Chinese social media giant Tencent Holdings Ltd is in talks to participate in a US$100 million to US$150 million investment in Indian baby care retailer Firstcry, according to Indian media citing insiders.
Chinese K-12 Online Education Platform Vipkid Raises $500M Series D+ Round
Vipkid, a Chinese K-12 online education platform, announced that it has raised a US$500 million series D+ round led by technology-focused hedge fund Coatue Management, Tencent Holdings Ltd, Sequoia Capital China, and Jack Ma-backed Yunfeng Capital.
Why Did Google Invest In China’s JD.Com? Here’s What Experts Think
News came yesterday that Google would invest US$550 million in cash in China’s second largest retailer JD.com Inc., as part of a strategic partnership. The two partners plan to collaborate on a range of strategic initiatives, including joint development of retail solutions and making some products of JD.com available for sale through Google Shopping channels in multiple regions.
Google Makes $550M Strategic Investment In JD.COM
Google will invest US$550 million in cash in China’s second largest retailer JD.com Inc., as part of a strategic partnership, according to JD.com’s announcement. The deal marks JD.com’s latest globalization efforts to rival Alibaba Group Holding and amazon.com Inc. In February, CEO Richard Liu announced plans to invest at least 1 billion Euro to build a logistics network in France. In April, JD.com launched its Spanish website joybuy.es to target 400 million Spanish-speaking users. Last year, the company formed a …
Hans Tung: Eight Lessons From The Rise Of Chinese Short Video App Douyin
What is the most popular app in China? You’re probably thinking WeChat. Though that might still be true, WeChat now has a serious challenger whose meteoric rise has taken China by storm (and WeChat’s owner Tencent by surprise). That is Douyin (抖音, literally “shaking sound” in Chinese), one of the most popular short video apps in China, as well as worldwide. It is owned by ByteDance (a.k.a Toutiao), an AI-driven media company in China and one of the world’s most …
SoundAI’s Chang Le: Voice-Controlled Devices Next Battlefield For Digital Traffic
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 …
Tencent Said To Lead A $500M Deal In Korean Game Developer Bluehole
Chinese social media giant Tencent Holdings Ltd. is leading a deal to acquire as much as 10% stake in Korean game developer Bluehole Inc. for more than US$500 million, according to a Wall Street Journal report citing insiders.
Despite Slump, Chinese Crypto Investors Believe "Thousands" New Token Funds Will Bring Another Bull Market
Despite the current market slumps, Chinese cryptocurrency practitioners still believe a bull market is in store because of the growing size of capital that is readying themselves to enter into the space.
Baidu Said To Prepare For CDR Listing As The First Chinese Tech Stock To Return Home
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.
Chinese Used Car Auction Platform Tiantianpaiche Receives $100M Investment From Autohome
Chinese used car auction platform Tiantianpaiche has received US$100 million strategic investment Autohome, a Chinese automobile online platform, according to Tiantianpaiche’s announcement on its official WeChat account.
New CSRC Rules Allow Overseas-listed Chinese Firms To Raise Money At Home
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.
Guizhou Establishes $470M Big Data Industrial Fund
The government of Guizhou Province, China, has announced plans to establish a RMB3 billion (US$470 million) industrial fund to boost big data development.
Tencent, Geely Win Joint Bid For China Railway Wifi Provider
Chinese social media giant Tencent Holdings Ltd and automaker Zhejiang Geely Holding Group have won a joint bid to obtain a 49% stake in High Speed Network Technology Company, which provides WiFi and technology services to high-speed rail customers across China.
Green Harbor Leads $125M Series D Round In Used Car Auction Platform Chezhibao
Chinese private equity fund Green Harbor Investment has led a RMB800 million (US$125 million) series D round in Nanjing-based customer-to-business used car auction platform Chezhibao.
Tiger Global Leads $70M Round In Chinese Long-term Apartment Leasing Firm Danke
Tiger Global Management has led a US$70 million series B+ round in Chinese long-term apartment leasing firm Danke, according to Danke’s announcement.
NetEase Acquires Minority Stake In American Video Game Studio Bungie For Reported $100M
Chinese Internet and online gaming company NetEase, Inc. (NASDAQ: NTES) has acquired a minority stake in American video game developer Bungie Inc., the company announced today.
China VC/Tech News Weekly Roundup: China VC Report For May, Sensetime Raises $1.2B In Two Months
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 …
China VC Tracker: Chinese VCs Made 284 Deals Worth $6.38 Billion In May 2018
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.
Ant Financial Invests $321M In Hellobike At $1.47 Billion, Creating A New Unicorn In China
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.
Alibaba Leads $300M Series D In Cross-Border Shopping Recommendation App Xiaohongshu
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 EV Unicorn NIO Begins ES8 Deliveries As The First To Face Consumer Inspections
Finally, one Chinese electric vehicle company has reached the critical moment of delivering its vehicles to face the real-life tests and inspections by consumers. NIO, a Shanghai-based EV unicorn with a reported valuation of between US$3 billion to US$5 billion, delivered its first batch of NIO ES8, a seven-seater electric SUV, today in Shanghai, NIO announced today.
Wanda Joins Tencent To Set Up Technology Joint Venture To Promote Omni-Channel Retail
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.
Sinovation Ventures Invests $5.8M In Yonghui Superstore Unit
Chinese incubator and venture capital firm Sinovation Ventures has invested RMB37.5 million (US$5.8 million) in return for a 3% stake in a unite of Tencent-backed Chinese fresh produce retailer Yonghui Superstores.
Tencent-Backed Chinese EV Firm NIO Files Confidentially For US IPO
Chinese electric vehicle company NIO, backed by Tencent Holdings Ltd., has filed confidentially for a planned U.S. initial public offering, according to media reports citing insiders.
Tencent Invests $199M In DHC Software’s Affiliate To Expand Cloud Business
China’s Internet giant Tencent Holdings Ltd has invested RMB1.27 billion (US$199.24 million) in an affiliate of Shenzhen Stock Exchange-listed DHC Software Co., Ltd., according to DHC’s security filing.
Alibaba, Tencent And Baidu Invest In Foxconn Unit’s $4.3B IPO
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 VC/Tech News Roundup: Sequoia Co-Leads $260M Round In Brii Bio, China’s Official Blockchain Report
In this episode of China Money Podcast, listen to all the news headlines in the week of May 21-25, 2018 with host Nina Xiang. Topics covered include two massive healthcare VC rounds, including Sequoia Capital and Yunfeng Capital’s US$260 million investment in biomed firm Brii Bio, and Ally Bridge Group’s US$300 million investment in Tencent-backed cancer detection start-up Grail. In addition, there are lots of insights from China’s official blockchain report. Be sure to subscribe to China Money Podcast for …
Tencent Uses Blockchain To Help Shenzhen Taxman Fight Tax Evasion
Chinese social media giant Tencent Holdings Ltd. will use blockchain technology to help local tax bureaus fight tax evasion.
Ally Bridge Group Leads $300M In Tencent-backed Healthcare Firm Grail
Hong Kong-based life science focused investment firm Ally Bridge Group announced that it has led a US$300 million round for Tencent-backed Grail, Inc., a healthcare company whose mission is to detect cancer early, when it can be cured.
Indian News App NewsDog, Founded By Chinese Entrepreneurs, Scores $50M Round Led By Tencent
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.
Chinese Ministry Says 2018 Will Set New Height For Blockchain Investment In China
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.