China Tech Newsletter – Mar. 7, 2016

Alibaba Group is buying control of Hong Kong-listed lottery operator AGTech. — Bloomberg

Business WiFi solution provider Exands announces Series B round of funding led by Zhonghui Capital (not official translation) and joined by Baidu, Hangzhou Financial Investment Group and existing investor ZTE VC.

Exands was established in 2001. Its clients include Starbucks China.

SaaS enterprise software developer Fenxiaoke, or Facishare, announces Series E round of funding.

The company claims to have had more than 300,000 business customers. (via DoNews)

Photo sharing app IN has received approval to list on China’s New OTC Market (or China’s New Third Board).

The service claims to have some 90 million registered users, with 90% being female. Daily photo uploads have surpassed 7 million.

IN Financials (Source: IN)
IN Financials (Source: IN)

(Alimama is the contextual advertising program of Alibaba Group.)

Cloud services provider QingCloud announces US$100 million in Series C funding.


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