China Tech Newsletter – Jan. 27, 2016

image credit: Tencent

WeChat’s display advertising program now supports e-coupons.

It takes only two clicks for a user to save a coupon to the e-coupon organizer on WeChat.

Weibo, the leading micro-blogging service, will roll out a live video broadcasing service and a new news service this year.

Weibo’s official account system, launched in 2011, had had some 960,000 verified business users as of 2015, up 30% from the previous year. (via Sina)

LeSports, the sports content and service provider under LeEco (formerly LeTV), announced to acquire live sports streaming service for RMB300 million (US$46M).

Tmall, the business-to-customer marketplace of Alibaba Group, has signed up more than 2000 booksellers and more than 50 book publishers.

2015 book sales was RMB7.5 billion (US$1.2B), up 73% from the previous year. (via Yicai)

Medical app developer Xingshulin has raised US$30 million new funding from a subsidiary of JoinCare Pharmaceutical Industry Group Co., Ltd, at a valuation of more than US$200 million. The startup announced Series A and Series B rounds of funding in 2013 and 2014, respectively.

Established in 2011, the startup has developed two medical reference apps and one for medical practices.

A subsidiary of Beijing Enlight Media (SZ:300251) will invest US$30 million into Coveredge (Cayman) Inc., the startup behind audio social app Echo, for 20% of the startup’s outstanding shares.

Echo’s existing investors include Meitu, the biggest photo-editing app developer in China.

TAL Education Group reports 43% year-over-year revenue growth in the fourth quarter of 2015.


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