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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 […]

Posted inEventsUp and Comers

“Many Chinese VCs will die”: Incubation and acceleration at TechCrunch Hanzhou

The vibrant Chinese tech and startup ecosystem is attracting huge attention from investors and institutions hoping to grab a place in the heated innovation competition. According to Crunchbase’s latest analysis, in the second quarter of 2018, Chinese startups raised 47% of all reported VC dollar volume whereas North American companies raised 35% of the whole pie. […]