Dapu.com, the latest addition to the Chinese vertical B2C playground which is filled with casualties, reportedly raised US$ 3 million in seed funding, according to Wang Zhiquan, it’s founder and CEO. Earlier this year, Wang resigned from his post as CEO with Coo8.com, the 3C-centric etailer he founded in 2006 and sold out to Gome […]
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Thomas G. Tsao’s Wisdoms for VC
Thomas G. Tsao is a forthright and sharp investor; he graduated from Harvard University with a Bachelor’s degree in Economics and has extensive experience in investment banking, merger and acquisitions. Before making waves in Mainland, Mr. Tsao started as an investment banker with Merrill Lynch in New York and has also worked for Dresdner Kleinwort […]
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Xiaomi’s MIUI Launched MIUILove Campaign to Commemorate 10 Million User Milestone
MIUI (pronounced ‘Me–You–I’), developed by Xiaomi, is a ROM for Android devices. It is used on all Xiaomi phones and can be flashed into other Android mobile phones. As one of the most successful ROMs, MIUI takes customization on Android devices to a new level with its limitless themes, wallpapers, icons, lockscreens etc. Today, we heard […]
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360Buy to Establish A Financial Company in 2014
360Buy CEO, Liu Qiangdong, revealed at the company’s annual event that a financial company would be established in 2014. Liu refers to it as a “technology-driven data financial service”. The company launched a financial service to fund suppliers at the end of 2012, but the long-awaited self-developed payment system hasn’t released yet. The company stopped using Alipay […]
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Fresh Produce E-commerce in China: the Fascinating, the Difficult
Food safety concerns and increasing income of Chinese families’ are motivations for fresh produce e-commerce sites to emerge in recent years: Businessmen bet that more and more Chinese would like to, or afford to, pay higher prices for quality fresh produce; people from tech industry came up with creative ways in doing such a business; […]
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Chartboost Raising $19M from Sequoia, Facing Local Rivals in China Market
Chartboost, the cross-promotion platform for mobile games, just announced to raise US$ 19 million round led by Sequoia with participation from existing investors TransLink Capital and SK Telecom Ventures to accelerate the company’s growth. Chartboost allows game developers to reach new users through cross-promotion and make money from their games. Along with the funding, the […]
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The Sad Case of Lashou
For the swamped group-buying market, the cold winter is here to stay, at least for some of the unfortunate participants. Recently, insiders haved revealed details regarding Lashou’s turbulent and tense situation since last August. Day by day, Lashou’s management team disintegrates. Two months earlier marketing VP Niu Lihua left, following the steps of former CFO […]
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China Game Market Hit $9.67B in 2012, Up 35% YOY
A Chinese game industry report shows that last year the trade churned out US$ 9.67 billion (RMB 60.28 billion) in sales, up 35% from a year earlier. According to the report, Chinese game market consisted of three major genres of games, including online games, mobile games and console games that accounted for 94.5% (RMB 56.96 […]
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2012: A Year of Expansion for La Ka La, One of the Earliest Payments Startups in China
2012 was a year of expansion and spending for La Ka La, one of the first independent payments solutions in China: headcount increased five fold, from one thousand to five thousand. The company, breaking even one year earlier though, reportedly had a net loss of 100 million yuan in 2012 as a result of expansion and a sign […]
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What Tencent Executive Says about Weixin O2O Business
Dai Zhikang became the head of Tencent’s lifestyle e-commerce division after Comsenz, a startup he founded, was acquired by Tencent in 2010. His team released Weixin membership card in mid-2012, a loyalty program for users to subscribe to merchants’ Weixin accounts and for businesses to do CRM. Unlike other low-key Tencent executives, Dai occasionally accepted […]