Weekly News Roundup

China food delivery start-up reaches $30 billion valuation Based in Beijing, Meituan is one of the top two food delivery companies. Since its merger with Dianping, the Chinese version of Yelp, two years ago, the new company China Internet Plus’s valuation has been growing steadily. After its most recent round of funding, the company is now…

Chinese startup’s ‘8K’ VR headset is surprisingly advanced A Chinese startup by the name of Pimax simply went ahead at CEATEC. The Pimax 8K headset which not only features an incredible 7,680 x 2,160 resolution (more on that later), but also laser tracking that works with HTC Vive’s base stations, plus an impressive 200-degree FOV which is…

One in three unicorns is now being born in China So far in 2017, 12 of the 33 new $1 billion startups around the world are in China. More than a quarter of new unicorns have been created in China since 2010. The rise comes as a flood of private capital has lifted startup valuations around…

Alibaba Says It’s About to Build Up a Massive Logistics Network Chinese e-commerce firm Alibaba Group announced it will invest 100 billion yuan ($15.12 billion) over five years to build a global logistics network and also take control of a $20 billion unit, underpinning an aggressive overseas expansion. Read More>> Source: Fortune     China…

Chinese bike-sharing company Mobike expands to the US One of the biggest bike-sharing companies, Mobike, launched its service in Washington D.C. on September 20, 2017. The United States is the company’s seventh overseas market, following Britain, Italy, Japan, Singapore, Thailand and Malaysia. Before the official launch in the States, Mobike has already partnered with AT&T and Qualcomm…

Weibo users are given one-week warning to provide real names The 340 million users of Sina Weibo, China’s popular microblogging service, have been given one week to link their accounts to a real name. The crackdown is being conducted in order to comply with new government rules restricting anonymous online conversation. Read More>> Source: TechCrunch     China…

83% Chinese aware of mobile wallets compared with 57% in Asia China has the highest awareness of e-wallet in Asia, which is being driven by the ubiquity of homegrown Internet giants, as many of them have started to incorporate digital payment features as part of their offering to consumers. While only 25% of respondents from…

In China, you can rent umbrellas, basketballs, and even washers Following the wave of bike-sharing, the sharing economy has become Chinese entrepreneurs’ go-to model for starting new businesses. Now there are companies that let customers rent and share things beyond thought: umbrellas, power banks, and even gym equipment. Read More>> Source: The Washington Post  …

August 14th-18th  Facebook tests water with a stealth app in China Facebook released a photo-sharing app in China; Colorful Balloons that behaves almost exactly like their own Moments without any of the official branding that would lead to a guaranteed rejection. Read More>> Source: Engadget     Rapid Growth of Online Retail Market in Beijing…