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Tencent bets on online flea market with $200m investment in Zhuan Zhuan

by Emma Lee

The decades-long rivalry between Tencent and Alibaba spans almost every hot tech vertical in China. It’s no exaggeration to say that where there’s Tencent, there’s Alibaba and vice versa. The competition between the two Chinese internet giants is now entering another field – second-hand goods trading market. According to the official announcement, Tencent has injected […]

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Ant Financial invests in Shanghai-based fintech startup VFinance

by Eva Yoo

Ant Financial, the financial services affiliate of Alibaba, has made a strategic investment in VFinance (维金), a Shanghai-based startup providing digital financial infrastructure solutions to enterprises in China, according to VFinance’s announcement. At a press conference on July 18th, VFinance also signed strategic cooperation with MyBank (网商银行), an online bank launched by Ant Financial in 2015. The cooperation […]

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Four strategies of China’s top 10 e-commerce apps

by Eva Yoo

Pushing advertisement online and offline has been the typical strategy of China’s e-commerce giants to bring in customers, explaining why e-commerce sector is one of the toughest battlegrounds for freshly born startups since they have little money to spend on advertising. However, the trend is changing. As startups like Bolome, combining live streaming into cross-border […]