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A New round of EComm War: Tencent and 51Buy Show Confidence
[Translate] Yesterday we reported that Tencent was restructured into six groups, through which the Penguin Emperor set up a wholly owned subsidiary called Tencent E-Commerce Holding Company. It seems that Tencent’s grander plan of intensifying the Chinese e-commerce competition just surfaces. On May 16th, B2C site 51buy.com (Yixun in Chinese) announced that Tencent had taken...
Are You the Chinese Jeff Bezos?
[Translate] Lei Jun, the renowned Internet tycoon and CEO of Xiaomi, had a lot to say in the recent Global Internet Mobile Conference, where he shared his thoughts on a number of topics. For example, Mr. Lei claims that traditional business logic does not apply to the Internet. There is certainly some truth to that....
Chinese OTA 17u.cn Raises New Round, Preps for IPO
[Translate] Chinese online travel agency 17u.cn announced raising RMB ten of million from the Internet juggernaut Tencent. The deal valued the travel site at RMB over 500 million, industry insider speculated. 17u has initiated the IPO process after the financing, according to people familiar with the matter. Wu Zhixiang, CEO of the China southern Suzhou-based...
Japan’s Rakuten Ends B2C JV with Baidu Due to Ferocious Competition
[Translate] How tough is the competition in China e-commerce market? Just ask Rakuten. The Japanese e-commerce giant announced yesterday to close down China business Rakuten.cn with Baidu, a local search market dominator, a move also highlighting Baidu’s successive failure in stepping up its e-commerce effort following the shut-down of Youa Baidu’s approach to C2C in...
Rumor: Lafaso Completed New Round
[Translate] Local media broke today that Lafaso.com, a cosmetic etailer founded by celebrity anchor Li Jing has raised US$ tens of millions lately. Lafaso hasn’t commented on the rumor yet. The site was formally funded by Sequoia China at its founding in 2008. Wang Licheng, its CEO said in an interview earlier this year that...
Jiuxian Taking over Dangdang Wine Business
[Translate] China’s Dangdang announced today that Jiuxian.com has taken over the NYSE-listed company’s wine e-tailing business, a move highlighting that DangDang is taking another step forward into its B2C open platform strategy. Prior to the teaming-up, DangDang has introduced Letao (shoe vertical), Gome (3C) and Moonbasa (apparel) into its open platform. Founded in September 2010,...
Gaopeng, the Groupon China to Merge with FTuan?
[Translate] Words have been whirling that Gaopeng, the JV of Groupon and Tencent would be merged with FTuan, another Chinese daily deal service invested by Tencent by the end of next month, a move highlighting Groupon’s retreating and that Tencent’s gaining more control over the venture. It is said that Gaopeng’s keeping losing money made Groupon begin...
Subscribe for a Full Box of Surprise
[Translate] Spurred by both abundant venture capital and aspirational entrepreneurs, China ecommerce sector has seen the rise of a battery of new business models in recent years. For instance, Meituan and Lashou introduced group buying to China market in 2010 with thousands of followers going after the so-called O2O market. Last year three new innovative...
Rumor: 360buy to Start Proprietary Clothing Brand Soon
[Translate] Local media broke that 360buy is about to start a proprietary clothing brand soon following the debut of Dangdang Youpin (or 当当优品), the new home furnishing brand made available by Dangdang.com, the NASDAQ-listed Chinese online B2C giant. Dangdang Youpin Wu Sheng, the former VANCL veteran and VP is said to oversee 360buy’s clothing brand...
China Ecommerce Roundup: VANCL, Rakuten, Meituan and Suning
[Translate] 1. VANCL Loses Brand Marketing VP: Rumor has it that VANCL lost its Brand Marketing VP Yang Fang, following the resignation of its CFO Zhu Jiwen and its founding member/VP Wu Shen in last year. VANCL postponed its scheduled IPO this year due to market turmoil. The company currently is under a lot of...
360buy to Ramp up Jewelry Effort
[Translate] 360buy announced today to ramp up its jewelry e-tailing business with partnership with some of the top-notch Chinese jewelry name brands as well as retailers including Hong Kong-based Chow Sang Sang, Shanghai-headquartered ZBird.com and so forth. The Beijing-based company is targeting at RMB 700 million sales for the effort by year-end. 360buy, or Jing...
360buy Claims 37% of China’s B2C Market
[Translate] Chinese 3C etailer turned online department store 360buy claimed more than 37% of China’s B2C market, according to Zhang Shouchuan, the Beijing-based company’s vice president. Taobao Mall, the B2C subsidiary of Alibaba which just changed its Chinese brand name to Tianmao (translates to Sky Cat in Chinese) secured over 50% market share under its...
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