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Flexible Action Camera PIC Wins DreamPlus TechNode Demo Day 

The winning startup of DreamPlus TechNode Korean Startup Demo Day, held on June 30th in Shanghai, was Boud, the makers of a flexible action camera. As a reward, the company was given a free booth at the TechCrunch Beijing event in November. The camera startup is one of the four selected companies participating in the DreamPlus Global Expansion Program. “DreamPlus aims to […]

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Why Is Every Chinese Tech Company Doing Online Finance?

When it comes to China’s internet giants, there’s barely a player that hasn’t entered the world of online financing. Following in the footsteps of Alibaba, many of these companies are looking to finance as a means of subsidizing heavy cash burn rates in their core businesses. Ant Financial, which oversees Alipay, the country’s largest mobile payment service, is […]

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China’s Ticketing Site LY.com Lands Nearly $1B USD Funding Led By Wanda Group

LY.com (formerly 17U.com or Tongcheng), one of China’s largest ticketing websites, has secured more than 6 billion RMB ($967 million USD) funding from a consortium led by Chinese real estate conglomerate Dalian Wanda Group, Tencent Industrial Capital, CITIC Capital Holdings as well as other institutions. The company did not specify the stakes each investors are acquiring. The investment, which marks […]

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Ctrip Invests $200 million in LY.com, Becoming Its Second Largest Shareholder

China’s leading online travel service Ctrip announced today it has invested more than USD200 million in cash in LY.com, one of its competitors, becoming the second largest shareholder in the latter. It’s undisclosed what a percentage Ctrip has taken in LY, but rumor says it’s about 30%. LY.com, formerly 17u.cn, wasn’t well-known in China’s online travel […]

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Online Hotel Distribution Solution Developer DerbySoft Raises $9 million from DCM

DerbySoft Inc., a hotel distribution connectivity and caching technology service provider, has raised $9 million in Series D funding from DCM Ventures China Fund. DerbySoft connects central reservations systems (CRS) of hotels and third-parties to online booking and search services, such as Booking.com, Google, Kayak, Travelocity and Tripadvisor. Since it’s headquartered in Shanghai, China, the company also […]

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Qunar CEO: We Aimed At 1% of China GDP

Qunar, Chinese online travel booking service seems to be growing to a ‘super’ company, even on a par with Ctrip in just a few years. The local magazine The Founder interviewed the team and this was the summary of the report. Overall, Mr. Zhuang Chenchao, CEO of Qunar was seemingly confident of the future as […]