China Tech Newsletter – Aug. 11, 2015

LeTV Connected Bike
LeTV Connected Bike

Online video and smart device company LeTV, or Leshi, launches a connected bike.

The company also unveiled today a smart gadget brand GENE. The product line under the brand will include sports camera, drone, wearable, apparel & accessories, and connected luggage & bag.

Ant Financial, Alibaba’s finance arm, has led an approximately US$200 million new round of funding in, which provides undergraduates with installment payment options. Participating investors include existing investors Kalends, Blue Run Ventures and Source Code Capital.

The startup was founded in March 2014 and now has 2000 employees.

Hrofirst, a HR management solution developer, has raised Series A funding from SB China Capital. (via

Online discount retailer VIPShop reported second quarter revenue growth of 78%. Operating income increased 192% year-over-year. Operating margin increased to 4.9% from 2.9%.

51Job reported second quarter results.

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