Shanghai FFT, a leading electronic bill presentment & payment (BEPP) platform in China, announced that the company has suspended support for AliPay payment in a bid to guarantee convenient and safe payments on the platform. FFT started to support AliPay payment since 2009. The platform noted in the statement that they made this decision to avoid the reoccurring […]
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Riding the Wave of Smart Hardware, Chinese Electronics Components e-Retailer Cogobuy to Go IPO
Cogobuy, established in 2011 by Cogo Group (NASDAQ: COGO) — one of China’s largest electronics components distributors, is an online retailer for electronics components. Thanks to the success of its parent company, Cogobuy would quickly gain traction. The annual transaction volume through Cogobuy in 2013 increased four fold than the previous year that reached RMB4 billion (more […]
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Xinhuanet, Internet Arm of China’s State-backed Xinhua News Agency, Files for IPO at SSE
Xinhuanet, the Internet portal of state news agency Xinhua, has filed with the China Securities Regulatory Commission for an IPO at Shanghai Stock Exchange. According to the prospectus, the company planned to issue 51.90 million new shares for 1.497 billion yuan (around $240 million), pushing the company’s total capital stock to 208 million shares. The […]
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Tencent Takes 19.9% Stake in Chinese Local Listing Site 58.com for $736 million
58. com (NASDAQ: WUBA), one of the largest local listing sites in China, announced that Chinese Internet giant Tencent has agreed to invest US$736 million for a 19.5% stake in the company on a fully-diluted basis. 58.com will be integrated into Tencent properties that include QQ IM, news portal QQ.com, QQ Browser and, the most encouraging, […]
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Jack Ma-owned Company to Acquire Stake in Chinese Fintech Service Provider Hundsun
In a regular press conference held by Ministry of Commerce (MOFCOM) on June 17th, spokesperson Shen Danyang said that MOFCOM has established the case on June 4th of the acquisition of a 100% stake in Hangzhou Hundsun Technologies Group Co. Ltd. (Hundsun Group) by Zhejiang Rongxin Network Technology Co. Ltd., a company that is 99.1% […]
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39.net, One of the First Health Websites in China, is Acquired by Software Developer Longmaster
Longmaster Information & Technology Co. Ltd., a Chinese software developer founded in 1998, announced today to acquire 39.net in cash and stock. The price reportedly is RMB650 million (more than US$100). Launched in March 2000 by China’s state-owned pharmaceutical company 999Group, 39.net was one of the first health websites in China. It was shortly after a wave of […]
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P2B is Becoming the Favorite Online Lending Model of Chinese VCs After P2P Heat Ebbs?
As more investors fell victims to P2P scams, the public started to question the credibility and prospects of China’s booming but still lightly regulated P2P lending industry. As of April this year, there are more than 700 P2P lending platforms in China, according to a report by financial news portal 01caijing. During 2011 to April […]
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2014-15 Israel-Asia Leaders Fellowship Now Opened for Application
Launched by NFP organization Israel-Asia Center in 2011, Israel-Asia Leaders Fellowship develops and invests in the next generation of leaders in Israel-Asia relations, aiming to build a bridge between exciting ventures and exciting regions. The program focuses on Asian and Israeli students who really show potentials to be leaders in that field for the future. The […]
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After Becoming Virtual Network Operator, Chinese Mobile Device Retail Chain DIGITONE Finally Sets to Go IPO
DIGITONE, or D.Phone (Dixintong in Chinese), is one of the biggest mobile device retail chains in China that made the first attempt at an IPO in Hong Kong back in 2005. Earlier this year DIGITONE was of the very first batch of Mobile Virtual Network Operators (MVNO) approved by China’s Ministry of Industry and Information Technology (MIIT) […]
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Alibaba Pressured to Launch an Internet-of-things Service as JD is Announcing the Cloud Service for Smart Hardware Today
JD.com (NASDAQ: JD), one of the largest online retailers and marketplaces in China, is launching a Could-based service for smart hardware today, as we reported earlier. JD launched an app that will be able to control all the smart devices by manufacturers who adopt the communication protocols and sign up to its services. JD has […]