Wanda Group, a leading Chinese commercial real estate company, has acquired a controlling stake in 99Bill, a digital payment solution provider. 99Bill will be the digital payments solution for all of Wanda’s businesses, including e-commerce. Wanda has targeted the e-commerce market from 2012, trying to build a Tmall-like business-to-customer marketplace. Realising it’s hard to beat […]
Tencent and Baidu Team Up with Wanda to Challenge Dominance of Alibaba in Chinese E-commerce Industry
Wanda Group, China’s top commercial property conglomerate which is also engaged in tourism, hotels and entertainment, is teaming up with Chinese Internet giants Tencent and Baidu to set up an e-commerce joint venture by investing 5 billion yuan (around US$814 million) on aggregate. Wanda will hold a dominant 70% stake in the joint venture, while Tencent and […]
Apple Pay in China, Could it Happen?
With a large number of already well-established retailers and credit card providers on board, Apple Pay’s future in the USA looks particularly promising. However, in other countries around the world where Apple isn’t necessarily the technological leader, techies aren’t debating how Apple Pay could revolutionize the shopping experience; rather, they’re asking whether or not it will succeed at all.
Real Estate Service Fangdd Raises US$80M of Series B Financing
Fangdd, a Shenzhen-based real estate operation service platform, announced it has secured US$80 million of Series B funding from Vision Knight Capital China Fund, Lightspeed China Partners and Series A investor CDH Venture. The company added that it has received the capital on June 28. Founded in October 2011, Fangdd is a real estate shopping guide information […]