55Tuan Restart IPO Plan: Rumor has it that China’s group buying service 55Tuan reinitiated its IPO plan to get listed on NASDAQ raising between US$ 100 million and US$ 200 million with UBS as its underwriter. The company scheduled to go public in 2011 in the first place but postponed it largely due to credibility crisis plaguing market and investors’ concerns over US-listed Chinese companies‘ accounting problem.

Lashou, another Chinese daily deal site put off its IPO roadshow in last year as well with no exact timetable to restart it.

 

TMall Changs its Name: Tmall, the B2C online shopping mall by Taobao announced today to change its Chinese name from Taobao Mall (淘宝商城) to 天猫, which means “sky cat” in Chinese. Many Chinese people commented on the news saying laughing their ass off. Zhang Yong, president of the service said that cat represents fashion, trends, quality and sexy. Also according to him, the kinda floating in the air cat brought in more than RMB 100 billion (US$ 15.8 billion) in 2011 with more than 10 million of daily UV.

More Than 505M Internet Users in China: According to the statistics compiled by CNNIC , as of November 2011 China has more than 505 million Internet users with a penetration of about 37.7%, up 3.4% from the year earlier, while mobile Internet users surpassed 340 million.

 

360buy Spending 46.7M Buying Commercial Property: According to local report, 360buy bought a commercial property (building area between 186896.2 and 209402.4 square meters) for RMB 295 million (US$ 46.7 million) in Beijing Economic Technological development area, in Daxin District of Beijing.