Alibaba's Sports Business Raises Over $1 Billion RMB in Series A Funding Alibaba Sports has confirmed that they have raised RMB 1.2 billion (approximately $17 million USD) at a valuation of RMB 7 billion ($100 million USD). The funding round is being led by Yunfeng Capital and will also include Taiping Guofa Dingsheng Capital and Qianheng [...]
China Celebrates Annual Qingming Festival The Qingming (or Ching Ming) Festival, also known as Tomb-Sweeping Day, is a traditional Chinese festival on the first day of the fifth solar term of the traditional Chinese calendar. This year it took place on April 4th and the holiday was officially reinstated in China 9 years ago. People celebrate [...]
Alibaba Reorganizes Entertainment Business Alibaba Holdings Group Ltd. is undergoing consolidation of their entertainment efforts by rounding up Youku Tudou Inc., UCWeb Inc., Alibaba Pictures Group Ltd, and company's sports, games, literature, music and digital entertainment divisions into a single group. There will also be a $10 billion yuan ($1.48 billion USD) fund for new projects [...]
Riot Games Celebrates 10th Anniversary Riot Games, famed developer of the hit MOBA League of Legends, is celebrating its 10th anniversary this month and also the full acquisition of the studio by China's largest (and most valuable) Internet company, Tencent. Check out the full overview in the LA Times, including quotes from Niko's Lisa Hanson and [...]
ChinaJoy 2016 ChinaJoy 2016, the largest digital entertainment expo in China, took place July 28th through the 31st. Over 900 exhibitors were keen to show off more than 4,000 new and exciting products to consumers. Passionate gamers from all across China traveled to Shanghai for the four-day event. This year was particularly successful with official figures [...]
Wandoujia Acquired by Alibaba Alibaba will acquire Wandoujia at $200 million. After the acquisition Wandoujia will be incorporated into Alibaba's mobile business unit. Softbank used to be the largest shareholder of Wandoujia. In 2014, Wandoujia landed $120 million in Series B financing from Softbank, DCM and Innovation Works Development Fund. It was also then invested in [...]
YouTube Gaming Enters Southeast Asia YouTube's answer to the massively popular Twitch streaming platform, has now entered Indonesia, the Philippines, Malaysia, India and more. Gamers will be able to share streams of their favorite games and recorded gameplay sessions. As we predicted the rise of eSports for 2016, Google's push for their streaming platform makes total [...]
Taobao's VR Shopping Technology Taobao announced Buy+, a VR shopping technology, and says it will be launched in 4 months. With Buy+, the user can put on a VR headset, enter Taobao's VR version of their store, and then choose to shop at either 5th Avenue in NYC or an antique market in Britain. According to [...]
Internet Cafes in China According to the Chinese Ministry of Culture, investment in domestic I-cafés has exceeded RMB 20 billion ($3.1 billion) in the past year. The Ministry of Culture encourages I-cafes to upgrade systems and facilities, and to improve management according to the law, sustainable development and good judgment. Five Myths About China's Economy McKinsey [...]
Valve Sues Copycats in Asia Valve Corporation, developer of Dota2, has officially filed a lawsuit against the developer of Dao Ta Chuan Qi ("Dota Legend" or "Soul Clash" in Japan) - Lilith Games, and the game's publisher Longtu Game. Valve requires that Lilith Games and Longtu Game to stop all development and operations work of Dao [...]
