UZwan, a HTML5 gaming platform developed by Jincan Network, secured tens of millions yuan in Series A funding from Qingsong Fund (report in Chinese). UZwan is principally engaged in providing distribution, promotion and billing services to online games created with HTML5- the new markup language revision. Compared with App games, HTML5 games spared players from downloading […]
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UC Web Pitching “Light App” in the US. Amazon Signed up.
The Light App was coined by Baidu who announced the program two months ago, encouraging developers to build webapps/hybrid apps so that in-app content can be indexed by Baidu search engine easier and users will be able to access mobile content without leaving Baidu platform. Now UC Web says they support Light App and is pitching the […]
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Lottery Service 500.com Filed For NYSE IPO
Online sports lottery service 500.com just filed with the SEC, planning to raise $150 million in an IPO on the NYSE under the ticker symbol of WBAI. 500.com is an aggregator and processor of lottery purchase orders from registered user accounts and currently derive substantially all of the revenues from service fees from provincial sports lottery administration […]
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Sungy Mobile Files for IPO in the U.S.[Updated]
Chinese mobile content and service provider Sungy Mobile files for an NYSE IPO to raise up to $80 million, under the ticker GOMO. [Update: Sungy Mobile would go IPO on the NASDAQ instead on November 22, 2013 ] Sungy Mobile was founded in 2003, starting from a mobile portal, 3G.cn, based on the WAP and then Symbian. 3G.cn […]
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Renren Rumored to Sell All Unprofitable Services Including the Facebook Clone
It is rumored that Renren is looking to sell all businesses except Renren Games, the only profitable business the company has. All the unprofitable include the Facebook clone Renren.com, the rest of Nuomi Baidu hasn’t taken, and online video service 56.com. Another rumor says the one that will take over all of those is Baidu. […]
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360, 37wan, YY Game Formed Exclusive License Game Alliance, Challenging Dominance Of Tencent Game
Qihoo’s 360 Game Center, 37wan.com and YY Game, three leading domestic gaming platforms, will establish an alliance for exclusive licensed web games this November (report in Chinese). Under the agreement, the three members of the alliance will share operation resources and launch in-depth corporations. Games that granted exclusive operation licenses to any member of the […]
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Morningside Ventures Poured $2 Million In A Third Auto Service Startup Chemayi
Chemayi, previously known as Chepinmall, received $2 million of Series A Financing from Morningside Ventures (report in Chinese). The capital will be used to optimize the ordering process and UI design. The company disclosed that it will launch offline promotion and integration of merchants when Series B financing is secured. Chemayi is a C2B car aftersales […]
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Alibaba Reportedly Acquiring Social Shopping Service Mogujie for $200 million
Update: Mogujie would announce US$200 million funding, instead of acquisition, from a group of investors excluding Alibaba in June 2014. Alibaba Group reportedly is near acquiring Mogujie, a Pinterest-style social shopping service for $200 million. Mogujie was founded by former Alibaba employees and is based in the same city as the e-commerce giant. Launched in […]
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Tencent to Share Emoticon Sales with Third-party Designers
Tencent plans to build a platform for independent designers to contribute emoticon designs, promising to share future revenues generated from QQ IM or mobile apps with them. The company will share 40%, 50% or 70% with designers, depending on the monthly sales of a series of emoticons — Tencent takes 30% if the monthly sales […]
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Chunyu, Mobile Health App, Released 4.0 Version
Chunyu, a mobile health app, unveiled 4.0 version which integrates the previous inquiry and disease searching functions into a searching engine (report in Chinese). The searching results include information of different diseases, nearby doctors, therapeutic methods, and Q&A. Since lots of patients ask similar questions, Chunyu established a searching engine with new algorithm and rich […]