Analytics company Umeng said the number of active smartphone users in China has surpassed the 700 million mark as of the end of 2013, TechCrunch reported.
China
Sina Weibo files for US IPO to raise as much as $500M
Sina Weibo, the China-based microblogging and social media site, has filed its IPO prospectus with the US Securities and Exchange Commission to raise as much as $500 million in its planned US debut, TechCrunch reported.
Alibaba Group said to hold US IPO in third quarter this year
China-based e-commerce firm Alibaba Group plans to hold a US listing in the third quarter of this year, according to a sources interviewed by Reuters.
Chinese outbound visa service ByeCity receives $20M capital boost from Alibaba
Beijing, China-based outbound visa service ByeCity received $20 million in its Series B funding from Alibaba Group Holding Ltd and Chinese private equity firm CBC Capital.
Ex- Baidu COO is now venture partner at GGV Capital
Former Chief Operating Officer of GGV Capital is now a venture partner of GGV Capital, the venture capital company that seeks investment opportunities in firms that connect China and the US, TechCrunch reported.
Latest News
Alibaba is almost certain that it will not be undertaking its initial public offering in Hong Kong but in New York, according to sources interviewed by the Financial Times.
Alibaba Group Holding will be buying a majority stake in ChinaVision Media Group Ltd in an $804 million deal, allowing it to access TV and movie content, Reuters reported.
China's regulators have already given their assent for the creation of an international trading center in the free trade zone in Shanghai, Reuters reported citing the bourse's Chairman Gui Minjie.
Venture capitalists are putting their support on travel tech startups that seek to enhance the travel experience of consumers even with the popularity of travel booking platforms, TechCrunch reported.
Tencent Holdings will be acquiring a 15% stake in JD.com in a $214.7 million deal to provide a stronger platform that will rival Alibaba Group Holdings in the space, Bloomberg reported.
San Francisco, US-based startup Spellgun launched today to bring Western mobile games to China's mobile market under a partnership with video game art outsourcing firm Concept Art House and Chinese firm Talkweb.
Tencent Holdings, the biggest Internet company in China, could get a 16% stake in online retailer JD.com, according to a Chinese business newspaper, Reuters reported.
An agreement was entered into between Walt Disney Studios and Shanghai Media Group Pictures to allow writers and filmmakers in the US and China to work together in producing Disney movies with Chinese themes, Reuters reported.
In its quest to develop products faster and introduce more devices to the market faster, Apple Inc has hired new engineers from rival firms like HTC to beef up its team in Asia, The Wall Street Journal reported.
