China Literature — the Tencent e-publishing venture that went public with a US$1 billion IPO last November— announced that it would acquire Chinese digital production company New Classics Media for around RMB 15.5 billion (US$2.2-2.3 billion), according to a media report.
Chinese social media giant Tencent Holdings has set up a film distribution subsidiary, as part of its wider push into movie production and sales.
Shares of Yixin Group Ltd., China’s largest online automobile financing platform, got off to a fast start on its trading debut in Hong Kong on Thursday, jumping over 30% in early trade, before settling lower later in the day.
Tencent Holdings Ltd. has led a US$40 million round in Toronto-based storytelling platform Wattpad, as the Chinese social media and gaming giant continues aggressively investing in start-ups around the world that can provide fresh content for its various mobile apps such as Wechat. Founded in 2006 by Allen Lau and Ivan Yuen, Wattpad allows users to post stories via its website or mobile app and interact with readers through comments. The platform has a monthly audience of over 60 million …
Shenzhen, once a hotbed of technology innovation and home to seven Fortune Global 500 companies, is losing out in the race to becoming China’s Silicon Valley.
We just caught someone swimming naked. Beijing-based e-book mobile app developer Zhangyue publicly announced in 2016 that it had raised a financing round of US$100 million at a valuation of US$1 billion. It was, the company said, a genuine unicorn.
I am frequently asked why our China Unicorn Ranking has 108 unicorns, while some Silicon Valley-based data firms have the number at 45. How do we explain the vast difference?
China Literature Ltd., an online literature platform operated by Tencent Holdings, has filed an IPO prospectus to list on the Hong Kong Stock Exchange, raising a total of US$8.33 billion (US$1.1 billion) via the float.