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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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China’s Ticketing Site LY.com Lands Nearly $1B USD Funding Led By Wanda Group

LY.com (formerly 17U.com or Tongcheng), one of China’s largest ticketing websites, has secured more than 6 billion RMB ($967 million USD) funding from a consortium led by Chinese real estate conglomerate Dalian Wanda Group, Tencent Industrial Capital, CITIC Capital Holdings as well as other institutions. The company did not specify the stakes each investors are acquiring. The investment, which marks […]

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Real Estate Platform Fangdd Announces Funding As China Eases Real Estate Bans

Fangdd, a popular Chinese real-estate platform announced they had closed a series C funding of $223 million USD led by Fountainvest Partners this July. The company announced series B funding of $80 million USD just two months ago from Vision Knight Capital China Fund, Lightspeed China Partners, and CDH Venture Partners. The Chinese government has recently eased restrictions on owning multiple […]

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Top 3 Funding Stories From China This Week: CrazyCDN, Suishouzan, Mtime

CDN Provider CrazyCDN Lands $10 million USD Series A CDN (Content Delivery Network) Provider CrazyCDN announced a $10 million USD series A led by Morningside Ventures. The Shanghai-based company is co-founded by Alibaba’s Xiao Zhi Ming and Alibaba vice president Dr. Lu Peng. Wealth Management Company, Suishouzan Receives Several Million RMB Seed Funding From Gobi Partners Wealth management company, Suishouzan […]

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eLong Announces Privatization Bid From Tencent

 ELong, one of China’s largest online travel services, today announced that its board of directors have received a privatization offer from existing shareholder Tencent, which hopes to acquire all remaining shares in the company.  Tencent offered shareholders $18 per American Depositary Receipt (ADR), a 27 percent premium to Monday’s closing price in New York, according to […]