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Report Says Meituan.com Receiving Highest Customer Satisfaction
[Translate] Meituan, China’s daily deal site founded by serial entrepreneur Wang Xin, topped the list of Chinese group-buying sites in terms of customer satisfaction, according to report by DCCI, Data Center of the China Internet. The report shows that 61% of Internet users have participated in group buying activities while only 4% have never heard...
TechMorning: Sina Acquires 9% Of Tudou; 1000 Times Increase In Copyrighted Content Costs Compared To 5 Years Ago
[Translate] 1. Shanda Reports Q2 2011 Financial Results, Gross Profit Was US$145.5 Million Shanda announced its unaudited consolidated financial results for the second quarter ended June 30, 2011, its net revenues increased 5% quarter-over-quarter and increased 26% year-over-year to US$264.2 million. However, when its comes to Net Income Attributable to Ordinary Shareholders, things didn’t look...
eBay Seeking Acquisition Targets in China
[Translate] Techweb reported that that eBay is eyeing acquisition targets in China to expand its market share. eBay expects 2011 sales from Greater China to increase by 30-40% from last year’s USD$4 billion sales figure. Cautious of the high valuations, Asia Pacific Managing Director Jay Lee said “We will continue to identify suitable opportunities, but...
Dianping CEO Says Daily Deal Company Downsizing is Inevitable
[Translate] Zhang Tao, the CEO of Dianping, the most popular Yelp-like local merchant recommendation platform in China, has publicly announced that the Daily Deal market will face corporate downsizing over the next few months. The comment comes after Gaopeng’s office closures. The reason he gives is that currently the Chinese Daily Deal market is ultra...
Qihoo 360 Releases Mobile Messaging Service Kouxin
[Translate] Qihoo 360, the Nasdaq listed internet security software vendor, delivered its own solution to mobile messaging with the debut of a kik-like service: Kouxin(口信, means oral message in Chinese). According to Hu Hao, the vice president of Qihoo, Kouxin is an address book-based social and communication tool that focus on friends and real connections....
The Struggling Group Buying Model in China – Gaopeng the Biggest Victim
[Translate] According to Dataotuan, a Chinese daily deal aggregator and analytics company, the trend shows that deal quantity is increasing but deal quality is decreasing. Simply put, daily deal effectiveness is deteriorating. Dataotuan has tracked the number of deals launched and sold since May and it reveals that although more deals are being created, the...
Meituan Delivers US$ 15M Sales Record In July
[Translate] According to Wang Xin, CEO of group buying service Meituan, the company generated record sales in this July of over RMB 100 million (US$ 15.67 million), up 20% month-over-month. Meituan landed a total of RMB 230 million (US$ 36 million) in last year’s sales, while for this year the volume is expected to be...
Sohu Announces US$100 Million Stock Buy-back Plan
[Translate] Aug. 29, 2011, Sohu.com Inc. (Nasdaq: SOHU)announced that its Board of Directors has authorized the company’s plan to buy back up to US$100 million of the outstanding American Depositary Shares (ADS) of Changyou.com Limited (Nasdaq: CYOU), Sohu’s online gaming subsidiary, and/or outstanding shares of common stock of Sohu over a one-year period from Sep.1, 2011...
Innovation Works’ Start-up, Doodle Mobile Raises US$10 million in Series A Funding
[Translate] Doodle Mobile, an Innovation Works’ (IW) incubatee and mobile based game company has closed a US$10 million series A round of funding, led by KPCB and in conjunction with Zero to IPO. Doodle Mobile first moved into the IW next in October 2010. Founder, Wang Ye wanted to focus on the rapidly expanding global...
Sogou Launched Image-based Search
[Translate] Sogou, the search engine curated by Sohu.com, launched its image-based search solution lately by which users can search images based on the pictures they uploaded. According to Ru Liyun, the General Manager of Search Business Division of Sogou, the company has spent half a year and hundreds of thousands USD on the...
TechMorning:Sogou Working On Mobile Open Platform; Best Time To Start A Business In China
[Translate] Morning guys, starting today TechNode is presenting you with up-to-date China technology news roundup on daily basis to offer insights into local startup ecosystem, fresh new projects and more. Here’re today’s updates: 1. 360buy Departed Alipay, At The Cost Of 10% Of Customers 360buy called off its cooperation with Alipay, which according to...
A Peek Into DianDian’s New Office
[Translate] We’ve reported on DianDian’s super fast speed. After only three months in the Innovation Works office, the light-blogging start-up based on the popular Western micro-blog, Tumblr.com, moved out into it’s own office. After raising an whopping US$10 million in funding from Sequoia Capital and Ceyuan Ventures, DianDian founder Jack Xu, wanted to aggressively expand his...
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