Friday, 23 March 2018
What happened: The Financial Times is reporting that Amazon is in talks to acquire the rights to Three-Body Problem, the sci-fi trilogy by Chinese author Liu Cixin that won the 2015 Hugo Award for Best Novel, a prestigious prize for science fiction.
Why it’s important: The reaction to the news is interesting, with many Chinese fans applauding Amazon making a screen adaptation of Three-Body Problem. The TMTPost article analyzed why Amazon producing Three-Body Problem would better than a Chinese company doing it. This included the lack of capital and experience in producing a sci-fi TV series of this scale and also Chinese media companies’ focus on the numbers (views and profits) instead of quality. – Linda Lew
What happened: Deals by Tencent and Alibaba have made technology the sector seeing the biggest spending in outbound M&A in 2017, according to a survey by Hurun Research and DealGlobe.
Why it’s important: 25 of the top 100 deals were in the technology sector last year, up from 12 in 2016. Spending RMB 61 billon between them, Alibaba and Tencent and affiliates alone accounted for 7% of the value of the top 100 outbound M&A activity. 25 of the top 100 were by tech companies, thought the value of the top 100 fell 37% on 2016, due in part to restrictions on investments in China and elsewhere. The protection of IP is a priority for Trump who has just announced tariffs will be applied on Chinese trade–investment restrictions will be part of this. -Frank Hersey
或被大股东抛售百亿美元股票，腾讯股价何处去 – Yicai
What happened: Naspers, Tencent’s biggest shareholder, has announced its intention to sell US$10.6 billion of its holding in the Chinese technology company.
Why it’s important: This is the first time the South African firm has sold shares in Tencent since it first invested in 2001. Analysts are now worried that the news of a selloff by a major shareholder along with underperformance will put increased pressure on the company’s stock price and dampen investor sentiment. —Chris Udemans
What happened: On March 22nd, Niu Kewang(牛客网) revealed that it completed a series of tens of millions of RMB in Series A financing, led by 58Tongcheng.
Why it’s important: Since Niu Kewang is continually invested by 58 Tongcheng, Chinese craigslist the startup has a high chance of growing its user base. This is a very smart way of starting business. First target graduates, then find their need to build up a vocational education program. The problem in the market is the gap between what we learn from the school and what’s really needed for the job. As algorithms and machine learning are both important areas, the startup might attract a lot of students —Eva Yoo
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