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Alibaba acquires NetEase Kaola in deal worth $2 billion

Alibaba acquires NetEase Kaola in deal worth billion Alibaba Group said today it has acquired NetEase Kaola for $2 billion and will integrate it into Tmall, creating the largest cross-border e-commerce platform in China. The announcement follows weeks of media reports about a potential deal, which was said to have stalled in […]

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Alibaba reportedly near finalizing a deal to acquire NetEase’s cross-border e-commerce unit

Alibaba reportedly near finalizing a deal to acquire NetEase’s cross-border e-commerce unit After weeks of media reports, Alibaba may finally be nearing an agreement to acquire NetEase’s cross-border e-commerce unit, Kaola. Chinese tech news website 36kr reports that a deal may be announced as early as this week and is expected to […]

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China silences podcast and music apps as online crackdown widens

China silences podcast and music apps as online crackdown widens Audio apps are flying high in China. In 2018, online listeners in the country grew 22.1% to surpass 400 million, at a rate far exceeding that of the mobile video and e-reading populations, according to market researcher iiMedia. But the fledgling sector […]

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Nuro CEO Dave Ferguson at TC Sessions: Mobility on July 10 in San Jose

Nuro CEO Dave Ferguson at TC Sessions: Mobility on July 10 in San Jose Autonomous delivery startup Nuro, fresh with nearly $1 billion in capital from SoftBank, is bursting with ideas — as some recent patent filings (and our recent deep dive into the company) suggest. And we can’t wait to learn […]

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JD.com shares take off despite slowing revenue growth

JD.com shares take off despite slowing revenue growth Shares of JD.com, the Chinese e-commerce service that rivals Alibaba, are on the rise today after the online retailer announced better than expected results for Q4 2018, bucking uncertainty around tech companies in China. The company reported net revenue of RMB 134.8 billion ($219.6 […]

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Alibaba challenger Pinduoduo is bringing imported goods to rural homes

Alibaba challenger Pinduoduo is bringing imported goods to rural homes Pinduoduo, the latest challenger to China’s ecommerce dominators Alibaba and JD.com, wants to bring affordable, imported items to shoppers in China’s smaller cities and rural areas. The three-year-old Tencent-backed ecommerce upstart is recruiting importers to set up shop on its marketplace, shows […]

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Selfie app maker Meitu eyes overseas gaming market with $340 million deal

Selfie app maker Meitu eyes overseas gaming market with 0 million deal China’s largest selfie app maker Meitu has been busy working to diversify itself beyond the beauty arena in China. On Wednesday, the Hong Kong-listed company announced in a filing that it has agreed to pay about HK$2.7 billion ($340 million) […]

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China tells teachers to quit assigning homework through WeChat

China tells teachers to quit assigning homework through WeChat China’s education authorities are about to take some burden off parents with school-aged children. A proposal posted last week by the Department of Education in China’s eastern province of Zhejiang said teachers should be banned from using WeChat, QQ or other mobile apps to […]

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China finally grants a game license to Tencent

China finally grants a game license to Tencent Tencent has finally come out of a prolonged freeze on game approvals as Beijing granted licenses to two of its mobile games this month. According to a notice published by China’s State Administration of Press, Publication, Radio, Film and Television on Thursday, Tencent is […]

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China’s NetEase raises $600M for its music streaming business

China’s NetEase raises 0M for its music streaming business As Tencent Music, China’s largest streaming firm, reportedly stalls on its proposed U.S. IPO, one of its closest challengers is doubling down. NetEase Cloud Music, a rival operated by games and publishing giant NetEase, just closed a fresh $600 million injection from a […]

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