Gaopeng, the Groupon-Tencent JV in China was in trouble again. The Beijing-based group buying site was accused of selling counterfeit Tissot watches. Hundred of customers claimed that the RMB 690 yuan (US$108) Tissot watch they bought from a deal provided by Gaopeng wasn’t genuine, and was considering a class suit over the beleaguered website. Gaopeng […]
Search results
Posted inNews
Alibaba Invests $157M into ETao, Claiming Fostering China B2C Sites
Alibaba announced investing US$ 157 million (RMB 1 billion) into Taobao portfolio Etao.com, a price comparison service with affiliate programs which was spun off in this June in an aim to help promoting 3rd party ecommerce sites by increasing both their exposure and traffic. Founded by Taobao in last October, Etao.com has aggregated more than […]
Posted inNews
Qihoo 360 Unveils B2C Sites Aggregator to Expand Revenue Sources
Who are the prime beneficiaries of the current ecommerce mania in China? To start off, consumers. They now have access to abundant choices with stunning price tags. Who else? Portals as well as website aggregators like hao123.com (acquired by Baidu) and hao.360.cn (by Qihoo 360). Why? They pull in considerable amount of money by promoting […]
Posted inNews
Tencent VS Alibaba: A Scramble For B2C Businesses
Taobao Mall, the B2C arm of Taobao which brought in RMB30b ($4.6b) in sales last year and topped the list of B2C initiatives according to a report by market researcher iResearch announced its long-awaited B2C partnership strategy “Open B2C Platform” yesterday with local B2C sites including NYSE-listed Dangdang.com, Walmart backed Yihaodian.com, electronic retailer Gome’s online […]
Posted inNews
Ecommerce Outsourcer Yi-Inc Raised $20m in Series B;Tencent Leaks News About New B2C Platform;Pandora Coming To China Soon
1. Ecommerce Outsourcer Yi-Inc Raised $20m in Series B Yi-Inc, a Guangzhou-based ecommerce outsourcer that operates online shop for home appliance vendors including Philips, Midea and Galanz, announced raising $20m in Series B round of funding from Trust Bridge Partners, IDGVC and HongKong-based venture capital Big Profit. People would be no stranger to the official […]
Posted inNews
Online Marketing Firm iClick Raised US$25 Million in Series B
Founded in Jan 2009, Hong Kong based online marketing firm iClick Interactive has grown into a company of over 170 people and US$60 million sales in just less than three years. Recently, it has raised a second round of funding, US$25 million, from Bertlesmann, Sunitomo, SSG Capital and OTTO.
Posted inNews
eBay Seeking Acquisition Targets in China
Techweb reported that that eBay is eyeing acquisition targets in China to expand its market share. eBay expects 2011 sales from Greater China to increase by 30-40% from last year’s USD$4 billion sales figure. Cautious of the high valuations, Asia Pacific Managing Director Jay Lee said “We will continue to identify suitable opportunities, but must […]
Posted inNews
Suning Yigou Posts Strong Half Year Results with Wider Expansion
According to a report by Analysys International, a Beijing-based market research firm, Taobao, 360buy and Joyo (Amazon China) sit in the top of a Q2 2011 B2C transaction volume chart. While Suning Yigou, the online shopping initiative by the Chinese appliance franchise, unexpectedly replaced Dangdang coming in fourth on the same chart. Excellent Financial Results […]
Posted inNews
Chinese B2C Online Retail Market Share in Q1 2011
Analysis International releases its research data on Chinese B2C online retail market share in Q1, 2011. It says that in Q1, 2011 the total transaction value of Chinese B2C online retail market has reached rmb 47.07 billions (~$7.3 billions). Taobao is still leading the market (31.4%), followed by 360buy (10.2%), Joyo (Amazon China, 2.3%) and […]
Posted inNews
Tianji, the 6 Million-Users Professional Social Network In China – Part I
Founded in 2005, Beijing based Tianji is one of the first to do Linkedin type professional SNS in China. Currently, it has 6 million members in the country and is adding 200,000 more a month. Tianji’s founder and CEO Derek Ling was a former VP in Sina when it had just 20 person in the U.S. He […]
