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Posted inNews

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 […]

Posted inNews

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 […]

Posted inNews

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 […]

Posted inNews

Market Snapshot: China’s Highly Consolidated Online Movie Ticketing Market

The Chinese box office has soared in recent years and the growth is projected to continue. The movie ticket sector is a hot target for tech companies who’ve been sniffing around conventional industries for business opportunities. China’s online movie ticket sales as a percentage of total sales reached 75% in July 2015, according to market research firm Eguan and the […]

Posted inNews

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 […]

Posted inNews

eLong Announces Privatization Bid From Tencent

 ELong, one of China’s largest online travel services, today announced that its board of directors have received a privatization offer from existing shareholder Tencent, which hopes to acquire all remaining shares in the company.  Tencent offered shareholders $18 per American Depositary Receipt (ADR), a 27 percent premium to Monday’s closing price in New York, according to […]

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