China Tech Newsletter – Aug. 20-24, 2015

Drone maker Ehang announces US$42 million Series B funding led by GP Capital, with participation from Oriental Fortune Capital and existing investors GGV CapitalZhenFund and LeBox Capital. The company announced US$10 million Series A round in December 2014.

The rumored reshuffle of the top management at the three state-owned Chinese telecom operators has taken place. – Bloomberg

Tuniu reports second quarter results. Tuniu has acquired a minority majority stake in outbound packaged tour wholesaler Beijing Global Tour International Travel Service Co., Ltd (“Wuzhouxing“).

WeChat Moments ad program, similar to Facebook News Feed ad program, now is open to all the brands. — Walk the Chat

Peer-to-peer lending site Dianrong announced on August 20 US$207 million Series C round of funding led by Standard Chartered and China FinTech Fund, with participation from Bohai Leasing and existing investors.

Soul Htite, co-founder, CEO and chairman of Dianrong, co-founded Lending Club.

ZUK, the new smartphone brand of Lenovo that launched earlier this month, will begin selling the international version of its first model Z1 in the Asia-Pacific region, Europe, America and Middle East in September through online marketplaces such as Amazon and local distributors. The version will be pre-loaded with the Cyanogen system. (via Sina Tech)

“Xiaomi will launch in Africa in September through distributor.” — Forbes

Uber launched carpooling service Uber+ in Beijing.

China’s 4G users reached 250 million in July, according to new data release by the Ministry of Industry and Information Technology.

Mobile internet users reached 890 million, of which 3G and 4G users totalled 695 million.

CamCard, the app for scanning and managing business cards that launched in 2010, has had approximately 200 million users, with 45% from overseas markets. (via 36Kr)

Two Chinese chip makers, Rockchip Electronics Co. and Allwinner Technology Co., now have a combined 27% of the global tablet market. — Bloomberg


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