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Alibaba-backed Qudian raised $900M in IPO in New York, largest US IPO for a...
Alibaba-backed Chinese online micro-credit service provider Qudian has just raised around $900 million in an IPO in New York on Wednesday. Its American depositary shares were priced at $24 each, above...
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Meituan-Dianping raises $4B new fund, reflects heated proxy war of Tencent...
Meituan-Dianping, China’s O2O and e-commerce platform, announced today that it has landed a $4 billion Series C round of financing led by Tencent. With the newly pocketed funds, the firm is expected...
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China sees first bike-rental merger
China has just seen its first merger in the burgeoning bike-rental sector. Youon (永安行), the Changzhou-based bike-rental startup which went public in August, announced yesterday the merger of...
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Alibaba and JD gear up for China’s Single’s Day shopping frenzy
China’s largest shopping craze Double 11 (aka Single’s Day) is set to kick off on November 11th, and the country’s e-commerce giants Alibaba and JD are preparing to get the most our of consumers’...
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China’s unmanned store BingoBox seeks legal identity to open stores
China’s retail industry has seen some innovation this year as BingoBox deploys its unmanned convenience stores in major cities in China. However, two of its stores which were opened in partnership...
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Top 5 Chinese LGBT apps in 2017
Believe it or not, China has a vibrant LGBT app scene where a number of dating apps are serving the estimated tens of millions of people in the LGBT community in China. Even though the authorities...
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Sogou input, Taobao, and JD Daojia mobile apps dominate penetration rates in...
As smartphones have become more and more accessible, China has seen a vibrant mobile app scene, ranging from gaming and shopping to dating. In the third quarter of 2017, smartphone users in China...
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Qihoo 360 returns to China’s A-share market via backdoor listing
Qihoo 360, China’ leading cybersecurity company providing anti-virus solutions, is poised to return to China’s A-share market through a backdoor listing, acquiring the domestically-listed elevator...
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Video: Confessions of Singles’ Day handchoppers
Alibaba saw a record-breaking GMV totaling RMB 168.2 billion ($25.3 billion) in its sales on Singles’ Day. Behind that are the “handchoppers”—shopaholics who say they will have to chop off their hand...
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Video: We followed this Chinese gay KOL to Gay Pride in Taiwan
Xiaohun, a gay KOL (key opinion leader) from China, runs a successful WeChat official account dedicated to the LGBT community in China. Starting in June 2015, he now has over 20,000 followers on...
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Chinese microlender Lexin files for a $500m US IPO
Lexin Fintech Holdings, an online microlending platform targeting young Chinese consumers, on Monday filed for IPO in the US to raise $500 million. According to the company’s IPO prospectus, Lexin...
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JD saw RMB 127.1b volume during Singles’ Day, and more about Q3 report
As Singles’ Day concluded last weekend, JD.com saw its transaction volume at RMB 127.1 billion (roughly $19.1 billion) during the sales period from November 1 to November 11, up more than 50% year on...
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Didi Chuxing ends US experiment, encourages users to download Lyft
Didi Chuxing, China’s ride-hailing giant, has ended its US experiment and has halted its app service in the US. Instead, Didi says that the company encourages users to download Lyft—Didi’s strategic...
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LeEco rumored to sell its building in Beijing
Cash-strapped LeEco is rumored to sell its headquarter building in Beijing (in Chinese) off the fourth-ring road with the price at RMB 1.4 billion ($211 million), local media are reporting. Multiple...
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Video: For LGBT community in China, live streaming is the future of advocacy...
If you can’t see anything, try QQ video instead. On a Friday night in Beijing, You Yi, a gay volunteer at PFLAG (Parents, Families, and Friends of Lesbians and Gays) China, was ready to go live online...
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Video: We talked with startups before they met with VCs at TechCrunch Shanghai
TechCrunch Shanghai 2017 gathered over 110 VCs and 400 entrepreneurs at the VC Meetup, where each startup had 10 minutes to chat with a single VC. Watch what they have to say before meeting the VCs....
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Xiaomi’s India unit starts to make profit after three years
Xiaomi, China’s leading smartphone manufacturer, has turned profitable in its third year in India, highlighting an increasing preference for Chinese phones over those produced by local rivals....
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China, US cooperates on satellite navigation to offer better GPS & BeiDou...
China seems to move a step forward in the field of satellite navigation technology, as China and the US have cooperated to establish compatible signal characteristics that will both protect and...
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Video: We asked startups quirky questions at TechCrunch Shanghai
How would you introduce your startup to an 80-year-old lady? And to your blind date? We asked around at the Startup Alley at TechCrunch Shanghai 2017, where about 200 startups showcased their latest...
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Video sharing app Kuaishou rumored to raise new funding with valuation at $15...
China’s leading short social video and photo sharing app Kuaishou is rumored to launch a new round of funding with the estimated valuation at $15 billion, according to the self-media “Kaiqi.” Kuaishou...
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FBI in Alaska just thanked Qihoo 360 for helping combat cyber crime
FBI Anchorage in Alaska just showed its appreciation on Twitter to Qihoo 360, the leading Chinese cybersecurity company providing anti-virus solutions, for its role in cracking three local cyber crime...
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Didi just pocketed $4 billion in funding and is set to face a new rival in...
Didi Chuxing, China’s dominating ride-hailing giant, today announced that it has raised over $4 billion in a new equity funding round. Now having $12 billion in cash reserves, Didi has a valuation of...
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Ant Financial, Didi, and Xiaomi named top 3 Chinese unicorns, says Hurun Report
The Hurun Research Institute released today the Hurun Greater China Unicorn Index 2017, where Ant Financial, Didi Chuxing, and Xiaomi top the chart. The report listed out 120 best unicorns in the...
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China’s new rules targeting ‘inappropriate’ online games send NetEase’s...
China’s leading internet portal and gaming company NetEase saw its shares drop by 3.23% on NASDAQ (in Chinese) on Thursday US time after Xinhua reported that the government plans to clean up “illegal”...
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Video: Inside a Chinese girls’ e-sports team training spot
E-sports, or competitive video gaming, is quietly on the rise in China. We visited a training spot of KillerAngel, an all-female e-sports club, in Shanghai to find out how gamer girls are...
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A female-targeted relationship simulation game has taken China by storm
Who says gaming isn’t romantic? A female-targeted mobile game Love and the Producer (恋与制作人) (our translation) has taken China by storm in little over two weeks after it went live on iOS on December...
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Mobike officially launches ride-hailing service, first testing in Guizhou
Mobike, China’s major bike rental company, announced today that it will roll out its first ride-hailing service in Guizhou, marking the firm’s official attempt to expand outside of the bike rental...
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Meituan gives out munificent ride-hailing subsidies to take on Didi
Meituan, China’s leading O2O and e-commerce platform, is triggering a subsidy war as it is making a foray into the ride-hailing sector, offering users an average RMB 20 ($3) subsidy per order, local...
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Ofo investor Allan Zhu rumored to have sold his shares to Alibaba for $3 billion
Ofo investor Zhu Xiaohu (also known as Allen Zhu) from GSR Ventures is rumored to have sold his shares in ofo to Alibaba for $3 billion (in Chinese). The source is Zhu’s brother-in-law Ou Chengxiao...
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Baidu launches own blockchain open platform
Baidu, China’s search engine giant, launched today its own BaaS (Blockchain as a Service) open platform. According to the Baidu BaaS website, the platform was built based on its self-developed project...
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Toutiao reveals logic behind its algorithms, shows they are serious about...
News aggregation platform Jinri Toutiao held a meeting with engineers from other internet companies yesterday to disclose how Toutiao derived its algorithms (in Chinese) and stressed that the machine...
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The numbers behind China’s mobile quiz game craze: Jiguang report
While app-based live game show HQ Trivia took the US by storm in 2017, app-based quiz shows are also gaining popularity in China with more and more apps launching since the end of 2017. As the live...
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Guangzhou and Shenzhen urge Didi to solve Blugegogo’s deposit issues
It seems that Didi’s take-over of Bluegogo’s bike-rental business hasn’t been smooth sailing. Transportation authorities in Shenzhen and Guangzhou have been in talks with Didi, saying that operating a...
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WeChat Pay now allows users to bind overseas credit cards
Tencent’s WeChat Pay, one of China’s major mobile payment services, announced today that international credit cards are now allowed on the mobile payment platform. Expats living in China and residents...
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Authorities to reinforce inspection over games “distorting history”
Authorities in several provinces in China, including Beijing, Hunan, Zhejiang, and Hebei, are reportedly reinforcing inspection over online games (in Chinese) which distort history and spread explicit...
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Video: Bilibili’s dance cover stars
Bilibili, also known as “B Station” (b站 in Chinese), is the spiritual home for Chinese ACG (anime, comic, and games also known as 二次元 erciyuan) fans. Founded in 2009, the site quickly gained...
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Xiaomi’s smart wearable device partner Huami raises $110 million in public...
Huami, a smart wearable device maker for Chinese smartphone unicorn Xiaomi, has officially been listed on New York Stock Exchange (NYSE) under the ticker symbol “HMI,” and has raised $110 million by...
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Tencent-backed We Doctor scales up to prepare for planned Hong Kong IPO
We Doctor, the Tencent-backed Chinese online healthcare services firm, has completed internal business integration (in Chinese) and scaled up its four verticals—medical cloud, healthcare, medicine,...
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Kai-Fu Lee leads Beijing’s new AI research center
Beijing city officials yesterday launched a new international artificial intelligence research center in Beijing. The center will be led by Kai-Fu Lee, CEO of Sinovation Ventures, who has publicly...
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China’s obsession with QR codes
It’s no secret that China remains a leading force in the mobile payments sector thanks to the easy access of smartphones. In 2016, the transaction volume of mobile payments in China has reached RMB...
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