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Posted inNews

Local Listing Service 58.com to Offer Loans to Small Businesses, another Step Closer to Becoming a Taobao for Local Services

Chinese local listing site 58.com (NYSE: WUBA) announced on July 7 to build a peer-to-peer lending platform to finance local merchants who post listings on its site. The service will be jointly established with consumer financing service provider United Asia Finance Ltd., a subsidiary of Sun Hung Kai & Co. Ltd., Hong Kong’s leading financial institution. As […]

Posted inNews

UK-based Travel Search Engine Skyscanner Acquires Chinese Travel Price Comparison Site Youbibi

UK-based travel search service Skyscanner announced today acquisition of Youbibi, a Chinese travel price comparison site, for undisclosed terms. Launched in 2003, Skyscanner now offers search service in more than 30 languages. It’s one of the biggest travel search engines in Europe, with 25 million monthly unique visitors and 30 million mobile app installs, according […]

Posted inNews

Qvod, the Chinese Video Service with a Special Business Model, was Pulled down, Thanks to Lawsuit Filed by Tencent

Qvod, or Kuaibo in Chinese, was recently sued for video rights infringement and is required to pay RMB260 million (roughly US$42mn) fine. What’s interesting is it turns out the lawsuit was filed by companies led by Tencent, the Chinese Internet giant based in the same city with Kuaibo, Shenzhen. Tencent is joined by Youku, LeTV and state-backed […]

Posted inNews

Ctrip Invests $200 million in LY.com, Becoming Its Second Largest Shareholder

China’s leading online travel service Ctrip announced today it has invested more than USD200 million in cash in LY.com, one of its competitors, becoming the second largest shareholder in the latter. It’s undisclosed what a percentage Ctrip has taken in LY, but rumor says it’s about 30%. LY.com, formerly 17u.cn, wasn’t well-known in China’s online travel […]

Posted inNews

Online Hotel Distribution Solution Developer DerbySoft Raises $9 million from DCM

DerbySoft Inc., a hotel distribution connectivity and caching technology service provider, has raised $9 million in Series D funding from DCM Ventures China Fund. DerbySoft connects central reservations systems (CRS) of hotels and third-parties to online booking and search services, such as Booking.com, Google, Kayak, Travelocity and Tripadvisor. Since it’s headquartered in Shanghai, China, the company also […]

Posted inNews

What’s Behind the 16 Chinese Tech IPOs in 2013

Overall 16 Chinese Internet companies launched IPOs last year, up from only 7 cases in 2012, according to report released today by Chinese startup database ITjuzi. According to the report, U.S. stock market is still the top option for Chinese Internet companies to go public, despite some foreign financial research institutions are bearish on their prospects. […]

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