Lenovo Group Ltd. has teamed up with China Electronics Standardization Institution to launch an Industrial Big Data Application Alliance to support the utilization of industrial big data.
Medlinker, a Chinese social networking platform for doctors, has raised a RMB400 million (US$60 million) series C round led by China Electronics Corporation Data (CEC Data), a data service provider under China Electronics Corporation, which is a state-owned conglomerate directly administered by the central government.
Baidu Inc. may be China’s most innovative tech company. That could eventually make it China’s most successful tech company, or its greatest failure.
Alibaba Group Holding Ltd. has reportedly invested RMB1.5 billion (US$227 million) in SenseTime, a Beijing-based Chinese artificial intelligence company specializing in facial and image recognition technology and its application.
Chinese humanoid robot maker Ubtech Robotics is raising a US$400 million series C round led by tech giant Tencent Holdings Ltd. with participation from investors whose identities are unknown at this moment. The Shenzhen-headquartered company has been raising this round at least from six months ago, and the final numbers may still change, according to people familiar with the matter.
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.
Chinese Internet company Baidu Inc. is reportedly leading a new funding round of roughly RMB1 billion (US$140 million) in WM Motor, an electric vehicle start-up founded by Freeman Shen, the former chairman of Volvo Car Group China.
Chinese Internet giant Tencent Holdings Ltd. has led a new funding round worth over US$1 billion in NIO, a Shanghai-based electric vehicle company founded by a top Chinese automobile executive.
Tencent Holdings Ltd. now owns 12% of Snap Inc., the operator of New York Stock Exchange-listed image messaging app Snapchat, as the Chinese tech giant continues to speed up its overseas investment in leading technology companies.
Chinese news app Toutiao appears to be the latest Chinese media platform looking to get into financial technology. According to local news reports, the five-year-old company with a valuation estimated at US$20 billion is looking to acquire an insurance broker in China to break into the insurance business, but without having go through the time consuming process of obtaining an insurance license.
China’s largest online automobile financing platform Yixin Group, backed by investment heavyweights Tencent Holdings Ltd, Baidu Inc., JD.com and BitAuto Holdings Ltd, plans to raise up to HK$6.77 billion (US$867 million) via an initial public offering on the Hong Kong Stock Exchange.
Tencent Holdings Limited has invested tens of millions of RMB in a series A round in Shenzhen-based GJS Robot, a start-up specializing in making customized fighting robots designed for robot combat competitions, local media reports.
Silicon Valley-based education robots developer Wonder Workshop has raised a US$41 million series C round from a number of investors including Chinese tech giant Tencent Holdings Ltd., SoftBank Group’s unit SoftBank Korea.
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 …
China’s Tencent Holdings Ltd. has led a US$4 billion new funding round in Meituan-Dianping, one of the largest on-demand local services platforms in China.
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.
Update: Meituan Dianping Announced A US$4 billion Financing Round on October 19, 2017 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.