China Tech Newsletter – Feb.1, 2016

Tencent is investing RMB320 million (US$50M) into (or Xun Cheng), the online education platform of New Oriental Education & Technology Group Inc.. Koolearn is preparing for an IPO on a domestic stock market.

Koolearn was established in 2000. In the quarter ended November 2015, Koolearn reported 19% year-over-year revenue growth, 192% increase in registered users and 215% increase in paid users.

Sohu and Changyou reported fourth quarter and full year 2015 results.

Sogou revenues grew 53% year-over-year. Search traffic grew 43%, driven by mobile.

Chinese users can now pay Uber rides with Alipay in Taiwan, Hong Kong and Maucau.  — VentureBeat

Hudong Baike (formerly, a Wikipedia-like site, has filed offering documents with China’s New OTC Market (or China’s New Third Board).

Hongdong Baike Financials (Source: Hudong Baike)
Hongdong Baike Financials(RMB mn)

83% of the revenues in the first half of 2015 was from advertising and the rest from technology services. Top five clients contributed 49% of its total revenues in the first half of 2015.

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