Alibaba rebranded its community group-buy unit to “Taocaicai” on Tuesday as some rivals losing momentum after rounds of market consolidation. The new brand will incorporate Freshippo Market and Taobao Maicai, Alibaba’s two existing community grocery services. Users in various cities can access the newly branded service through Taobao’s mobile app. [TMT Post, in Chinese]
On Tuesday, Chinese online retailer JD launched a physical store brand called JD Mall to expand its offline presence. JD Mall plans to debut in the city of Xi’an with a five-story store on Sept. 30. The store will sell more than 200,000 items from 150 domestic and international brands. [JD press release]
The two hefty deals this week highlight rising investor attention to the robot delivery market, an emerging sector ready for commercialization and on the rise thanks to the booming non-contact economy in the post-epidemic era.
Ireland’s Data Protection Commission, TikTok’s lead privacy regulator in the European Union, has opened two inquiries into the short video platform related to the processing of children’s personal data and transfers of personal data to China. The Chinese-owned app could face fines up to 4% of its global revenue. [Reuters]
Chinese food delivery robot maker Putdu Technology announced Tuesday it had raised RMB 500 million ($78 million) in a Series C2 round. The company raised RMB 500 million in May in its Series C1. Investors in the financing round include Meituan, Shenzhen Investment Holdings, and Sequoia Capital China. [PuduTech press release]
Alibaba sells out 50 digital NFT mooncakes, ahead of the Mid-Autumn Festival. BIS urges more national digital currency.
Nio Capital has invested an undisclosed amount in YKC, a Chinese startup that provides cloud service for electric vehicle charging stations. As of August, the startup served more the 80,000 public charging points, the fourth-largest number nationally. It trailed state-backed Teld, Volkswagen partner Star Charge, and State Grid. [YKC statement, in Chinese]
Chinese self-driving car startup Deeproute announced Tuesday that it had raised more than $300 million in a Series B led by Alibaba.
A court in eastern Shandong province ruled that Chinese food delivery giant Meituan should pay rival Eleme RMB 1 million ($160,000) for forcing merchants to list exclusively on its platform, local media reported Monday. Separately, a court in eastern Anhui province recently ordered Eleme to pay Meituan RMB 80,000 for similar offenses in an unrelated case. [NetEase News, in Chinese]
Under intensifying regulatory pressure, Chinese tech giants are scrambling to show their willingness to operate and invest in compliance with the state’s broad goal of “common prosperity.”