China’s lottery website 500.com planned to launch IPO on U.S. market for $150 million, according to people familiar with the matter (source in Chinese). The company has previously secured venture capitals from IDG, SIG and Sequoia Capital. With more than 15 million users, 500.com generated around 3 billion yuan ($486.52 million) of sales in 2011, […]
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Online Lending Search Rong360 Raised $30 million Series B Led by Sequoia China
Rong360 reportedly raised $30 million in Series B at a valuation bigger than $100 million led by Sequoia China. Before this round the company raised $7 million Series A from KPCB, Lightspeed China Partners and Zero2IPO Venture in March 2012. All those investors also contributed to the new round. Starting as a search engine for users to search […]
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Alibaba’s Shopping Search Etao Taps into Online Travel Sector
Etao, the shopping search service under Alibaba Group, announced today to make inroads to online travel search, starting with a hotel search service. It sounds like a direct competition to Qunar, the online travel search majority-owned by Baidu. Hotel.etao.com has indexed 300 thousand entries of hotel information from Ctrip and other five less-known online travel […]
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Acquisition Rumors Galore: Chinese Internet Giants Start Spring Shopping?
Alibaba’s Jack Ma said they’d acquire innovations from outside. It is rumored that Alibaba acquired Umeng, an app developer support service, and Moji, a weather app. Both are leading services in their respective sectors. Umeng is among the batch of startups Innovation Works incubated before the latter shifted its focus on venture financing, and raised $10mn funding from […]
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Ctrip Transforms towards Mobile Internet, Has to
Ctrip has been sitting on the overlord position of online travel industry for almost a decade before year 2012. However, a string of small travel startups equipped with disruptive innovation in travel business challenged the largest Chinese OTA from many aspects, flight booking, hotel booking, travelogue, you name it. Competition from its long-time rivals including […]
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Wrap-up: The Behemoths’ Investment Guide in 2012
It has been a turbulent year in the world of investment, but thankfully a trend of big tech companies acquiring quality startups has brought us a ray of hope. Instead of simply copying popular ideas from smaller firms, traditional tech companies are more willing to invest or acquire startups . Here’s a short investment report […]
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Map the Market, Mark the Profits
Even it’s not fierce yet, we can still sense a whiff of intensity in the map market. Or should we say it’s the calm before a storm. It seems that the O2O heat is urging the Internet industry to keep pace with it, with big names like Baidu, Alibaba and Tencent jump to ride on […]
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VC event Next Week in Shanghai – Silicon Dragon
For entrepreneurs looking for funding their startups this year, they might found the climate is much less forgiving than last year. I remember last summer almost anything can get a decent valuation. But this year, the VCs are much more cautious. What are on the VCs’ minds these days? To find out, interested parties might […]
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Ctrip Liang Jianzhang：We’re not Giving Up Commission Model
After taking Ctrip to the NASDAQ in 2006, Liang Jianzhang, co-founder of the leading Chinese OTA chose to take a break and study Economics at Stanford. Now six years have gone, coming back as a PhD. in Economics with specialties in population studies, Liang took the reins of Ctrip once again, in a time when […]
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Rumor, Baidu To Acquire UC, Chinese No.1 Mobile Browser
The rumor has been flying around in Chinese media that Baidu is to acquire UC, Chinese No.1 Mobile browser. According to an insider, UC was actually in talk with Baidu last year, but its $1b valuation is turned down by Baidu; later Baidu offered $400m to by 49% share of UC, which was refused by […]
