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The forgotten ‘Facebook of China’ is sold for $20M

The forgotten ‘Facebook of China’ is sold for M Renren, which was once heralded as the ‘Facebook of China’ and later became China’s answer to MySpace after falling out of fashion among its core young users, is selling its social networking business. Renren’s parent company Beijing Qianxiang Wangjing has agreed to sell […]

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China’s frenzy over League of Legends championship sheds light on esports growth

China’s frenzy over League of Legends championship sheds light on esports growth When China’s Invictus Gaming defeated European squad Fnatic in the League of Legends 2018 finals this past Saturday, China’s social media platforms became awash in ecstasy and pride. “It’s like winning an Olympic gold, a teenage dream come true,” writes […]

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China’s fast-rising Bullet Messenger hit with copyright complaint

China’s fast-rising Bullet Messenger hit with copyright complaint Bullet Messenger, a fast-rising Chinese messaging upstart that’s gunning to take on local behemoth, WeChat, has been pulled from the iOS App Store owing to what its owners couch as a copyright complaint. Reuters reported the development earlier, saying Bullet’s owner, Beijing-based Kuairu Technology, claimed in […]

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Chinese social media giant Weibo is raising $700M to fund acquisitions

Chinese social media giant Weibo is raising 0M to fund acquisitions  Weibo, the Twitter-like Chinese social network that is profitable unlike Twitter, is raising $700 million as it looks for acquisitions to continue the rocket ship growth its business has seen in 2017. The Beijing-based company, which is listed on the NASDAQ […]

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LeEco delays payroll until August due to ‘financial constraints’

LeEco delays payroll until August due to ‘financial constraints’  Some LeEco employees in China will not get paid until August. According to an official statement provided to TechCrunch, Leshi Holdings, LeEco’s holding company has decided to postpone July’s payroll until August 10th. This is at least the third time this year LeEco […]

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China clamps down on live-streaming services

China clamps down on live-streaming services  The Chinese government has cracked down on three of the country’s top live-streaming services over their apparent broadcast of unsuitable political content. Weibo, the Nasdaq-listed microblogging site, disclosed that it had received a notice from The State Administration of Press, Publication, Radio, Film and Television of the […]

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China’s Weibo restricts overseas users on Tiananmen anniversary

China’s Weibo restricts overseas users on Tiananmen anniversary  June 4 fell this weekend, which, in China, marks the anniversary of the Tiananmen Square massacre in 1989, one of the most infamous dates in the country’s modern history. The government has never acknowledged nor commented upon the event — which resulted in upwards of […]

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