China Tech Newsletter – Nov. 25, 2015

Ele.me, the leading food delivery app, confirms strategic investment from Didi, the leading ride-sharing company. Financial terms were not disclosed. (via Matrix Partners China)


Uber launches carpooling service UberCommute in five Chinese cities, Shanghai, Guangzhou, Chengdu, Hangzhou and Shenzhen, and 9 other cities outside of China. Uber began testing it in China in the past September.


Alibaba is reportedly spinning off Xianyu, a mobile marketplace for used and free goods. Xianyu has begun raising outside funding at a valuation of some US$3 billion. Launched in June 2014, the mobile app is seeing more than 200,000 daily transactions. (via TechWeb)


Qihoo 360 announces its joint venture Oriental Shiny Star has obtained exclusive right to publish and operate Cross Fire 2 in mainland China for a five-year term.

Cross Fire has been one of the top-earning games for Tencent.


Qunar reports 380% year-over-year growth in mobile revenues, accounting for 74% of its total revenues, up from 40% a year ago.


Jiayuan reports third quarter earnings.


Tarena reports third quarter results.


58.com announces to spin off its used car marketplace Guazi. Established in 2014, Guazi is now available in some 40 Chinese cities.

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