Alibaba’s Jack Ma published an article on The Wall Street Journal, encouraging American businesses to sell goods to Chinese consumers through Alibaba’s marketplaces.
“Cross-border purchases by China’s online shoppers have grown tenfold since 2010, from less than $2 billion to more than $20 billion in 2014.”
Uber joins “the money-burning game” in China. — Report by The New York Times
Logistics solution provider oTMS (Open Transport Management System) announces US$10 million Series A+ round of funding from Chengwei Capital and returning investors, Baidu and Matrix Partners China. (via Donews)
The company announced US$6 million Series A round in late 2014. oTMS provides a suite of PC-based management programs for tracking and managing shipments, as well as mobile apps for all the parties involved, suppliers, transport providers, drivers and cargo receivers.
Tuhu, a platform for auto maintenance and repair services, announces Series C round of financing from Legend Capital, Qiming Ventures, Haitong Securities, Joy Capital and Far East Horizon. (via Tencent Tech)
3600 auto service shops in 266 cities have signed up, according to the company.
Founded in 2009, Cloud Shops enables sellers to manage their stores on different online marketplaces such as Taobao, JD.om, Dangdang, Amazon China, VIPShop, Suning, Gome and Yihaodian in one place.
Sungy Mobile Limited (Nasdaq:GOMO) is going private. The Android app developer got listed on the NASDAQ in November 2013.
Online sports lottery retailer 500.com announces that Tsinghua Unigroup International Co., Ltd will purchase 15.2% of the company’s issued and outstanding ordinary shares with US$123.8 million.