China Tech Newsletter – Jan. 11, 2016

Didi Chuxing, the resulting company following the Didi-Kuaidi merger, processed a total of 1.43 billion orders in 2015, and registered users have surpassed 250 million. (via ChinaNews)

Meilishuo and Mogujie, the two leading social shopping services, announce to merge in an all-stock deal valuing the combined company at approximately US$3 billion. Chen Qi, co-founder and CEO of Mogujie, will serve as CEO at the new company.

Tencent, an investor in Meilishuo, will make an additional investment in the new company, according to the internal mail by Xu Yirong, founder and CEO of Meilishuo.

Both companies started as a Pinterest-like service and would then add a marketplace. The two generated a combined RMB20 billion (US$3bn) in sales in 2015, according to Chen Qi. (via Sina Tech), a social shopping community, announces first round of funding of RMB100 million (about US$16M) from China Growth Capital.

Founded in mid-2010, the site has been generating meaningful revenues from cost-per-sale and display advertising.

Yunniao, a same-city logistics platform, announces US$100 million Series C round of funding led by Warburg Pincus with participation from existing investors Sequoia CapitalMatrix Partners China and GSR Ventures.

Established in October 2014, Yunniao is available in 16 big Chinese cities. (via

Fiil, a smart headphone startup founded by singer-songwriter Wang Feng, announces US$20 million Series A round of funding. The startup launched its first line of headphones in October 2015.


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