China’s urban e-commerce market is nearing saturation after years of explosive growth, a trend leading China’s online retailers to address the untapped markets in rural areas. Nearly 50% of the country’s 1.36 billion population lives in rural areas; however, less than 30% of rural residents are online and only 10% have bought things online, according to […]
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China’s M-commerce Turnover Rockets 378% YOY to 254B Yuan in H1 2014
China’s high-speed increase of e-commerce industry in the past decade seems to drawing to a close in recent years. According to report released by China e-Business Research Center, Chinese e-commerce volume sales increased by 43.9% YOY from 754.2 billion yuan (around US$123 billion) in H1 2013 to 1.08 trillion yuan in H1 2014. The whole-year sale […]
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LightInTheBox President Kevin Wen on Building a Cross-border Online Retail Business
Chinese online retailer LightInTheBox was aimed at global audiences from day one, Kevin Wen, co-founder of the company, told us today at 2014 TechCrunch China/ TechNode event in Beijing. Back in 2007 when LightInTheBox was founded, there were only three well-known e-commerce sites in China, Taobao, Dangdang, and Joyo (would be acquired by Amazon). And all of them were targeting […]
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TechCrunch Beijing Summit’s Guests of Honor: Sungy Mobile President, LightInTheBox Founder, VP of Flurry
From August 11th to August 12th, TechCrunch China and TechNode will hold a conference in Beijing, with the theme of “Red Hardware”.Popular topics to be discussed at the event include crowd funding, online education, science and technology, design, among others. Many highly-anticipated smart hardware products will be revealed to the public for the first time.On the occasion, our guests […]
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Social Marketing Service Weizoom Wins Tens of Millions Yuan Financing Led by CDH Investments
Social marketing service Weizoom announced that it raised tens of millions yuan of investment from four investors led by CDH Investments and followed by Qifu Fund and two undisclosed investment institutions. All the funds are now in position, the company added. Weizoom has secured two rounds of 7-digit sum investments in previous rounds from Zero2IPO […]
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Mobile Voice Search Service Chumen Wenwen Gets Nearly $10 Million of Series B Funding
Mobvoi, developer of mobile voice search service Chumen Wenwen, secured nearly $10 million of Series B financing led by SIG and followed by existing Series A investors. The company has received $1.62 million of Series A funding from Sequoia Capital and ZhenFund in 2012. The capital will be injected in R&D, promotion and team construction, said Li Zhifei, founder of the company. Mike […]
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Travel Service Tuniu Raised $60 million in Series D
Online travel service Tuniu announced today it had raised $60 million in Series D from investors including Temasek and DCM. The new funding, according to its CFO, will be used for expand and improve product mix, talent, among others. Founded in 2006, the company raised A round from Gobi Partners in 2008, B round led by DCM in […]
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B5M Claims It’s the Largest Independent Shopping Search in China, Announcing $16 million Series B Round of Funding
B5M claims it’s now the the largest independent shopping search service and the second largest after Alibaba’s Etao in China. Launched in December 2011, B5M has indexed 300 million items from Taobao & Tmall, over six thousand business-to-consumer sites, over 200 group-buying sites and over 40 social shopping websites. There are more than 3 million visitors and 50 million […]
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Kindle’s Fire On The Local E-Reading Market: Local Players Released New Devices
Kindle’s final arrival in China surely has put its local peers on alert. On the same day, one of the biggest e-reading companies Hanvon released its latest reading device “The Golden House” pricing RMB 849 (the same as Kindle’s Paperwhite). Today, e-commerce player Dangdang also updated its e-reader Doukan with a competitive price of RMB 699. […]
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New Features That Helps WeChat To Gain Foothold In B2C Sector: Alexis Bonhomme, GM of WeChat Integrated Agency Curiosity China
Although instant messaging tools are most commonly used by individuals for personal communication (C-to-C), WeChat, a leading Chinese IM app, gradually established its presence as a major channel of online marketing (B-to-C). The newly launched WeChat 5.0 gives special focus to business users by adding a list of new features that caters for the business […]
