China Tech Newsletter – Jan. 12, 2016

65% of Alipay payment transactions were through mobile in 2015, up from 49.3% a year ago, according to Alipay parent Ant Financial Services Group.

Mobile payments are much more popular in less developed provinces that make up 83.3%, 79.7%, 79.4%, 78.8% and 78.7% of Alipay transactions in Tibet, Guizhou province, Gansu province, Shaanxi province and Qinghai province, respectively.

Shanghai tops Alipay’s average spending ranking in 2015, followed by Zhejiang province, Beijing, Jiangsu province and Fujian province.

41% of the customers of Ant’s online financial products are Post-80’s (born 1980 to 1989) and 37% are Post-90’s. 14% customers are from rural areas.

WeChat announces a self-serve ad tool for placing ads on Moments, the content-sharing platform within the messaging app.

Advertisers are able to choose audiences by location, age, gender, interests and more.

It accepts payments through Tencent’s Tenpay system or wire transfer.

Gaming company Kunlun Group Ltd. announced to acquire 60% in New Grindr, LLC, the owner of gay dating app Grindr, for US$93 million.

Grindr has 10.5 million registered users from 196 countries and 2 million daily active users. More than 30% users are from the U.S.. 66% of its total revenue is from premium subscriptions.

Uber China raised new financing at US$7 billion valuation. — Bloomberg


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