VENTURE CAPITAL POST

Shenzhen, China-based taxi app Didi Dache is reportedly raising $100 million in a Series C funding round from investors Citic and Tencent for the integration of a payment platform into the app.

The number of internet cafés in China has decreased, a collateral damage to China's bid to go online as smartphones and tablet devices grow in popularity, a Financial Times report said.

Palo Alto, California-based Cyanogen has closed $23 million in Series B funding from Andreessen Horowitz and Tencent to expand its workforce and develop its CyanogenMod mobile operating system.

San Francisco-based mobile game business engine Playhaven and mobile analytics firm Kontagent have decided to merge in an all-stock deal is said to be worth hundreds of millions of dollars.

Tencent upgraded WeChat as the Chinese company hoped to boost its revenue through addictive games on mobile devices.

Tencent denied China Daily's report that the company would list WeChat as a spin-off corporation in Singapore.

The instant messaging app from China, WeChat, would expand globally by using the biggest personalities in the sports industry.

Tencent and other Internet company in China led the highest close of the telecommunication industry in Hang Seng index since 2004

Naspers announced that they are considering the sale of US$1 billion bonds to fund acquisitions