Programmatic advertising technology company PapayaMobile has announced their initial public offering (IPO) on China’s National Equities Exchange and Quotations Index, also known as the New Third Board. With a valuation of 2.2 billion yuan ($337 million USD), PapayaMobile is projecting a revenue of 1 billion yuan ($153.3 million USD) with 100 million yuan ($15.34 million USD) in […]
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Google Play Store Will Come To China In 2016: Reports
This September Google-watchers were buoyed by reports that the play Store may be entering China this fall. However according to sources cited by Reuters, the launch of a China-side Play Store has a much looser timeline: 2016. Google has regulatory hurdles to overcome before they are allowed to pre-install the official version of their app store […]
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China Tech Roundup: Baike.com IPO? Alipay Restructure Rumor
Baike.com set up sales units for IPO? Chinese independent online encyclopedia service Hudong Baike (Baike.com) which raised RMB 100 million in its latest funding in last August reportedly set up regional sales business units based in Beijing, eastern and southern part of China to ramp up sales force and revenue. The move is also interpreted […]
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Tencent to Restructure Mobile Business Again?
Rumor has been whirling recently that Tencent is about to restructure its Mobile Internet Group again after last year’s major reorganization in which the company was divided into six business groups. Local portal site Sina Tech reported that Liu Chenming, EVP of Tencent and president of Tencent MIG (Mobile Internet Group) confirmed his resigning. Ren […]
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Sina CEO Internal Letter on Restructure and “Mobile First” Strategy
Sina just underwent a major shake-up in this week as the company announced a restructure in which its main businesses were split into two major ones, namely traditional portal business and the new Weibo division. Charles Cao, also known by Cao Guowei in Chinese, sent an internal email to all Sina staff on the reorganization, […]
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RedBaby in Integration Process After Suning Acquisiiton
After being acquired by Suning.com four months ago, Chinese maternity-child vertical RedBaby has went through some restructure in an aim to integrate itself more closely into Suning’s platform, starting with a 15% layoff and a new head from Suning to rule over the entity. Chen Shuang, the incumbent COO of RedBaby still runs the company’s […]
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Alibaba CEO Jack Ma Call It Quits, Still Pulling Strings from Behind the Screen
Jack Ma, the legendary founder/CEO and spiritual leader of Chinese ecommerce conglomerate Alibaba announced to step down as CEO of Alibaba by May 10th of this year, citing his “not young anymore” and “opening up room for the younger generations”. He’ll remain as chairman of the group though. The announcement came after Alibaba’s latest restructure […]
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China Tech Roundup: Tencent/Shanda Cleaning up, Mecox Lane Gets New JV
Tencent’s eCommerce effort has been in a real mess for quite a while with a complex and disorganized string of subsidiaries, investment portfolios, brands and so on. They probably have also realized the disadvantages of confusing users with too much similar offerings. The company was rumored to ditches its B2C platform buy.qq.com (an effort to […]
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Vancl: Downsizing for Upgrading
The Vancl downsizing rumors has been a constant topic ever since the company’s blind expansion to areas like electronic and household supplies. The latest one in a string of such rumors is that the Beijing-based online apparel service would be cutting its headcount by 25%. Vancl confirmed the rumor with local media National Business Daily, […]
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Infographic: Tencent Restructure 2012′
Tencent today officially announced its restructure plan to reorganized the heavy-weighted company into six business groups, including TEG (Technical Engineering Group), SNG (Social Networking Group), CDG (Corporate Development Group), IEG (Interactive Entertainment Group), MIG (Mobile Internet Group), and OMG (Online Media Group), which again are consisted of numerous departments and offices, the infographic pictured below could help […]
