China Tech Newsletter – July 14, 2015

Tencent and Shenzhen Huaqiang Holdings will jointly invest RMB10 billion (about US$1.6b) in some 100 hardware startups over the next three years.

NetEase’s music streaming service, launched two years and three months ago, announces 100 million registered users. Its music library has 5 million songs. Allowing users to create and share playlists, the service has got more than 1200 musicians and celebrities on board making and sharing their own. (via Sina Tech)

Other major players in China’s music streaming market include Tencent’s QQ Music, Alibaba’s Xiami, Kugou, Kuwo and Duomi.

Ride-sharing service Didi Kuaidi will release APIs (application programming interfaces) for enterprise clients to build custom features.

Its private car hailing service for enterprise, launched in January this year, has had more than 5000 clients. (via Jinghua)

WeChat users from outside of mainland China now are able to use WeChat Payment, a mobile payment service, so long as they have a bank account or credit card with one of 11 Chinese banks.

Yihaohuoche, a mobile app that connects van drivers and users, has raised Series B round of funding led by DCM Ventures and joined by existing investor Sequoia Capital. (via National Business Daily)

Keede, an online retailer of eyeglasses and contact lenses, has pocketed RMB320 million (about US$32m) investment from Conba Group (SH:600572) at a valuation of RMB1.6 billion (about US$260m).

Keede made RMB400 million (about US$64m) in sales in 2014.


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