China Tech Newsletter – May 26, 2015

Dingtak
Dingtalk

Dingtalk (or Dingding) , the team collaboration app developed by Alibaba Group, has released version 2.0. New features include C-OA (collaboration), C-space (cloud storage) and C-mail (mobile mail).

Dingtalk claims some 300,000 businesses or organizations in over 300 cities have signed up since its launch in January.


Electric scooter maker Niudian Technology (our translation) has raised a combined US$50 million in seed and Series A rounds from investors including GGV CapitalSequoia Capital and IDG Capital Partners.

Founded in 2014, the startup drew much media attention after it had introduced Li Yinan, a former senior executive at Huawei and Baidu, as CEO. Mr. Li was one of angel investors in Niudian.

The company will launch its first lithium battery powered scooter next week. Headquartered in Beijing, Niudian has established a factory in Changzhou, a city in Eastern China.

Niudian’s products will be sold only online. The company plans to partner with 3000 repair shops across China. It hopes to sell its products to the European market next year.


Tech Time, a wholly-owned subsidiary of Qihoo 360, will buy an additional 4.5% stake in Coolpad E-Commerce for US$45 million that will increase the former’s stake to 49.5%.

Coolpad E-Commerce, the joint venture between Qihoo 360 and smartphone maker Coolpad, launched its smartphone brand Qiku earlier this month.


The Priceline Group Inc. will invest $250 million more in China’s leading online travel service Ctrip.


Online travel agent LY.com announces plans to go public on a local stock market. (via Sina Tech) LY’s shareholders include Ctrip and internet giant Tencent.


Amazon China launches fresh groceries delivery service. Goods on Yummy77, the Chinese online fresh food retailer in which Amazon China invested US$20 million in 2014, now are also available on Amazon.


58.com Inc. saw an 81% year-over-year increase in total revenues in the first quarter. The number of paying merchants grew 52% that resulted in a 53% growth in membership revenue; the revenue generated from online marketing services increased 116%.


Tian Ge Interactive reports first quarter results. Paying users grew 24.2% year-over-year, but total revenues only increased 8.1% year-over-year.


Ourgame reports first quarter results.


Alibaba’s digital reading arm Ali-literature (our translation) reveals strategic plans for 2015. The company doesn’t plan to take any profit cuts from third-party content providers on its platform but will introduce works of literature to film production companies or game developers under Alibaba Group or in partnership with the company.

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