China Tech Newsletter – Nov. 3, 2015

Live video streaming site announces Series B funding led by U9TIME, an online game news and services platform, and joined by Tencent, valuing it at RMB1.3 billion (about US$200M).

Tencent also participated in Longzhu’s Series A round together with SoftBank in 2014. After the latest funding round Tencent will own 20% in Longzhu and U9TIME will hold 21%.(via Sina Tech)

Yunnex (aka. Zhangbei), an mPOS terminal maker, has raised Series A funding led by FH Capital and joined by existing investor GSR Ventures, the company announced today.

Yunnex supports, apart from bank cards, Alipay and WeChat Payment. It has also integrated WeChat’s mobile shop system that businesses can sell goods through Yunnex system., a Quora-like Q&A site, has reportedly raised some US$50 million in Series C round of funding led by Tencent, with participation from existing investors including Innovation Works and SAIF Partners.

The site had had some 17 million registered users and approximately 100 million monthly visitors as of March 2015. (via

ZTE Cloud, the cloud services brand of the telecom equipment and systems giant launched today, is targeted at SMEs. (via Sina Tech)

Bluefocus Communication Group has introduced two new shareholders, and Lenovo.


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