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startups in china

How Meituan’s $3.4b Mobike buyout redefines the bike-sharing battleground

[ad_1] Photo credit: Kentaro IEMOTO The web was awash with rumors on Tuesday; by Wednesday afternoon, Meituan-Dianping announced it was buying Mobike in a multi-billion-dollar deal. The transaction, reported to be in the region of US$3.4 billion, looks to be the most significant bike-sharing deal to date...

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Alibaba buys $9.5b food-delivery startup

[ad_1] An Ele.me deliveryman picks up a pizza from a restaurant. Photo credit: Ele.me Jack Ma just ordered some Chinese takeaway – he’s bought food delivery startup Ele.me in a multibillion-dollar deal. Ma’s Alibaba announced this morning that it’s taking “full ownership” of Ele.me – which means...

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In China, millions are tuning into an online game show in the hope of winning money

[ad_1] Photo credit: HQ Trivia Combining quiz show entertainment and cash prizes, HQ Trivia was the surprise app sensation of 2017. And now a Chinese tech giant is jumping on the bandwagon. Toutiao, a US$20 billion news app with 120 million readers each day, this week updated...

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China’s ride-hailing wars are back

[ad_1] A junction in Shanghai / Photo credit: Carlos ZGZ In China, where ride-hailing company Didi Chuxing enjoys about 75 percent market share, there’s something new afoot: competition. The challenger? Meituan-Dianping, a startup sometimes known as the ‘Yelp of China.’ At first glance, Meituan-Dianping seems like an...

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China’s 10 biggest investments in 2017

[ad_1] China saw a bit of a slowdown in startup funding in 2017, with the US$51.6 billion ploughed into tech companies lower than 2016’s US$53.9 billion, according to the Tech in Asia database. Despite the drop, the average deal size grew, reaching a record US$31.9 million...

[ad_1] China saw a bit of a ...

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Look out, Mofo: new bike-share contender nabs $500m

[ad_1] Photo credit: Andrew Gook / Unsplash Look out, Mobike and Ofo (or “Mofo,” as I like to call China’s top two bike-share apps). A new contender has just emerged, thanks to US$500 million in funding. The huge injection into Hello Bike shows investors are not spooked...

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Tencent’s biggest investments in 2017

[ad_1] Tencent operates China’s most popular social app: WeChat. Photo credit: Sinchen Lin Chinese social and gaming giant Tencent had another blockbuster year. Its market capitalization skyrocketed from around US$200 billion to almost half a trillion dollars over the course of 2017 – even surpassing Facebook’s...

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