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One of Airbnb’s major Chinese rivals is in talks with investors to raise about $100 million in a new funding round, people familiar with the matter said.
Beijing-based Xiaozhu was valued at $1 billion in its previous round in November when it raised $120 million from investors including Yunfeng Capital, a private equity fund backed by Alibaba founder Jack Ma. The talks for the new round ...
Tencent’s 2016 megadeal to buy Supercell cemented the Chinese tech giant’s stature as a global powerhouse in the $100 billion-plus videogame industry. The roughly $8 billion transaction by a Tencent-led group of Chinese investors was a huge bet that the Finnish mobile game maker behind worldwide hit “Clash of Clans” would keep creating new blockbusters.
Two years ...
China’s Meituan, the world’s fourth most valuable startup last valued at $30 billion, is now drafting its application to go public in Hong Kong as early as this September, according to people briefed on the matter. Last week, the founder of the online services app, Chief Executive Wang Xing, flew to Hong Kong and met with bankers to discuss the company’s IPO filing plans.
When Chinese tech giant Baidu bought hardware startup Raven Tech early last year for about $90 million, executives hoped the maker of smart speakers would be a lynchpin of Baidu’s artificial intelligence strategy. Raven’s central role seemed to be cemented when its speaker received prominent billing at Baidu’s annual tech conference in November.
But a few months later, after ...
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