China Tech Newsletter – July 30, 2015

Alipay’s City Services has landed in 47 cities, aiming to expand to 120 by the end of the year.

Alipay’s, unveiled last March, is similar to WeChat’s which was released a couple of months earlier. Both apps enable their users to access a wide range of public services, such as booking and paying for doctor appointments, buying public transport tickets and paying traffic fines.

More than ten of Baidu’s non-search businesses will be open to outside investors. (via Sina Tech)

Baidu Takeout Delivery, a meal and grocery delivery app, has been spun off and raised US$250 million in funding. 91 Wireless, the mobile app distribution business the company acquired in 2013, has recently been spun off, too.

The Chinese search giant’s stock plummeted this week after it reported lower-than-expected earnings and announced today to buy back US$1 billion worth of shares over the next twelve months.

The Carlyle Group announces that it has invested RMB530 million (about US$85m) into vending company Ubox. (via Sina Tech)

Different from traditional vending services, Ubox enables customers to make purchases through its mobile app and then pick goods from any vending machine. It accepts mobile payment services and credit/debit cards.

Not only from retail sales, the company also makes money through ads on its online platform. More than 30,000 Uboxes have been implemented in 58 Chinese cities since 2010.

Online liquor store Jiuxian announced RMB500 million (about US$81) in new funding at an valuation of RMB6.5 billion (about US$1b).

A couple of other Chinese online liquor retailers, Yesmywine and Zhongjiu, announced new funding in recent months.

Online peer-to-peer lending site China Rapid Finance announces US$35 million in Series C funding led by Broadline Capital with participation from UBS Investment Bank and a few other unnamed investors.


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