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Alibaba acquires stake in Wanda Film as the entertainment conglomerate scales back on debt

Yesterday, real estate and entertainment conglomerate Dalian Wanda Group announced (in Chinese) that it had sold a 12.77% stake in its film subsidiary, Wanda Film, for RMB 7.8 billion ($1.24 billion dollars). The buyers of the minority stake are e-commerce giant Alibaba and the state-backed Cultural Investment Holdings. Alibaba will be acquiring a 7.66% stake […]

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Tencent-Baidu-Wanda Unveil E-commerce Site Ffan To Compete With Alibaba

One year after its establishment, Tencent-Baidu-Wanda’s e-commerce joint venture has finally rolled out e-commerce service Ffan to tap into China’s O2O e-commerce industry. In essence, Ffan is an open platform  that aims to redirect online users to all kinds of offline services, such as parking, reservations at restaurants, and purchasing film tickets and products at discounts. The […]

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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 […]