China
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Chinese bike-sharing startup Ofo raises $866M in new financing led by Alibaba Group
Beijing-based bike-sharing startup Ofo has raised $866 million in new financing led by Alibaba Group to fuel its expensive competition with Mobike, which is backed by Tencent, one of Alibaba’s biggest rivals. Ofo and Mobike are the two largest bike-sharing companies in China. Read More
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Annual smartphone shipments in China declined for the first time in 2017
China’s smartphone market is no longer growing after it witnessed its first annual decline in shipments during 2017, according to new figures released today. The writing was on the wall with a market decline first noted in Q2 but this is the first time a drop has been sustained over a twelve-month period. That’s according to data from analyst firm Canalys which reported that… Read More
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Mike Moritz and the declining America worker
Storied Sequoia investor Mike Moritz threw fire into the tech Twitter gumbo with his observations of hard-working Chinese workers and slothful Silicon Valley engineers. Moritz, a billionaire, clearly needs page views to fund his retirement. The major money quote about Silicon Valley is this: “In recent months, there have been complaints about the political sensibilities of speakers… Read More
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AI voice assistant developer Rokid raises $100M Series B extension to build its U.S. presence
Rokid, a Chinese startup that makes an AI voice assistant and smart devices, just raised a Series B extension round led by Temasek Holdings, with participation from Credit Suisse, IDG Capital and CDIB Capital. The size of the round was not released, but a source familiar with the deal told TechCrunch that it is $100 million. Read More
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Global app downloads topped 175 billion in 2017, revenue surpassed $86 billion
Global app downloads topped 175 billion and consumer spending exceeded $86 billion in 2017, thanks to growth in emerging markets including China, India, Brazil and Russia, according to a new report from App Annie out this morning. Notably, India has now become the number two country by downloads, passing the U.S., which is now third. China has long since been in the lead. The difference… Read More
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Apple asked to respond to China consumer group about slowing older iPhones
Apple is now facing questions about how it slows down older iPhones in China. The Xinhua state news agency reported yesterday that the Shanghai Consumer Council has written to Apple asking it to explain the performance hit and any remedies it is offering to consumers. Someone stole a piece of China’s new solar panel-paved road less than a week after it opened
Putting solar panels into our roads isn’t the craziest idea, but we may as well admit that it poses some unique challenges. For instance, people may want to walk away with pieces of it. That’s what happened in China, anyway, just five days after authorities took opened up what they claim is the world’s first solar panel-paved highway. Read More
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Chinese game streaming platform Chushou raises Series D, adds Google as investor
Google has added Chinese mobile game livestreaming platform Chushou to its list of investments in Asia. The Beijing-based startup announced today that it has closed a Series D round, which Google joined as a new investor, that brings its total funding so far to over $120 million. Chushou’s previous investors Qiming Venture, Shunwei Capital and Alpha X Capital, also returned for this round. Read More
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As Cook and Pichai leave China, Valley confronts rising internet tyranny in world’s second largest market
It’s been a bad few months for internet freedom in China (and really, a bad few decades, but who is counting?). The government brought into force a broad-ranging “cybersecurity law” earlier this year that empowers Beijing to take unilateral control over critical internet infrastructure, while also mandating that foreign companies keep all citizen data local inside China. Read More
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Nvidia’s Shield TV offers Wii and GameCube games in HD in China
Nvidia just rolled out a very interesting selection of software for its over-the-top Shield TV box in China – Wii games, running in 1080p resolution, including New Super Mario Bros. Wii, The Legend of Zelda: Twilight Princess, and PUNCH-OUT!!. It’s only in China, where Shield TV is launching for the first time, but it’s an official tie-up between Nvidia and Nintendo, which… Read More
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