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Can VR karaoke save the flagging KTV industry?

When karaoke machines first appeared in Japan in the 1970s they were considered an expensive fad. Almost 50 years later, KTV is one of Asia’s favorite pastimes and in China, it is already absorbing the newest trend in entertainment – virtual reality. VR arcades have been popping around China’s cities on a massive scale, and […]

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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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China Funding Daily, May 16th,17th and 18th: Live streaming, AR glasses and AI

New fundings in China on May 16, 2017 Bona Film Group (博纳影业), a 16.5-year-old, Beijing-based film distributor, has raised RMB 300 million in a strategic investment backed by Wanda Cinemas (万达院线). E-date (易悦), a 3-year-old, Guangzhou-based social-networking app targeting elites, has raised RMB 20 million in Series Pre-A funding from undisclosed investors. Xiaoxiongjita (小熊吉他), a […]

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5 must-know Chinese computer vision startups

Vision plays a central role in human cognition. While we use eyes to see things and the brain to interpret and coordinate, it is difficult for computers or robots to duplicate the way human perceive and visually sense the world around them. Computer vision is the science that aims to give a similar capability to […]

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Real Estate Platform Fangdd Announces Funding As China Eases Real Estate Bans

Fangdd, a popular Chinese real-estate platform announced they had closed a series C funding of $223 million USD led by Fountainvest Partners this July. The company announced series B funding of $80 million USD just two months ago from Vision Knight Capital China Fund, Lightspeed China Partners, and CDH Venture Partners. The Chinese government has recently eased restrictions on owning multiple […]

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Real Estate Giant Wanda Acquires Controlling Stake in Payment Service 99Bill

Wanda Group, a leading Chinese commercial real estate company, has acquired a controlling stake in 99Bill, a digital payment solution provider. 99Bill will be the digital payments solution for all of Wanda’s businesses, including e-commerce. Wanda has targeted the e-commerce market from 2012, trying to build a Tmall-like business-to-customer marketplace. Realising it’s hard to beat […]

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Top 3 Funding Stories From China This Week: CrazyCDN, Suishouzan, Mtime

CDN Provider CrazyCDN Lands $10 million USD Series A CDN (Content Delivery Network) Provider CrazyCDN announced a $10 million USD series A led by Morningside Ventures. The Shanghai-based company is co-founded by Alibaba’s Xiao Zhi Ming and Alibaba vice president Dr. Lu Peng. Wealth Management Company, Suishouzan Receives Several Million RMB Seed Funding From Gobi Partners Wealth management company, Suishouzan […]

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10 live-streaming apps luxury brands need to know in 2017

Editor’s note: A version of this post first appeared on Jing Daily, the leading digital publication on luxury consumer trends in China.  From Papi Jiang’s Swiss watch collaboration to Tmall’s virtual U.S. shopping trip, live-streamed luxury brand campaigns are part of a growing trend as China’s live-streaming audience expands. The latest report by Chinese consulting company iiMedia Research estimated that the number […]

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Tencent and Baidu Team Up with Wanda to Challenge Dominance of Alibaba in Chinese E-commerce Industry

Wanda Group, China’s top commercial property conglomerate which is also engaged in tourism, hotels and entertainment, is teaming up with Chinese Internet giants Tencent and Baidu to set up an e-commerce joint venture by investing 5 billion yuan (around US$814 million) on aggregate. Wanda will hold a dominant 70% stake in the joint venture, while Tencent and […]

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Letv Sports Lands US$128M Funding Led by China’s Top Two Billionaires

Letv Sports, the sports affiliate of Chinese online video streamer Leshi Internet Information & Technology Corp., has raised a hefty 800 million yuan (US$128.8 million) Series A funding, valuing the video-streaming business at 2.8 billion yuan (around US$451.1 million). This round went through A and A+ periods, luring investments from two of the richest men in China. Wanda […]