Posted inPosts

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 […]

Posted inPosts

Market Snapshot: China’s Highly Consolidated Online Movie Ticketing Market

The Chinese box office has soared in recent years and the growth is projected to continue. The movie ticket sector is a hot target for tech companies who’ve been sniffing around conventional industries for business opportunities. China’s online movie ticket sales as a percentage of total sales reached 75% in July 2015, according to market research firm Eguan and the […]

Posted inPosts

Letv Sports Lands US$128M Funding Led by China’s Top Two Billionaires

Letv Sports, the sports affiliate of Chinese online video streamer Leshi Internet Information & Technology Corp., has raised a hefty 800 million yuan (US$128.8 million) Series A funding, valuing the video-streaming business at 2.8 billion yuan (around US$451.1 million). This round went through A and A+ periods, luring investments from two of the richest men in China. Wanda […]

Posted inPosts

eLong Announces Privatization Bid From Tencent

 ELong, one of China’s largest online travel services, today announced that its board of directors have received a privatization offer from existing shareholder Tencent, which hopes to acquire all remaining shares in the company.  Tencent offered shareholders $18 per American Depositary Receipt (ADR), a 27 percent premium to Monday’s closing price in New York, according to […]

Posted inPosts

Apple Pay in China, Could it Happen?

With a large number of already well-established retailers and credit card providers on board, Apple Pay’s future in the USA looks particularly promising. However, in other countries around the world where Apple isn’t necessarily the technological leader, techies aren’t debating how Apple Pay could revolutionize the shopping experience; rather, they’re asking whether or not it will succeed at all.