Cheyipai, a leading domestic second-hand car trading platform, announced on its microblog today that the company secured $50 million of capital injection led by Sequoia Capital and followed by Morningside Ventures, Matrix Partners, and CITIC Capital (source in Chinese). The fund will be used to optimize the user experience and establish service networks all over the country. Founded in 2009, the company’s […]
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Outbound Tourism Special Sales Site Lailaihui Secured Millions of Dollars in Series A Funding
Lailaihui, a special sales site for outbound travelling services, has received millions of dollars in Series A financing led by CDH Fund and followed by existing angel investor Unity Ventures. The capital will be used in the construction of call center and platform, as well as the expansion of product lineups. The site’s monthly turnover […]
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VIPShop Buys 75% Stake in Online Beauty and Fashion Retailer Lefeng.com
Chinese online discount retailer VIPShop (NYSE: VIPs) announced today it has acquired 75% stake in Lefeng.com — aka LAFASO, an online beauty and fashion retailer, for USD132.5 million. Since VIPShop has been centered on clothing/shoes/bags while Lefeng’s focus is cosmetics, the two companies are complementary. Lefeng was established in 2008 as a subsidiary of Ovation Entertainment Ltd. — The TV […]
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This Valentine’s Day from the birthplace of the KamaSutra comes an app that lets you send virtual kisses
India might be the birth place of the KamaSutra but kissing in public is still rare and can raise eyebrows in India. “In India, Kisses Are on Rise, Even in Public” reads this NYT article which talks about rising tolerance towards public display of affection including kissing in Indian society. Kissing might still be taboo […]
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Gain insights into the Mobile App Market in China at ‘TechNode Touch’ Meetup in Beijing
Join us for our February monthly meetup in Beijing – ‘TechNode Touch’. TNT aims to bring together the startup and technology community in Beijing regularly at our newly launched co-working space ‘The Node’ in the 751 D-park in Beijing, which is part of the trendy 798 art district. TNT is not only a networking event for […]
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Uber for China Now Supports AliPay Payment
After landing in Shanghai for a trial period started last August, the U.S. car rental service Uber is officially launched in Shanghai today. To localize their service for Chinese market, Uber released a new Chinese name “优步” (a great step forward in Chinese). More importantly, it adds AliPay as a form of payment and just […]
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Smart Body Scale Maker PICOOC is Raising $20 million in Series B
PICOOC, a Beijing-based smart body scale maker, is raising $20 million in Series B funding. As the round hasn’t been closed, PICOOC didn’t disclose the investors. Body scale that can record and analyze health metrics isn’t new. But thanks to the maker hype, products like the well-designed PICOOC Latin drew much attention from media and consumers. As we […]
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Online Retailer JD.com to Launch Consumer Credit Line
Chinese online retailer JD.com will roll out consumer credit line tomorrow (Feb.13th), just in time for Feb 14th, the Valentine’s Day and Chinese Lantern Festival 2014. JD users will be granted up to 15,000 yuan (roughly USD2500) credit. Consumers can choose to pay in full within 30 days or make monthly installments in 3-12 months. […]
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Sungy Mobile Acquires American Mobile Ad Network GetJar
Sungy Mobile Ltd. (NASDAQ: GOMO) , a Chinese mobile software developer, announced today acquisition of GetJar, a California, U.S.-based mobile ad network, for USD5.3 million in cash and up to 1,443,074 Class A ordinary shares ‘as earnout payments if certain performance targets are achieved’ by early 2016. Sungy Mobile is one of the recent success stories […]
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Metaps Platform Apps Surpass 1 Billion Downloads
Tokyo-headquartered app monetization service Metaps announced that the total downloads of apps on the Android monetization platform “metaps” has surpassed 1 billion. Metaps is an Android monetization platform that supports developers by providing them with the necessary tools and know-how to successfully attract and engage users. The metaps platform consists of the Freemium Ad Network […]