VENTURE CAPITAL POST

The rising costs of labor and infrastructure are paving the way for more opportunities being created via the internet. The online-based ventures are growing up in China and also enhancing the efficiency of the traditional enterprises as well. Mobile internet is changing the way consumer market behaves in the world's second-largest economy. Initially, the technology innovation doesn't happen in a consumer market, but it takes place in the enterprise segment. The consolidation is very slow in the traditional Chinese business when compared to the western part of the world.

The contest for Nokia's (NOK1V.HE) maps business has become a three-way race between German carmakers, a consortium including Uber and Baidu, and a third group including China's Tencent and Navinfo, people familiar with the process said.

The National Basketball Association and Tencent Holdings Ltd said Friday the Shenzhen-based Internet giant will be the only company in China to stream the league's online content.

China's transport ministry has banned taxi hailing apps such as Uber Technologies Inc and local rivals Kuaidi Dache and Didi Dache from using cars and drivers without taxi licenses in a bid to regulate the rapidly growing sector.

Chinese Internet giant Baidu Inc (BIDU.O) agreed to buy a stake in Uber as the online car-hailing service seeks to gain ground on rivals with powerful backers in one of the world's biggest transportation markets.

German luxury carmaker BMW is teaming up with Chinese internet giant Baidu to start highly automated driving trials in Beijing and Shanghai.

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.

San Mateo, US-based open platform as a service Cloud Foundry is about to become more popular by launching the Cloud Foundry Foundation, which will help servers deploy software apps of developers under an open-source Apache license.

Tim Draper, the billionaire whose venture capital firm has invested in Skype and Baidu, has proposed to divide California into six mini-states, the Financial Times reported.

Despite receiving backlash from short sellers who claimed that they misstate their assets, there is no stopping to Chinese companies who pursued initial public offerings in the US.

Chinese analytics provider Umeng confirmed its acquisition by e-commerce giant Alibaba for an undisclosed amount, following the rising trend of China-related mobile acquisitions this year.

Dianping's co-founder Edward Long recently revealed at the TechCrunch/Technode event in Shanghai that it rejected an acquisition offer of less than USD100 million from Google China.

Qunar, Baidu's online travel app, would be offering American Depositary Shares for its IPO in the New York Stock Exchange.

According to analysts, Baidu would make its shareholders satisfied because of its potentials and investments for the future.

Analysts said that Baidu's purchase of 91 Wireless for US$1.9 billion was worth it.