China Tech Newsletter – May 20, 2015

Baihe.com, one of the largest online dating sites in China, announces RMB1.5 billion (about US$240m) in new round of financing from a group of local companies, private equity firms and security companies.

Baihe plans to launch IPO this year on a local stock market instead of in the U.S. as previously planned. Its direct competitor Jiayuan.com went public on the NASDAQ in 2011.


Qihoo 360 reports first quarter results.

Qihoo and Chinese real estate giant HuaYuan Group announced a strategic partnership on smart home security and other smart home projects.

Zhou Hongyi, CEO of Qihoo 360, and Ren Zhiqiang, former chairman of HuaYuan, have set up a venture capital fund focused on smart home hardware.


Fraudmetrix, which provides security solutions to online financial services, announces US$30 million in Series B round of funding led by Qiming Ventures and participated by existing investors, CBC CapitalIDG Capital Partners and Linear Ventures.

Founded in 2013, Fraudmetrix has had some one hundred clients ranging from peer-to-peer lending sites to digital payment services, according to the company.


JPush, a push notification solution provider, announces Series B funding led by Fosun, and joined by Mandra Capital and returning investor IDG Capital Partners.


Zhong An Online Property Insurance Co., the online property insurer backed by Alibaba Group and Tencent, has recently been authorized to offer vehicle insurance policies, including the compulsory liability insurance. (via Securities Daily)


49% of Alibaba employees and 34% of his senior management are women, Jack Ma said at a conference on women entrepreneurship organized by Alibaba. He said over 50% of the executive management had been women prior to the recent acquisitions of tech companies which have higher percentages of male executives.

 

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