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Sina Enters into Definitive Agreement for "Going Private" Transaction
Sina, 9/28/20
Chinese online media company Sina (Nasdaq: SINA) today announced that it has entered into an Agreement and Plan of Merger (the "Merger Agreement") with New Wave Holdings Limited ("Parent") and New Wave Mergersub Limited, a wholly owned subsidiary of Parent, pursuant to which Parent will acquire all of the Company's outstanding ordinary shares (each, an "Ordinary Share") not currently owned by Parent and its affiliates in an all-cash transaction (the "Merger") implying an equity value of the Company of approximately USD 2.59 billion for all the Ordinary Shares. Read More
Sina Announces Receipt of Preliminary Non-Binding "Going Private" Proposal
Sina, 7/06/20
Chinese online media company Sina (Nasdaq: SINA) today announced the receipt of a preliminary non-binding proposal letter, dated July 6, 2020, from New Wave MMXV Limited ("New Wave"), proposing to acquire all the outstanding ordinary shares of the company not already owned by New Wave for USD 41 per share in cash in a going private transaction (the "Proposed Transaction"). Read More
Update: HNA Group Terminates Planned Acquisition of E-commerce Firm Dangdang
HNA Technology, 9/20/18
HNA Technology Group, a subsidiary of HNA Group, announced today that it has decided to abandon its effort to acquire B2C e-commerce firm Dangdang Kewen E-commerce and its affiliate Dangdang Network Information Technology. Read More
Messaging App 'Bullet Messaging' Exceeds 7 Mln Users, Plans RMB 1 Bln User-acquisition Push
All Weather TMT, 9/07/18
Luo Yonghao, CEO at Beijing-based mobile OS developer Chuizi Technology and an early investor in Beijing-based Kuairu Technology, operator of mobile instant messaging app Zidan Duanxin (Bullet Messaging), recently published a message on microblogging platform Weibo, stating that Bullet Messaging now has more than 7 mln active users, but that user growth is beginning to cool. Read More
Fresh Food M-commerce App Missfresh Wins USD 450 Mln Funding
Tencent Tech, 9/06/18
Beijing-based Missfresh E-Commerce, operator of fresh food ordering app Missfresh, recently announced completion of USD 450 mln in new funding led by Goldman Sachs Investment Partners, Chinese internet conglomerate Tencent (0700.HK), Jeneration Capital, and Davis Selected Advisers with participation by Poly (Hengqin) Capital Management, Glade Brook Capital, and China Renaissance New Economy Fund, as well as prior-round investors Tiger Global and Sofina. Read More
Smartisan's Messaging App 'Bullet Messaging' Wins RMB 150 Mln Series A
Tencent Tech, 8/28/18
Beijing-based smartphone developer Chuizi Technology (Smartisan)'s messaging app, Zidan Duanxin (literally "Bullet Messaging"), operated by Kuairu Technology, has completed RMB 150 mln in first round funding within seven days of its launch, according to Smartisan CEO Luo Yonghao on his Weibo microblogging account. Read More
Regulators Crack Down on Short Video Operators Bilibili, Miaopai
TechWeb, 7/27/18
Chinese regulators have conducted a cleanup operation targeting China's online short video industry, including bullet-screen video platform operator Bilibili Inc. (Nasdaq: BILI), Weibo's (Nasdaq: WB) official mobile short video recording and sharing app Miaopai, and 17 other online short video platforms. Read More
Suning Yigou App Launches Short Video Content E-commerce Platform
P5w.net, 7/27/18
Hou Enlong, president at Chinese consumer electronics and home appliance retailer Suning.com (002024.SZ), recently announced that the company is launching a new short video content e-commerce platform called Touhao Maijia. Read More
Rumor: Bitcoin Mining Chip Maker Bitmain Lands USD 1 Bln Funding
Sina Tech, 7/16/18
Beijing-based Bitcoin mining hardware maker Bitmain Technologies is reportedly in the process of raising USD 1 bln in new funding and funds are expected to be in place by the end of July, according to IT media outlet TouchWeb. Read More
JD.com to Develop Delivery Drone with 40-60 Ton Payload Capacity
TechWeb, 6/19/18
Richard Liu, CEO at Chinese B2C e-commerce platform JD.com (Nasdaq: JD), recently published a message to microblogging platform Weibo stating that the company has produced its first heavy-duty delivery drone. Read More
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