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 3rd party market research firm will cost the online retailer up to 10% of customers.
The company said it’s because Alipay takes too much transaction fee, while analysts suggest that the real cause is 360buy didn’t want Alipay to have access to its sales data.
2. Sogou Building Mobile Open Platform, Working On LBS feature
Google China’s retreat relieved couple of minor players, including Sogou, Youdao and so on. Sogou is now building a mobile open platform leveraging Sogou Map service and LBS function because the search engine believes that in the near future there will be a close tie between geoinformation service and mobile apps, in which Sogou has its unique strength.
Combining mobile search with LBS is what Sogou has been working on for a while with much effort.
3. China Entered The Best Era For Starting A Business
Xiong Xiaoge, the IDGVC partner, said that now it’s the best era of China to start your own business.
He believes that internet has become a major boost to China’s economy. China has the most internet users and mobile users around the world. Compared to companies like Apple, Google, who rely on overseas market for strong sales, Chinese companies are luckier because the sheer China market is big and strong enough to support their growth. Also, China now enjoys the highest foreign exchange reserve in the world.
Hope you enjoy them, and see you guys tomorrow.