China Tech Newsletter – Sept. 3-7, 2015

LeTV 3D Helmet
LeTV 3D Helmet

LeTV, or Leshi, launches a series of hardware products, including a 3D viewer, a portable bluetooth speaker, a high-end bluetooth speaker, a video transmitter and a power bank.

Social app Momo launches an online concert platform called Momo Xianchang (“on the spot”). Similar to YY Music‘s model, Momo users will be able to interact with singers during a concert, leaving comments or sending virtual gifts. The major difference from YY’s platform is Momo’s will feature professional singers rather than amateurs. YY Music generates revenues from virtual gift sales.

Momo has hired well-regarded Hong Kong musician Liang Qiaobo to run the platform.

All cities in Guangdong Province have signed up to Alipay’s City Services program. (via YCWB)

Xieche, a platform for auto aftermarket products and services, announces Series B funding from Daoming Optics & Chemicals Co.Ltd and RiverHill Fund, the venture capital fund established by Alibaba co-founder Simon Xie. The startup was founded in 2011. (via Sina Tech)

Wang Sicong, the only son to China’s richest man Wang Jianlin, announces to serve as CEO of Panda TV, a live streaming video platform. Its website hasn’t launched yet.

Uber has raised US$1.2 billion for its China operations as part of an ongoing fundraising round, Uber CEO Travis Kalanick told Sina Tech. Investors include Baidu and some “state-level” companies. (report in Chinese)

Didi Kuaidi, Uber China’s major competitor, is reportedly raising US$3 billion. — Reuters.

The venture capital arm of China Post Group has made a strategic investment in Ant Financial Services Group, the financial affiliate of Alibaba Group. Financial terms were not disclosed. (via Yicai)

Baidu will increase spending on India and Indonesia. — Bloomberg


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