Leads $100M Series B Round In Chinese Chip Maker ASR Microelectronic
Shanghai-based chip maker ASR Microelectronic has completed a US$100 million series B financing led by IDG Capital and Wanrong Hongtu Fund, the company announced today.