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Posted inNews

Alibaba acquires stake in Wanda Film as the entertainment conglomerate scales back on debt

Yesterday, real estate and entertainment conglomerate Dalian Wanda Group announced (in Chinese) that it had sold a 12.77% stake in its film subsidiary, Wanda Film, for RMB 7.8 billion ($1.24 billion dollars). The buyers of the minority stake are e-commerce giant Alibaba and the state-backed Cultural Investment Holdings. Alibaba will be acquiring a 7.66% stake […]

Posted inNews

LY.com Merges Wanda Tourism, A Final Move Towards IPO?

LY.com, a leading player in China’s local attraction ticket arena, announced on Sunday it’s going to merge Wanda Tourism, the traveling arm of Chinese real estate conglomerate Dalian Wanda Group, with a mixture of cash and stock. After the transaction, LY.com’s market valuation will exceed 20 billion RMB (around $2.98 billion USD) with a cash deposit of […]

Posted inNews

Tencent-Baidu-Wanda Unveil E-commerce Site Ffan To Compete With Alibaba

One year after its establishment, Tencent-Baidu-Wanda’s e-commerce joint venture has finally rolled out e-commerce service Ffan to tap into China’s O2O e-commerce industry. In essence, Ffan is an open platform  that aims to redirect online users to all kinds of offline services, such as parking, reservations at restaurants, and purchasing film tickets and products at discounts. The […]

Posted inNews

China’s Ticketing Site LY.com Lands Nearly $1B USD Funding Led By Wanda Group

LY.com (formerly 17U.com or Tongcheng), one of China’s largest ticketing websites, has secured more than 6 billion RMB ($967 million USD) funding from a consortium led by Chinese real estate conglomerate Dalian Wanda Group, Tencent Industrial Capital, CITIC Capital Holdings as well as other institutions. The company did not specify the stakes each investors are acquiring. The investment, which marks […]

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 […]

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