People in China have a host of reasons not to go outdoors these days. They may be too busy to leave their office, wary of air pollution or have chosen to live isolated lives. Among them is an expanding young consumer base who prefers to dwell in the virtual world of video games, animes and […]
View More Alibaba just gave Chinese youth another reason to never leave their deskCategory: alibaba group
How a Chinese anti-virus software maker builds a fintech firm to wrestle with giants
360 Finance, an online consumer loan platform that spun off from China’s anti-virus service giant 360 Group, has joined a raft of Chinese fintech companies to go public in the U.S. over the last two years. The company priced its initial public offering at $16.50 per share last Friday, raising $51 million by selling 3.1 […]
View More How a Chinese anti-virus software maker builds a fintech firm to wrestle with giantsStarbucks adding delivery services to more than 2,000 stores via Uber Eats
Starbucks is expanding its partnership with Uber Eats to more than 2,000 stores in the United States next year, about a quarter of all of the company’s locations in the country. The relationship bolsters Uber’s mission for its on-demand food delivery service, Eats. Uber has said it plans to cover more than 70 percent of […]
View More Starbucks adding delivery services to more than 2,000 stores via Uber EatsIndonesia e-commerce leader Tokopedia raises $1.1B from Alibaba and SoftBank’s Vision Fund
Indonesia-based e-commerce firm Tokopedia is the latest startup to enter the Vision Fund after it raised $1.1 billion Series G round led by the SoftBank megafund and Alibaba. SoftBank and Alibaba are existing investors in the business — the Chinese e-commerce giant led a $1.1 billion round last year, while SoftBank recently transitioned its shareholding […]
View More Indonesia e-commerce leader Tokopedia raises $1.1B from Alibaba and SoftBank’s Vision FundA Chinese ecommerce app that lures grocery shoppers with cash just raised $100M in Series B
There is no shortage of up-and-comers jostling for a spot in China’s massive ecommerce industry, and oftentimes they pick a niche market and present a novel business model different from the establishment of Alibaba or JD.com . Chinese social ecommerce app Fresh Buddy announced on Tuesday that it has raised $100 million in a series B funding […]
View More A Chinese ecommerce app that lures grocery shoppers with cash just raised $100M in Series BChina’s JD.com teams up with Intel to develop ‘smart’ retail experiences
Months after it landed a major $550 million investment from Google, China’s JD.com — the country’s second highest-profile investor behind Alibaba — has teamed up with another U.S. tech giant: Intel. JD and Intel said today that they will set up a “lab” focused on bringing internet-of-things technology into the retail process. That could include […]
View More China’s JD.com teams up with Intel to develop ‘smart’ retail experiencesTencent-backed fleet manager G7 racks up $320M in funding
A sizable funding round is poised to heat up a race to automate China’s logistics infrastructure. Beijing-based fleet management company G7 announced on Monday that it has banked $320 million to drive technological development, bringing its total capital raised to around $500 million. G7, which runs a proprietary connected platform for trucks, shippers, fleet manager and […]
View More Tencent-backed fleet manager G7 racks up $320M in fundingAlibaba Group takes majority control of loss-making movie unit Alibaba Pictures with $160M share purchase
Alibaba Group announced today that it will increase its stake in Alibaba Pictures from 49% to 50.92%, making it the loss-making movie production company’s controlling shareholder. Under the agreement, Alibaba Pictures will issue one billion new shares, priced at HKD $1.25 each share for a total of HKD $1.25 billion (about $160 million), to Alibaba […]
View More Alibaba Group takes majority control of loss-making movie unit Alibaba Pictures with $160M share purchaseMogu’s long journey: From rejecting Alibaba’s advances to US IPO
Mogu, a Tencent-backed service that offers fashion content and products to young women, has joined a string of Chinese tech companies pressing ahead to sell their shares through initial public offerings in the U.S. before year’s end. Mogu priced its sale at $14 per share on Wednesday, toward the lower end of a marketed range. […]
View More Mogu’s long journey: From rejecting Alibaba’s advances to US IPOAlibaba replaces video streaming boss amid anti-corruption probe
A top-level reshuffle is sending shockwaves across one of China’s biggest online video businesses. Yang Weidong has stepped down as the president of Alibaba’s video streaming unit Youku, the ecommerce operator confirmed to TechCrunch on Tuesday. Yang is understood to be assisting the police with an investigation into “an alleged case of seeking economic benefits,” […]
View More Alibaba replaces video streaming boss amid anti-corruption probeEasyship, a Stripe for global e-commerce shipping, raises $4M
Easyship, a Hong Kong-based startup that aims to make international shipping for e-commerce as easy as payments, has closed a $4 million Series A round. The company was founded in 2015 by former Lazada duo Tommaso Tamburnotti and Augustin Ceyrac, and ex-banker Paul Lugagne Delpon. From their time with Lazada, the then-Rocket Internet -owned e-commerce site […]
View More Easyship, a Stripe for global e-commerce shipping, raises $4MChina’s iQiyi to offer $500M convertible note as content costs balloon
Chinese video streaming service iQiyi is raising new cash as it feels the squeeze from surging content costs. The video business, which is owned by China’s online search giant Baidu, said on Wednesday that it will issue $500 million in convertible senior notes. Proceeds from the offering will go towards content and technology investments as […]
View More China’s iQiyi to offer $500M convertible note as content costs balloon