China Tech Newsletter – Sept 29, 2015

Zaozuo, an online furniture retailer that works directly with makers and manufacturers, has raised Series A funding led by Bertelsmann Asia Investments, with participation from IDG Capital PartnersMorningside Ventures and ZhenFund.

Business and tech news website Huxiu has filed offering documents with China’s New OTC Market (or China’s New Third Board).

Founded in February 2012, the site had 1.4 million registered readers as of July 2015. With some 50 employees, Huxiu counts on its more than 2000 contributors for content generation.

The company made RMB9.3 million (US$1.5M) in total revenues from online and offline marketing in 2014 and RMB5.7 million (US$910,000) in the first five months of this year, respectively.

Shanghai Yunxin Investment Management Ltd. (our translation), a venture capital firm of Alibaba’s affiliate Ant Financial Services Group, has a 15% stake in the company.

Alibaba Group and its finance arm Ant Financial Services Group announced a strategic investment in Indian payment company Paytm. (via YourStory)

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