China Tech Newsletter – June 16, 2015

inWatch T (image credit: inWatch)
inWatch T (image credit: inWatch)

Chinese smartwatch maker inWatch launches inWatch T series, the first that are loaded with Tencent OS (TOS), an Android-based operating system by Tencent unveiled in January this year.

The three models of the series, differing in appearance design, are retailed for RMB799 (US$130), RMB999 (US$160) and RMB1499 (US$240), respectively.

Tencent OS for smartwatch has included a dozen Chinese apps optimized for the system, including WeChat (messaging), Sogou Maps, Didi (ride hailing), Douban FM (music streaming), Paopao (run tracking) and DXY (telemedicine). The majority of these services are either developed or funded by Tencent.

iQiyi, the video streaming service majority owned by Baidu, announces that its paid subscribers have reached five million, more than seven times bigger than a year ago.

The company claims it has a total of 500 million users. Daily unique visitors were 44 million as of 2014.

While a majority of Chinese online video services offer paid monthly subscriptions and pay-per-view, their main source of revenue is still advertising. Subscription-based revenues accounted for less than 10% of the total revenues of Youku-Tudou, iQiyi’s major competitor, in the first quarter of 2015.

HUIVO, which develops educational program management software for kindergarten, has raised Series B round of funding from a venture capital firm under Hejun Group and two other unnamed investors. (via Sina Tech)

Some 5000 kindergartens have adopted its solution and 1.7 million parent users are using the accompanying app.

Exam practice app Xuebajun announces US$50 million in Series B round of funding led by TBP and Qiming Ventures, with participation from M Fund and returning investor Vertex Venture Holdings Ltd.

Launched in 2013, Xuabajun now has 10 million monthly active users. (via Sina Tech)

Game publisher iDreamSky, which just got listed on the NASDAQ ten months ago, plans to go private.


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