Alibaba has confirmed that it has raised $3 billion for its new-look local services business after it united its Koubei local services business with Ele.me, the on-demand delivery business it recently acquired. The company said it put the capital into the business alongside SoftBank, according to a note within its financial results that were released today. […]
View More Alibaba confirms it raised $3B for its newly consolidated local services businessCategory: alibaba group
Alibaba shrugs off China concerns as revenue jumps 61%
Tencent had an unexpected miss this week, but Chinese rival Alibaba experienced no such issue today as it beat analyst expectation after clocking 61 percent annual revenue growth. The Chinese e-commerce giant reported total sales of 80.92 billion RMB ($12.2 billion) for its Q1 2019, fractionally beating Bloomberg’s estimate of 80.88 billion RMB. The firm record […]
View More Alibaba shrugs off China concerns as revenue jumps 61%E-commerce drives Southeast Asia’s Sea to record revenue but big losses remain
Sea, one of Southeast Asia’s largest internet companies, continues to see losses although its growing e-commerce business helped it hit record revenue. The Tencent-backed company went public back in October when it raised around $1 billion through an NYSE listing. Its latest earnings released today show revenue broke $200 million for the first time ($219.6 million) […]
View More E-commerce drives Southeast Asia’s Sea to record revenue but big losses remainKorea’s Naver backs Southeast Asia-based e-commerce startup iPrice
iPrice, an e-commerce aggregation service in Southeast Asia, has landed a strategic investment from Naver, the Korean internet giant valued at over $21 billion, as part of a follow-on to the startup’s $4 million Series B from May. There’s actually a strong connection around that recent round. It was led by Line Ventures, the investment arm […]
View More Korea’s Naver backs Southeast Asia-based e-commerce startup iPriceSoftBank’s Vision Fund to help Chinese online insurance giant ZhongAn go international
SoftBank’s Vision Fund is backing Chinese online insurance giant ZhongAn through its latest investment, which could take the company — which has struggled for stability following a monster IPO last year — into international markets. The Vision Fund announced today it has made an undisclosed investment in ZhongAn International, the global arm of the five-year-old company created by $200 […]
View More SoftBank’s Vision Fund to help Chinese online insurance giant ZhongAn go internationalWalmart co-leads $500M investment in Chinese online grocery service Dada-JD Daojia
Walmart sold its China-based e-commerce business in 2016, but the U.S. retail giant is very much involved in the Chinese internet market through a partnership with e-commerce firm JD.com. Alibaba’s most serious rival, JD scooped up Walmart’s Yihaodian business and offered its own online retail platform to help enable Walmart to products in China, both on […]
View More Walmart co-leads $500M investment in Chinese online grocery service Dada-JD DaojiaMagic Leap One AR headset for devs costs more than 2x the iPhone X
It’s been a long and trip-filled wait but mixed reality headgear maker Magic Leap will finally, finally be shipping its first piece of hardware this summer. We were still waiting on the price-tag — but it’s just been officially revealed: The developer-focused Magic Leap One ‘creator edition’ headset will set you back at least $2,295. […]
View More Magic Leap One AR headset for devs costs more than 2x the iPhone XFast-growing Chinese media startup ByteDance is raising $2.5B-$3B more
Fast-growing Chinese media startup ByteDance is looking to raise as much as $3 billion to continue growth for its empire of mobile-based entertainment apps, which include news aggregator Toutiao and video platform Tiktok. The Beijing-based startup is in early-stage talks with investors to raise $2.5 billion to $3 billion, according to a source with knowledge […]
View More Fast-growing Chinese media startup ByteDance is raising $2.5B-$3B moreChinese AI startup Tianrang raises a $26M funding round, launches new project to apply ML to cities
Chinese AI startup Tianrang has raised a $26 million (RMB180 million) funding round from China’s Gaorong Capital and co-lead CMB International Capital. Other investors included Ziniu Fund and Chinese fintech company Wacai. In 2016, the company raised an angel round led by Gaorong Capital and participated in by Shanghai Jindi Investment Management Ltd. Based on […]
View More Chinese AI startup Tianrang raises a $26M funding round, launches new project to apply ML to citiesLemonBox brings US vitamins and health products to consumers in China
China is rising in many ways — the economy, consumer spending and technology — but still many of its population looks overseas, and particularly to the West, for cues on lifestyle and health. That’s a theme that’s being seized by LemonBox, a China-U.S. startup that lets Chinese consumers buy U.S. health products at affordable prices. […]
View More LemonBox brings US vitamins and health products to consumers in ChinaChinese tech stocks tumble from more than just trade tensions
Editor’s note: This post originally appeared on TechNode, an editorial partner of TechCrunch based in China. Reports of trade tensions between China and the US in the past few months have been hard to ignore. In early July, the US imposed $34 billion on Chinese goods, prompting the Shenzhen Component Index, dominated by technology and […]
View More Chinese tech stocks tumble from more than just trade tensionsStarbucks partners with Alibaba on coffee delivery to boost China business
Starbucks is palling up with Alibaba as it seeks to rediscover growth for its business in China. China has been a bright spot for some time for the U.S. coffee giant, but lately it has struggled to maintain growth — its China business dragged on its Q3 financials — and it is up against some […]
View More Starbucks partners with Alibaba on coffee delivery to boost China business