China Tech Newsletter – Mar. 1, 2016

Tencent, Huayi Brothers, a leading film production company, YF Capital, the venture capital firm co-founded by Alibaba’s Jack Ma, and a few other investors have acquired a majority of the shares of a public shell company and rebranded it as Huayi Tencent Entertainment Company Limited.

Huayi and Tencent hold 18% and 16%, respectively, in the new company.

Tencent is the second-largest shareholder in Huayi Brothers and Alibaba Group the fourth-largest., the live gameplay streaming platform of YY, claims to have had more than 50 million monthly active users, according to Dong Rongjie, executive vice president of YY.

Launched in 2012, Huya had had 100 million registered users as of 2014. The service signed recently a three-year, RMB100 million (US$15M) contract with celebrated gameplay broadcaster MISS. (via Sina Tech)

ABC360, an online English tutoring service, announces Series B round of funding from Guo Jin Capital, the education-focused fund of Zero2IPO Group and the startup accelerator of Tencent.

Established in 2011, the service claims to have accumulated some 40,000 paying users. Most of the tutors on its platform are from the Philippines. (via Sina Tech) reports fourth quarter and full year 2015 results.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s