China continued to be a breeding ground for tech unicorns in 2017, with 22 private companies receiving a valuation of US$1 billion or more for the first time. The 2017 vintage unicorns boast a total valuation of US$37.3 billion, accounting for more than a third of the total newborn unicorns worldwide, and 38% in terms of valuation, China Money Network‘s data shows.
Happigo Home Shopping Co., Ltd., a TV shopping platform listed on ChiNext, a NASDAQ-style board of the Shenzhen Stock Exchange, will acquire 100% ownership of Mango TV, an online video platform of Hunan Satellite TV, for RMB9.5 billion (US$1.4 billion), according to a stock exchange filing by Happigo.
Millions of ambitious young people wake each morning wanting to “change the world,” but few have as ambitious a goal as Bill Liu, founder of Chinese flexible display company Royole Corporation. If Thomas Friedman argued that “the world is flat,” then Bill Liu’s mission is to bend, curve and roll up that world.
Chinese bike sharing company Mobike is now worth billions of U.S. dollars, the company’s CEO Davis Wang said during an interview with media. The company became a “unicorn” in January after it completed a US$215 million series C round from Tencent Holdings Ltd. and Warburg Pincus at a valuation of over US$1 billion. Last month, Mobike’s biggest competitor ofo announced that its valuation had reached US$2 billion, which is about double the company’s estimated worth in March when it raised …
Beijing-based bike sharing company ofo is now worth more than US$2 billion, CEO Dai Wei claimed during a media interview. The valuation is about double the company’s estimated worth only 40 days ago when it raised a US$450 million round with a valuation of just over US$1 billion.
Chinese media conglomerate Shanghai Media Group has led a RMB750 million (US$108 million) series A round in NetEase Cloud Music, a music and radio platform operated by Chinese Internet portal NetEase Inc.
Tink Labs Ltd., a Hong Kong-based start-up providing smart phone rental services for travelers, is in the process of raising a US$40 million funding round. Once complete, the company could be valued at over US$1 billion post-money, making it the first unicorn – a private technology company valued at US$1 billion or more – born in Hong Kong.
Since an early age, Wang Jun has been fascinated with the fundamental philosophical question: What is life? The ex-CEO of Chinese genome sequencing giant BGI and founder of China’s highest-valued precision health start-up iCarbonX now aims to help people answer that question for themselves. Wang entered Peking University, China’s top university, at the age of 16 after achieving the highest college entrance exam score in his hometown of Dongtai county, in Jiangsu province. During the early 1990s, he pursued his …
Half of China’s ten biggest unicorns, or start-ups valued at US$1 billion or above, are financial technology firms. Alibaba-affliated Ant Financial is the biggest unicorn in the country, worth a whopping US$60 billion, followed by peer Lufax at US$18.5 billion, according to a new report by iResearch.
There are 35 Chinese unicorns, or private companies valued at US$1 billion or above, double from last year’s tally, according to the latest unicorn rankings released by Fortune.