Alibaba to buy remaining shares in food delivery app Ele.me

Alibaba to buy remaining shares in food delivery app Ele.me

Chinese e-commerce giant Alibaba Group Holding Ltd announced it would buy the remaining shares of Ele.me, a major platform in China’s food delivery market, as it competes with Tencent Holdings Ltd services for offline consumers. Alibaba and affiliate Ant Small & Micro Financial Services Group Co Ltd currently own approximately 43 percent of Ele.me, and the […]

Chinese social media platform WeChat reaches a billion user accounts worldwide

Chinese social media platform WeChat reaches a billion user accounts worldwide

Chinese social media network WeChat, which is used for everything from chatting with friends to booking travel and making payments, has reached a billion user accounts globally, reports the Financial Times. The sheer number of accounts demonstrates the app’s dominance, though it’s important to note that user accounts means the number of accounts, not individual […]

India-based music streaming service Gaana raises $115M led by Tencent

India-based music streaming service Gaana raises $115M led by Tencent

Chinese technology giant Tencent is leading a $115-million, or Rs 740-crore, financing in music streaming service Gaana. Times Internet, Gaana’s parent, will also make further investments in the service, a company statement issued on Tuesday said. Times Internet is a part of the Times Group which publishes The Times of India. The maiden external financing […]

90% of Chinese tourists would use mobile payment overseas if given the option, according to Nielsen

90% of Chinese tourists would use mobile payment overseas if given the option, according to Nielsen

Over 90% of Chinese tourists would use mobile payment overseas if given the option according to Nielsen and Alipay‘s Outbound Chinese Tourism and Consumption Trends: 2017 survey. Meanwhile, 65% of Chinese tourists already use mobile payment platforms while abroad, which is more than six times that of non-Chinese tourists (11%). According to the report, Chinese […]

JD.com launches blockchain startup accelerator

JD.com launches blockchain startup accelerator

JD.com, one of China’s biggest eCommerce retailers, has launched an accelerator program which will focus on the development of artificial intelligence (AI) and blockchain technologies. The AI Catapult program, which begins in March, will partner with blockchain startups to build new business, and create and test real-world applications of their technologies. Members of the program […]