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Skill-sharing Service App Bixin Secures USD 8-digit Series A Funding
36Kr.com, 3/22/18
Shanghai-based Yitan Network Technology, operator of skill-sharing service app Bixin, recently completed USD 8-digit Series A funding led by IDG Capital Partners at a post-money valuation of USD 100 mln. Read More
WeChat-based Identity Card Pilots in Guangzhou, to Expand Nationwide in January
Southern Metropolitan News, 12/25/17
Chinese internet conglomerate Tencent (0700.HK), in concert with more than ten Chinese government and commercial organizations including the Guangzhou Public Security Bureau's Nansha district office and China Construction Bank, recently formed a new "Weijing Yun Lianmeng" ("WeChat-Police Cloud Alliance") in Guangzhou to develop a national WeChat-based identity card system called "Wang Zheng" (literally "Network ID"). Read More
iCafe8 Takes 22% Stake in China Telecom's Dazzle Interactive
National Business Daily, 6/03/14
Hangzhou-based Internet cafe platform operator Hangzhou Shunwang Technology (iCafe8) (300113.SZ) has entered into a framework investment agreement with the China Culture Industry Investment Fund, China Telecom (NYSE: CHA; 0728.HK), and China Telecom's Nanjing-based game platform operator Dazzle Interactive, by which iCafe8 will acquire a 22% stake in Dazzle Interactive for RMB 220 mln. Read More
iCafe8 to Acquire Shanghai-Based Internet Cafe Service Firms
Shenzhen Stock Exchange, 9/10/13
Hangzhou-based internet cafe platform operator Shunwang (iCafe8) (300113.SZ) has reached a preliminary agreement with the shareholders of Shanghai-based internet cafe software developers Hintsoft and Paibo, as well as Shanghai-based online advertising firm Linkfield, to acquire 100% stakes in the three companies for a total sum not to exceed RMB 250 mln. Read More
Netease to Invest RMB 30 Mln to Promote Competitive Gaming
Sina Tech, 9/04/13
William Ding, CEO of Chinese internet company Netease (Nasdaq: NTES), has announced that the company will invest RMB 30 mln to promote the development of competitive gaming in China as part of the company's "Bread Campaign" ("Mianbo Xingdong"). Read More
China's 2012 Internet Café Market Down 13% YoY
17173.com, 4/28/13
In its recent 2012 Report on the Chinese Internet Café Market, China's Ministry of Culture found that there was a total of 136,000 internet cafes around China as of the end of 2012, housing 11.95 mln computers and serving 126 mln users. Read More
NetEase to Co-Operate Games with Internet Cafes
17173.com, 11/29/12
Chinese online game developer and operator NetEase (Nasdaq: NTES) recently launched its "Online Gaming Operations Community," co-operating online games with over 10,000 internet cafes which will receive a revenue share. Read More
iCafe8 to Facilitate Mobile App Downloads
DoNews, 6/25/12
Hua Yong, chairman of Hangzhou-based Internet café platform operator Shunwang Technology (iCafe8) (300113.SZ), recently told reporters that iCafe8 sees internet cafes becoming a channel providing mobile content, including mobile software and games. Read More
Chinese Readers Value E-books at RMB 3.5
The Beijing News, 5/07/12
Wei Yushan, vice president of the Chinese Academy of Press and Publication, recently released the results of a national sample survey which revealed that the majority of readers in China are willing to pay an average price of RMB 3.5 for one e-book, with nearly half of those readers able to purchase an e-reader. Read More
iCafe8 to Acquire Shanda Subsidiary Jisheng
Oriental Morning Post, 4/13/12
Hangzhou-based internet café platform operator Shunwang Technology (iCafe8) (300113.SZ) released a public filing yesterday announcing that it intends to acquire 100% of Chengdu-based Jisheng Technology from online media and game operator Shanda Interactive for RMB 80 mln. Read More
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