China Tech Newsletter – Aug. 6, 2015

Xiaomi App Store, the Android app store bundled in with Xiaomi’s MIUI system, had passed 20 billion downloads as of June 2015, with daily downloads peaking at 85 million. Xiaomi paid out a total of RMB580 million (about US$94m) to third-party app developers in the first half of this year.

The store was launched in May 2012. A major update will be released later this month.

As Google Play still hasn’t been widely available in mainland China, the Android app distribution market is now dominated by big tech companies including Tencent, Qihoo 360 and Xiaomi.

Online video company Youku-Tudou announces rebrand to Heyi (“convergence”) Group.

The company also announced today investments in five startups, AcFun (danmaku video site), Jiae (smart and creative hardware platform), Joyme (online community for gamers), Rongyiedu (artist training) and Luojisiwei (digital media).

Used electronics trade-in site Aihuishou has raised Series C funding led by Tiantu Capital with participation from, Greenwoods Investment, and existing investors Morningside Ventures and International Finance Corporation. The service was launched in May 2011. (via Sina Tech)

A bunch of on-demand chef services announced their funding recently that include idachu, haochushi, Chulinmen (funded by ZhenFund) and Shaofanfan (backed by Xiaomi CEO’s Shunwei Capital Partners).

Drone maker DJI launches its third flagship product Phantom 3.

Tencent leads a US$90 million investment in Indian telemedicine app Praco. — TechinAsia

Gaming company Kalends (SZ:300418), or Kunlun, plans to raise RMB2.5 billion (about US$400m) to make investments in three peer-to-peer lending sites and its own mobile app distribution platform. One of the peer-to-peer lending sites will make loans to game players.

Wuhu Shunrong Automobile Parts Co. and the investment arm of Orient Securities will acquire Japanese video game developer SNK Playmore for US$63.5 million. The King of Fighters series developed by SNK Playmore in 1990’s and 2000’s were enormously popular in China.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s