China Tech Newsletter – Nov. 23, 2015

Xiaomi has begun testing its user data-based credit scoring system among Xiaomi phone users. (via Jinghua)

Social shopping service Mogujie announces Series D financing of more than US$200 million led by Ping An Ventures and joined by Tiantu Capital.

The company claims to have more than 150 million registered users, with over 10 million daily active users. (via Caixin), one of the top dating sites in China, has got listed on China’s New OTC Market (or China’s New Third Board).

Its total revenues in 2014 increased 34% year-over-year to RMB298 million (roughly US$48M), with RMB37 million (roughly US$6M) in net loss. Jiayuan, the leading dating site, recorded US$99 million in revenue in 2014, with US$3.2 million in net income., a Chinese news and reviews website focused on Apple products, has filed offering documents with China’s New OTC Market (or China’s New Third Board).

Established in the wake of the first-gen iPhone’s launch in 2007, the site claims to have had some 10 million registered users.

The company recorded RMB12.5 million (roughly US$2M) and RMB12.6 million in revenues in 2013 and 2014, respectively. More than 95% of its total revenue is from advertising and the rest from gaming. The company hasn’t turned a profit.

Alibaba is seeking to sell its 7% stake in Meituan. — The Wall Street Journal

Travel site Tuniu announces US$500 million investment from HNA Tourism Group.

The China-only Pepsi phone is out. — Engadget


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