Breaking: Baidu Invested US$ 306M In Qunar, Becomes Biggest Shareholder

Baidu and Qunar, the vertical travel search engine in China announced today that Baidu has invested US$ 306 million in Qunar to become the latter’s biggest institutional shareholder. According to the two parties, Qunar will still operate independently after the investment. Actually, this is the largest investment Baidu ever made in the company’s history, which is also to date the largest…

Baidu to sell $1 billion stake in online travel service Ctrip

The exterior of Baidu's offices in Zhangjiang High Technology Park in Shanghai. (Image credit: TechNode/Shi Jiayi) Baidu will sell $1 billion of its stake in popular Chinese online travel agent Ctrip as competition for advertising revenue intensifies amid an economic downturn. Why it matters: Baidu is turning its focus to artificial intelligence, autonomous driving, and cloud services as…

China Tech Talk 60: How to make a billion dollar company in China with Fritz Demopoulos

This week, John and Matt talk with Fritz Demopoulos, founding partner of Queens Capital, about his journey at Qunar, how the company was founded, challenges they faced building the company, and advice for entrepreneurs in China today. Links Baidu Makes $306 Million Strategic Investment In Chinese Travel Search Engine Qunar Baidu Sells Qunar Stake To Rival Ctrip In A Major O2O Deal……

Tujia buddies up with SiteMinder to improving homestay management for overseas hosts

Chinese homestay booking provider Tujia has announced that it has signed a strategic agreement with SiteMinder, a global cloud platform for the hotel industry. The new partnership underlines an increasing focus for the company’s global expansion efforts. The function is expected to become available to all hosts who use the service outside of China starting in mid-July. After the service goes…

Looking back at ChinaBang: WeChat – Best mobile social network 2012

TechNode has been organizing the annual “China Bang Awards” since 2011. Over the past few years, TechNode has witnessed a large number of emerging startups grow into unicorns. For the upcoming ChinaBang Awards 2018, TechNode has started a special report to review the history of China Bang Awardees. In 2017, a message from the art world sent a shockwave in the internet world: V&A, the world's…

Updated: Unmanned stores could see first big failure as Bianlifeng rumored to be pulling smart shelves from 38 Chinese cities

Bianlifeng (便利蜂), the operator of Chinese staff-less stores and smart vending machines, released a notice to its employees yesterday announcing that they will start pulling out vending machines from 38 cities in China an unnamed employee told Pingtu360. Except for the eight selected cities that they are currently testing the unmanned shelves in and the three other cities they plan to expand into,…

Top 10 Chinese unmanned stores in 2017

The announcement of Amazon Go, the cashierless store concept, in late 2016, coincided with a flurry of Chinese tech companies creating their own versions of unmanned stores. For them, 2017 was a fruitful year for developing their solutions tailored to Chinese consumers, as well as in educating the market. What’s more important behind the quick rise is that the market is ready. High smartphone…

LinkedIn’s China rival Maimai just raised $75 million

Maimai, LinkedIn's biggest China rival, just raised $75 million in its latest Series C round and has plans to go IPO in 2019, our sister site is reporting (in Chinese). The round is led by DCM Ventures, an investor in popular social networking apps including Kuaishou, Tantan, Musical.ly, and Renren. IDG Capital and Morningside Venture Capital also participated in the round, and Chinese recruiting…

Top 15 apps you need for living in China

Say goodbye to Facebook, Twitter, and Instagram and welcome your new favorite apps. Here is everything you will need to navigate your China life. 1. Communication: WeChat (微信) The app to rule them all, WeChat is the very definition of indispensable in China. This is where you will connect with your friends, communicate with your boss (forget emails), make business deals, flirt, and much more.…

China’s Airbnb rival Tujia receives $300 million for online unit

It seems that China’s online travel and accommodation industry is still feeling the heat from the Golden Week. China’s home rental unicorn Tujia.com, often dubbed the Airbnb of China, announced today that it just completed a $300 million Series E for its online arm at a valuation of over $1.5 billion. The current round marks the first independent financing for Tujia’s online unit since the…