Did Kuaidi, the largest ride-hailing service in China is about to raise $1 billion the same amount that Uber spent last year for its expansion. It is going to be a tough competition for both companies since they are being backed up by other large companies such as Alibaba and Tencent Holdings Inc.
JD.com, China’s largest online direct sales company, has raised $1 billion, for its JD Finance subsidiary from investors including Sequoia Capital China, China Harvest Investments and China Taiping Insurance.
China's Xiaomi Inc [XTC.UL] has agreed to buy about 3 percent of software firm Kingsoft Corp Ltd from Tencent Holdings Ltd for HK$527 million ($67.99 million), according to a Kingsoft filing on Monday.
China's Alibaba Group Holding Ltd (BABA.N), the world's biggest e-commerce company, is piloting a mobile messaging app aimed at marrying social networking with business, an Alibaba spokeswoman said on Friday, as the company expands its enterprise services.
The founders of Alibaba Group Holding Ltd (BABA.N) and Tencent Holdings Ltd (0700.HK) were among a consortium of investors who purchased stakes in Ping An Insurance Group Co of China Ltd (2318.HK) (601318.SS) in a HK$36.5 billion ($4.7 billion) deal on Sunday, in one of the largest Hong Kong share offerings of the year.
Tencent Holdings would launch the Chinese version of Candy Crush Saga through a partnership with King Digital Entertainment.
Dozens of popular accounts of WeChat, the social messaging app of Tencent Holdings Ltd, were closed by Chinese authorities, Reuters reported citing Chinese media reports.
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.
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.
Internet firm Baidu Inc intends to make more acquisitions this year to get more smartphone users in the world's largest smartphone market to patronize its services, Reuters reported.
Tencent Holdings Ltd and JD.com Inc are in talks to join forces and consolidate their e-commerce operations, according to two people familiar with the matter interviewed by Bloomberg.
Although they have remained silent for the good part of 2013, venture capitalists are now going back to China as the IPO market opens, but strategic investors are offering tough competition, The Wall Street Journal blog Venture Capital Dispatch reported.
UCWeb Inc, a company backed by Alibaba Group Holdings, is looking at acquisitions to add more programmers and platforms so it can better compete with its rivals, Bloomberg reported.
Popular photo sharing service Snapchat turned down a USD3 billion acquisition bid from social media giant Facebook, saying the company will not start considering offers until next year.
According to its CEO, Dianping.com's value is higher than Groupon and Yelp or about USD10 billion.
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