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GigaCloud Responds to Grizzly's Short-Seller Report
GigaCloud, 5/23/24
GigaCloud Technology (Nasdaq: GCT), a Chinese provider of global end-to-end B2B technology solutions for large parcel merchandise, today issued the following statement in response to the claims made in a report by Grizzly Research LLC, a short-seller, issued on May 22, 2024. Read More
Tencent Completes Acquisition of Search Engine Operator Sogou
Sogou, 9/23/21
Chinese online search engine operator Sogou (NYSE: SOGO) today announced the completion of its acquisition and privatization by internet conglomerate Tencent (0700.HK). Read More
Gridsum Announces Completion of "Going Private" Merger
Gridsum, 3/25/21
Gridsum Holding ("Gridsum" or the "Company") (Nasdaq: GSUM), a provider of cloud-based big-data analytics and artificial intelligence solutions in China, today announced the completion of the merger with Gridsum Growth Inc. ("Merger Sub"), a wholly-owned subsidiary of Gridsum Corporation ("Parent"), pursuant to the previously announced agreement and plan of merger, dated as of September 30, 2020 (the "Merger Agreement"), by the Company, Parent and Merger Sub. Read More
Market Cap of China's Listed Internet Firms Up 5.6% QoQ in Q4 2020
CAICT, 1/07/21
As good fiscal stimulus and vaccine news in countries around the world boosted global stock markets in Q4 2020, total market cap of China's publicly traded Internet companies rose 5.6% QoQ to RMB 17.8 trln, reports the Policy and Economics Research Institute of the China Academy of Information and Communications Technology (CAICT), a department of China's Ministry of Industry and Information Technology (MIIT). Read More
Q3 2020 Investment in Chinese Internet Startups Down 9% QoQ
CAICT, 10/16/20
As China's domestic economy maintained its gradual recovery, capital markets for Chinese internet startups also remained relatively stable in Q3 2020, with the total amount of investment and financing disclosed for the quarter coming to USD 6.22 bln, down 8.9% QoQ and 39.0% YoY, according to Chinese government data. Read More
Gridsum Enters into Definitive Agreement for Going-Private Transaction
Gridsum, 10/01/20
Beijing-based Gridsum Holding Inc. ("Gridsum" or the "Company") (Nasdaq: GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence ("AI") solutions in China, today announced that it has entered into an Agreement and Plan of Merger (the "Merger Agreement") with Gridsum Corporation ("Parent"), and Gridsum Growth Inc., a wholly owned Subsidiary of Parent, pursuant to which the Company will be acquired by an investor consortium led by Mr. QI Guosheng (the "Chairman"), chairman of the board of directors of the Company (the "Consortium") in an all-cash transaction that values the Company's equity at approximately USD 75.5 mln (the "Merger"). Read More
Online Recruitment Platform 51job Receives Preliminary Privatization Proposal
51job, 9/17/20
Chinese online recruitment platform operator 51job (Nasdaq: JOBS) announced today that its Board of Directors has received a preliminary non-binding proposal letter dated September 17, 2020 from DCP Capital Partners (the "Proposing Buyer") to acquire all of the outstanding common shares of the company for USD 79.05 in cash per common share (the "Proposed Transaction"). Read More
Sogou Receives Privatization Proposal from Tencent
Sogou, 7/27/20
Chinese online search engine operator Sogou (NYSE: SOGO) has announced that today it received a privatization proposal from its largest shareholder, Chinese internet giant Tencent (0700.HK). Read More
Q2 2020 Investment in Chinese Internet Startups Up 37% QoQ
CAICT, 7/11/20
Driven by the continued recovery of China's economy and looser liquidity, capital markets for Chinese internet startups rebounded strongly in Q2 2020, with the total amount of investment and financing disclosed for the quarter coming to USD 6.52 bln, up 37.0% QoQ but down 18.4% YoY, according to Chinese government data. Read More
Market Cap of China's Listed Internet Firms Down 4.2% QoQ in Q1 2020
CAICT, 4/30/20
Battered by the COVID-19 pandemic in Q1 2020, total market cap of China's publicly traded Internet companies dropped 4.2% QoQ to RMB 11.10 trln, reports the Policy and Economics Research Institute of the China Academy of Information and Communications Technology (CAICT), a department of China's Ministry of Industry and Information Technology (MIIT). Read More
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