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 […]
The JD.com and Wanda-backed group has suffered rumors of production problems.
Chinese public attitude towards gaming no longer sees it as a waste of time.
The company reportedly inked the deals at 10% to 20% below the going price for acquiring new users.
Chinese social media Weibo comes under fire for the loopholes in lottery drawing algorism.
“We are not dead, and PandaTV is about to profit,” PandaTV’s Chief Operation Officer Zhang Juyuan told local media.
Matt and John try to understand the recent (and not so recent) moves by China’s internet giants into offline retail. Links Alibaba to invest $4.6 billion in China electronics retailer Suning JD vs Alibaba: The war for China’s fresh food Alibaba is revamping China’s offline retailing through a bottom-up approach Tencent to challenge Alibaba’s new […]
This week we talk the recent EmTech China conference, AI, blockchain, and Tencent’s move into the offline world. Download this episode Links Blockchain buzzwords, changes, and challenges: EmTech China blockchain panel EmTech China reveals what jobs will be left for humans after AI takes over Tencent may invest in Carrefour China as internet giants extend […]
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. […]
As “new retail” changes from jargon to oft-used phrase, Tencent has thrown their hat into the ring. However, they don’t plan on opening their own stores (the WeChat pop-up seems to have been exactly that). Rather they want to be the foundation to help the retail industry achieve two goals: the digital upgrade of stores and […]