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Posted inNews

Tencent Restructures Ecommerce Business

On May 30, Tencent, one of the most profitable Chinese internet giant, restructured its ecommerce business in its latest effort to catch up in the booming internet shopping market and compete against Alibaba, the de facto Chinese ecommerce tycoon. Along with the restructuring came internal reorganization and position transfer of executives. Tencent replaced the current […]

Posted inNews

Shanda to Discontinue MochiMedia China Business?

Shanda Games, the online gaming subsidiary of Shanda Interactive Entertainment Limited is about to discontinue MochiMedia China business after announcing closing down Ju Xin (Big Stars), an online Karaoke platform as part of a broader move to streamline and restructure its portfolio, according to people familiar with the matter. Shanda Ju Xin has been in […]

Posted inNews

Chinese LBS Service Digu Sheds 70% of Staff

Digu.com, one of China’s largest LBS service is reducing 70% of its employees due to uncertain Series B round of funding and glimmer profitability prospects, according to people familiar with the matter. Li Song, founder of Digu.com admitted that the company is restructuring, but denied the funding dilemma. “There’s no clear business model for mobile […]

Posted inNews

Baidu Announces Restructuring

Baidu, the largest Chinese search giant, announced a restructuring plan of its business lines including sales, commercial operations, user products and technologies, commercial products and technologies(cloud computing and mobile included), and said it will implement an executive rotational program in an attempt to spur innovation and efficiency. This is the biggest ever organizational restructure since […]

Posted inNews

CDC Corp. Filed for Bankruptcy Protection, Rise and Fall of the First China Concepts Stock

CDC Corporation. (NASDAQ: CHINA), the company behind China.com and many other businesses and the first Nasdaq-listed Chinese internet company has filed for bankruptcy protection, highlighting the company’s years of struggle has finally accumulated to the extent that it couldn’t deal with anymore, driving the company’s stock down more than 50% on Nasdaq. Founded in 1997, […]

Posted inNews

Alipay Shifted to Jack Ma’s Private Company To Speed Up Getting Government LicenseAlipay Shifted to Jack Ma’s Private Company To Speed Up Getting Government LicenseAlipay Shifted to Jack Ma’s Private Company To Speed Up Getting Government License

According to a SEC filing, Alipay, the payment business of Alibaba Group was restructured so that it is now controlled by a separate company, owned mostly by Alibaba Group Chief Executive Officer Jack Ma.  Yahoo said the shift was necessary to expedite getting a license for Alipay. Last year, Chinese government started to formally regulate its […]

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