China Tech Newsletter – June 12-15, 2015

Tmall Box Office (TBO), Alibaba’s online video streaming service, will launch within two months.

That paid content will account for 90% of the total differentiates it from the rest of the Chinese online video services whose major revenue steam is advertising. Apart from purchasing video rights from Chinese or foreign content providers, TBO will also produce original content. (via Sina Tech)


Transport app developer Didi Kuaidi is reportedly raising up to US$1.5 billion in new funding at a valuation between US$12 billion to US$15 billion. — The Wall Street Journal.


Yazuo, a restaurant management software and marketing service provider, has raised “hundreds of millions of yuan” in Series C round of funding led by Ant Financial Services Group, Alibaba’s finance arm. 

Founded in 2006, Yazuo has had more than 15,000 restaurant clients in 220 Chinese cities. The total annual transaction volume through its restaurant manage software has reached RMB30 billion (about US$5bn), according to the company.

The new capital will be used for expanding to other local lifestyle categories. The user account system and data of Alipay, the online payment service under Ant Financial, will be integrated into Yazuo’s solutions.


Freelance worker marketplace Zhubajie announces RMB2.6 billion (about US$400m) new funding from Cybernaut, which contributes RMB1.6 billion, and a state-owned organization of Chongqing Municipal Governement (Zhubajie is based in Chongqing).

Launched back in 2006, Zhubajie announced last Friday (June 12) to stop charging commission.

On-demand service has recently become one of the hottest topics in China’s tech market that several big internet companies have launched their own platforms for freelances, including Meituan (group-buying), 58 (local listings) and JD (online retail).


Telemedicine company Haodaifu (“Quality Doctors”) has raised US$60 million in Series C round of funding from TBP and China Renaissance Capital.

Founded in 2006, Haodaifu was one of the first online platforms in China to connect doctors and patients. Its major competitors include Chunyu Doctor and DXY, both of which are also well-funded. DXY announced US$70 million Series C round from Tencent in September 2014; Chunyu Doctor announced US$50 million Series C in August 2014.


TAL Education Group has invested US$18 million into Shunshunliuxue, a marketplace for consultants for international education. TAL Education’s Liuxue.com, which provide information on studying in foreign countries, will be merged into Shunshunliuxue.

Shunshun pays registered consultants a basic salary and currently doesn’t take any revenue shares. It’s unknown how the company plans to monetize the platform.

The company started with Appliter, a Q&A site connecting Chinese students in US colleges and Chinese who want to apply for those schools, and then pivoted to Shunshunliuxue.


Letv Mobile Co.

, the smartphone subsidiary of Letv (Leshi) established in early 2015, has reportedly raised US$450 million in Series A round of funding at a valuation of US$4.5 billion. Investors include E-town Capital and hot pot chain Haidilao. (via Sina Tech)

Its first Le Superphones, Android-based smartphones, were launched earlier in April.

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