58 and Ganji co-build China’s largest part-time O2O platform
Ganji and 58 have completed their integration into the biggest O2O part-time job recruitment platform in China. 58 Ganji aims to cut into the trillion-yuan recruitment market with its part-time work platform. It will be run by the company VP Zhao Shiyong and five senior directors from BAT and other big online companies.
Bee Financial raised USD 4.7M to compete with Alibaba’s Ant Financial
Internet finance service provider Bee Financial just announced that it has received USD 4.7 million in funding. The funding was led by Hong Kong telecommunications company Neo Telemedia Ltd., who put in RMB 20 million, while other investors supplied 30 million. It also announced the launch of Money Bee, its financial management platform, which mainly offers micro-credit loans but plans to extend its services to consumer loans and auto financing. Market leader Ant Financial, backed by Alibaba, closed its A-series funding in July with a valuation of USD 45 billion.
China’s GitHub-like online community for software developers raises USD 10M
SegmentFault, China’s GitHub-like online community for software developers, has raised USD10 million in funding led by SAIF Asia. Formed in 2012, this technical question-and-answer forum for software developers has accrued almost one million users. According to its CEO Gaoyang, the funds will mainly be used to attract new talent in order improve the quality of its community products. SegmentFault has addressed its staff shortages in the past by hosting hacking contests in 5 major Chinese cities.
Hong Kong investment holding group, Rex Global Entertainment, now controls Russia’s Yota Devices, manufacturer of the YotaPhone, having acquired 64.9% of the company’s stock. After the acquisition, Yota Devices will still be headquartered in Moscow, Russia. It’s reported that Rex Global Entertainment’s primary shareholders have established connections in China’s telecommunications business, which will contribute to YotaPhone’s future business development in China.
Despite recently losing its top spot on the Chinese smartphone market to Huawei, Xiaomi continues to develop new businesses like the touch ID technology for its new Redmi smartphone, the Xiaomi laptop, and a possible transit app. Recently, Xiaomi registered a new trademark for Xiaomi Bus, which, according to insiders, may be a new app for public transportation. Xiaomi is also reported to be turning its focus from phones to other smart devices.
Alibaba, Meizu take on Xiaomi, co-launch smartphone for under RMB 1000
Alibaba and Meizu co-launched the metal-bodied Meilan Metal phone last week. Its launch marks the first phone to come out of Alibaba and Meizu’s cooperation. It’s priced under 1000 RMB, a price level dominated by Xiaomi. Alibaba invested $590 million US in Meizu back in February, with aims to find a home for its operating system YunOS.
Tesla may start producing cars in China in 2017
Tesla is in discussion with Chinese state and national government officials to start producing cars in China in two years, Reuters reported. Establishing Chinese local production facilities could reduce the cost of Tesla cars in China by up to a third. Tesla is an attractive brand for Chinese customers. It delivered 33,117 vehicles in the first three quarters of this year, while sales in China account for about 10% of its total sales worldwide.
ImbaTV fundraises USD 15.7m from investors including Wang Sicong
Wang Sicong, the son of China’s richest businessman, Wang Jianlin, is known for his playboy tendencies and outrageous media personality. After founding Panda TV, a popular video streaming website, he has become the chairman of the newly established China Mobile E-sports Association. Wang junior said the Association could reshape the entire mobile e-sports market, which is currently dominated by BAT. Wang has already launched a series of capital allocations in the promising new sector. He has just invested in ImbaTV, a platform that focuses on E-sports.
(Top photo from Baidu Image)