Chinese Internet firm Tencent Holdings Ltd. has led a US$1.1 billion new funding round in Ola, an Indian ride sharing company that boasts 800,000 drivers in 110 cities in the world’s second most populous country.
China’s social media platforms Baidu and Weibo have joined the Chinese government’s campaign to strengthen online censorship before next months’ Communist Party Congress, when China’s top government officials will be elected.
Meituan Dianping, one of the largest Chinese on-demand local services providers, is said to be raising around US$3 billion from investors including its long-time backer Tencent Holdings Ltd., IDG Capital and other investors, people with close information of the matter said.
Alibaba is becoming a serious player in the online gaming sector. The technology giant founded by Jack Ma today announced that it has acquired online gaming company Ejoy and revealed plans to establish for the first time a dedicated gaming unit to expand into the lucrative sector.
Tencent Holdings Ltd. has agreed to invest HK$2.86 billion (US$367 million) in China International Capital Corp Ltd (CICC) for a 4.95% stake in the company. At the same time, the two parties said they have agreed to establish a strategic partnership in a range of services and products leveraging Tencent’s financial technology and CICC’s wealth management capabilities, according to a joint announcement.
U.S. investment firm Tiger Global Management LLC and China’s Genesis Capital have led a US$230 million series C+ round in MissFresh, a Chinese fresh produce e-commerce platform in China backed by Tencent Holdings and other investors.
Tencent Holdings Ltd. has signed a strategic partnership agreement with Guangzhou Automobile Group Co., Ltd. to discuss possible cooperation in automobile e-commerce, automobile insurance and new energy vehicles, according to a statement issued by Guangzhou Automobile Group.
Organizing chat groups on WeChat, one of the most common forms of multiparty digital communications in China, could soon be a high risk activity. China’s Cyberspace Administration issued new rules last week tightening control over WeChat groups and other such digital platforms, in a move that could make WeChat group chat organizers legally liable for any false information disseminated within their groups.
Chinese Internet giant Tencent Holdings Ltd. continues to back some of the world’s most innovative start-ups, as the Shenzhen-based company says it has joined a US$90 million series B round in Lilium, a German company developing flying taxis.
Beijing-based television and film company Enlight Media has agreed to acquire a 11.11% stake of Maoyan, a Chinese online movie ticketing service provider, for RMB999 million (US$152 million).
Tencent Holdings Ltd. and BlueRun Ventures have led a RMB160 million (US$24 million) series A round in Shuidi, a crowdfunding platform within Tencent’s WeChat mobile app that helps people gain financial assistance to cover healthcare bills.
China is going cashless, no doubt. Chinese consumers spent a total of US$5.5 trillion via mobile payment platforms last year, or simply put, it was about 50 times more than their American counterparts (around US$112 billion), according to data from Forrester Research and iResearch. The credit of the country’s multi-trillion dollar mobile payment market goes to China’s third-party QR code-scanning mobile payment platforms, led by WeChat Pay and Alipay. Statistics show that from 2013 to 2016, the number of transactions …
Apple Inc. has accepted Wechat Pay for payments made in its App Store and music platform, after it accepted Alibaba’s Alipay as a mobile payment option for purchases conducted within its ecosystem. The action will likely drive up Apple’s revenue in China from in-store and music spending, as the U.S. tech giant continues to adjust its strategies for a fast-moving Chinese market.
Sequoia Capital China has led a US$200 million series D round in Vipkid, a Chinese K-12 online education platform, in what the company calls the largest funding round to date in the nation’s K-12 online education sector. Tencent Holdings Ltd., Matrix Partners China, Yunfeng Capital and Zhen Fund also participated in the round.
Chinese Internet giant Tencent Holdings Ltd. has a reputation for cautiously following in the footsteps of others in new businesses segments, then quietly outsmarting the first-movers. The company looks to be using the same strategy in the field of artificial intelligence (AI). So while rival Baidu Inc. has proclaimed itself an AI company, along with numerous other Chinese companies, Tencent is working behind the scenes to become a leader in the field.
Alibaba and Tencent wanted to kill cash. But their dreams of a cashless society may get crushed first. Concerned about the declining use of China’s fiat currency and alarmed by reports of merchants refusing the RMB as payment, the People’s Bank of China has taken action to ban, or at least limit the use of the word “cashless” in promotional materials published by digital payment giant Alibaba’s Ant Financial.
Shenzhen-based supply chain financial services provider Linklogis has raised a RMB200 million (US$29 million) series B round from Tencent Holdings Ltd., China Merchants Venture Capital Management Co., Ltd. and Bertelsmann Asia Investments.
Chinese Internet giant Tencent Holdings Ltd. has joined a US$300 million financing round in smartphone and smart device start-up Essential Products, which was founded by the inventor of mobile operating system Android, Andy Rubin (pictured).
Chinese consumers spent US$5.5 trillion via mobile payment platforms last year, about 50 times more than their American counterparts. By the end of 2016, Tencent alone saw both its active mobile payment accounts and average daily payment transactions exceed 600 million, according to a new report released by Tencent Research Institute, The Chongyang Institute for Financial Studies at Renmin University of China, and research firm Ipsos.
Chinese logistics big data company G7, backed by Tencent Holdings, has hired Julian Ma (pictured), a former vice president at Tencent, as its president to lead the company’s expansions.
Investors are again throwing money at China’s online used-car e-commerce market. After a decade of massive new car sales, the Chinese used car market is growing fast and potential profits abound. But with the market highly fragmented and rival online-to-offline players burning cash faster than buyers can drive cars off the lot, one can’t help wondering if this market is about to crash, and which investors will get hurt.
IDG Capital is reportedly in talks to lead a new funding round in Meituan-Dianping, China’s largest on-demand local services provider.
China’s Internet giant Tencent Holdings Ltd. has agreed to make a strategic investment worth GBP17.7 million (US$23.2 million) in Frontier Developments plc, a British video games developer listed on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange.
Tencent Holdings Ltd. has agreed to invest RMB450 million (US$66 million) in the smart TV unit of China’s biggest television maker, TCL Corp. The deal is Tencent’s latest investment in the smart TV sector as the technology giant seeks to replicate its dominance in mobile phones content in a broader distribution channel.
A number of Chinese private equity firms have acquired stakes in Tencent-backed Since Times, a mobile game developer listed on the Shenzhen Stock Exchange’s New Third Board, according to a company announcement.
China Literature Ltd., an online literature platform operated by Tencent Holdings, has filed an IPO prospectus to list on the Hong Kong Stock Exchange. No financial details were disclosed. But the company, formerly known as China Reading Ltd., is reportedly seeking US$800 million via the float.
Beijing-based Huodongxing.com, an Eventbrite-like platform where organizers plan, promote and sell tickets to their events online, has raised a series A+ round worth tens of million RMB from Tencent Holdings Ltd., co-working space start-up UrWork and Japanese human resources firm Recruit Holdings Co., Ltd.
Chinese Internet giant Tencent Holdings Ltd. has led a US$27 million series B round in Satellogic, a satellite data solution provider headquartered in Palo Alto, California. The deal mark’s Tencent’s third investment in U.S.-based space technology companies in little over a year.
Wang Wei, chairman and founder of Chinese express delivery firm SF Express, yesterday shared his thoughts on possible missed business opportunities resulting from his insistence on being one of the most private billionaires in China.
A number of investors in Focus Media Information Technology Co., Ltd. are likely to reaped billions of U.S. dollars in profits after they offload their shares in the Chinese outdoor advertising company that was taken private in 2013 and re-listed in China two years later. According to a disclosure filing yesterday, Chinese private equity firm FountainVest Partners, Tencent Holdings Ltd. and CITIC Capital plan to sell their interests in Focus Media totaling around 14% of the company’s outstanding shares. The …
Wanda Cinema Line Corp., the film division of Chinese conglomerate Dalian Wanda Group, has teamed up with Tencent Holdings’ gaming, film and online reading units to co-develop, bundle and cross-promote intellectual property (IP), the firms announced overnight.