Tencent reportedly invests $150M in cinema ticketing startup Maoyan

 Tencent announced another impressive quarter of financials yesterday, but the Chinese internet giant — which is creeping towards a $500 billion market cap — made other financial moves this week. Reuters reported that the firm invested $150 million Chinese cinema ticketing startup Maoyan, which was created from a merger between dominant players Maoyan and Tencent-backed Weiying… Read More

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China’s biggest search engine unveils a smart speaker, the first of its AI products to come

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Google Home and the Amazon Echo have new competition.

Baidu, which runs China’s most popular search engine, has produced the Raven H, a voice-activated speaker that runs on an artificial intelligence platform.

The Raven H is the first product in Baidu’s upcoming AI plan, following its acquisition in earlier this year of Beijing-based smart home startup, Raven.

‘Humans & machines have been interacting w/ one another for years, but raven H aims to create a world in which this interaction is seamless.’ – Cheng (Jesse) Lyu, Raven founder & Baidu GM https://t.co/2lrqrxtgUs#BaiduWorld ~*Bring #AI to Life*~ pic.twitter.com/HQFun4bKmR

— Baidu Inc. (@Baidu_Inc) November 16, 2017 Read more…

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Please enjoy Pharrell’s very cringeworthy song to celebrate China’s biggest shopping day

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As they say, everyone has a price.

Pharrell co-wrote and performed a new song in China to celebrate Singles’ Day — the world’s biggest shopping holiday.

This year, Chinese shoppers spent $25 billion on Alibaba’s Taobao site in just 24 hours, blowing events like Black Friday completely out of the water.

Pharrell and his co-performer, Chinese-Canadian singer Kris Wu, were onstage for Alibaba’s huge extravaganza celebrating the shopping day. 

There’s no way any description could do this song justice, so you’ll have to just listen for yourself: Read more…

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View More Please enjoy Pharrell’s very cringeworthy song to celebrate China’s biggest shopping day

Tencent’s profit surges 69% thanks to its thriving games business

 Tencent, Asia’s highest-valued technology company, has smashed analyst forecasts for its Q3 2017 after it posted a profit of 18 billion RMB ($2.7 billion) on revenue of 65.2 billion RMB ($9.8 billion). That blew past expectations of 15.7 billion yuan and 61 billion yuan, according to analysts polled by S&P Global Market Intelligence, thanks to its high-performing mobile and PC… Read More

View More Tencent’s profit surges 69% thanks to its thriving games business

Qualcomm announces investment in Mobike and eight other Chinese startups

 Qualcomm is continuing its charm offensive in China, a critical market where it has suffered hard blows in recent years including a $1 billion anti-trust fine, after it announced a flurry of new investments.
These are chaotic times for Qualcomm, which is fielding unwanted acquisition interest from Broadcom and battling Apple in court, but today it put the focus back on supporting upcoming… Read More

View More Qualcomm announces investment in Mobike and eight other Chinese startups

China now has more supercomputers on the world’s top 500 list than the U.S.

China has reached a supercomputing milestone.
The country now has more machines on a list of the world’s 500 fastest supercomputers than the U.S. 
SEE ALSO: Nvidia’s new supercomputer is designed to drive fully autonomous vehicles
China has 202 …

View More China now has more supercomputers on the world’s top 500 list than the U.S.

Amazon’s AWS business is reportedly pulling out of China

aws logo It looks like Amazon is removing itself from the Chinese cloud services industry on account of stringent new data laws that went live in the country earlier this year.
The U.S. company has agreed to sell its China-based web services business to Beijing Sinnet, the local partner that operates it, according to a filing on the Shenzhen Stock Exchange that was noted by The Wall Street Journal… Read More

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Chinese shoppers spent $25 *billion* on Alibaba’s Singles Day

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Singles Day is like if Amazon Prime Day was a real national holiday. And this year, shoppers in China spent $25 billion in 24 hours. 

The 8-year-old e-commerce holiday promoted by Alibaba—Amazon’s biggest competitor and an e-commerce force in China—started as an anti-Valentine’s Day encouraging single people to buy gifts for themselves every Nov. 11. Now, it comes with crazy deals and nationally televised concerts. This year, Nicole Kidman and Pharrell Williams made appearances. 

Shoppers spent $25.3 billion, or 168.2 billion yuan, this year—a 40 percent jump from last year’s $17.8 billion. That’s 1.48 billion transactions, or 256,000 transactions per second at the day’s peak.  Read more…

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China’s second largest e-commerce firm just showed Alibaba has serious competition

 Alibaba invented China’s biggest shopping day — 11/11 aka Single’s Day — and it dominates the headlines with record sales year-on-year, but another company just stepped out to remind us that others are busy trying to close the gap. JD.com, the perennial challenger to Alibaba’s e-commerce empire in China, just revealed its 11/11 figures for the first time. While… Read More

View More China’s second largest e-commerce firm just showed Alibaba has serious competition

An app where teenagers lip synch reportedly got bought for $1 billion

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$1 billion. That was the price tag for what’s cool, according to Justin Timberlake Sean Parker’s conversation with Facebook cofounder Mark Zuckerberg.

Apparently, it’s still true. 

Musical.ly just sold to Beijing Bytedance Technology, the companies announced Friday. The price tag was between $800 million to $1 billion, the Wall Street Journal reported. If you haven’t heard of Musical.ly, you may be old — or perhaps you just forgot about it. 

After launching three years ago, the smartphone app quickly became a viral sensation. The concept was simple: Create 15-second music videos. Tweens and teens became obsessed with lip-syncing to their favorite songs. By 2016, it had attracted 100 million users. It even launched some new social media stars like Jacob Sartorius.  Read more…

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View More An app where teenagers lip synch reportedly got bought for $1 billion