Bottom line: A merger between 58.com and Ganji looks like a smart pairing that would create a clear leader in online classified ads with a market value worth up to $8 billion.
58.com eyes Ganji
China’s Internet world has been buzzing these last 2 days on a steady stream of reports involving a possible merger between leading online classified advertising site 58.com (NYSE: WUBA) and Ganji, one of its biggest rivals. The reports have been somewhat conflicting, some saying a deal is imminent and others saying talks have stalled, but it’s clear that something is happening behind the scenes. The deal certainly looks quite exciting if it’s happening, as it would create a clear market leader anchored in the well-run 58.com, which is often called the Craigslist of China.
This kind of merger often fails to happen in China for reasons of pride, as many of these company founders are fiercely independent entrepreneurs who would rather see their empires slowly crumble than sell to someone else. But more recently we’ve seen some of these entrepreneurs become more realistic and realize they can’t survive as independent companies, and I suspect that’s what’s happening in this case. Read Full Post…
The following press releases and media reports about Chinese companies were carried on February 14-16. To view a full article or story, click on the link next to the headline.
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China Taxi Apps Didi Dache And Kuaidi Dache Announce Merger (English article)
Chinese Smartphone Giant Xiaomi Makes Debut In US Market (English article)
China’s Alibaba (NYSE: BABA) Attracts Attention From US Regulator (English article)
China Cellphone Sales Top 47 Mln In January, 4G Models Account For 77 Pct (Chinese article)
Tech Financier Lee Kai-fu Returns To Beijing, Says Won’t Retire Due To Illness (Chinese article)
The following is Part 6 in a multi-part series about the rise of WeChat, the popular mobile instant messaging service owned by Tencent.
By Lanie Nie
WeChat builds up payment capabilities
WeChat has played a key role in Tencent’s (HKEx: 700) recent efforts to build a “federal republic” on the mobile Internet. That interpretation comes from Cheng Lingfeng, a China tech reporter and former Tencent employee, describing Tencent’s strategy of selling stakes to close partners who promote WeChat Payment, a new service that allows users to link their bank cards to their WeChat accounts to facilitate online transaction payments. Such linkage gives WeChat users easy access to selected paid add-on services like shopping, mobile top up and taxi booking. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 17. To view a full article or story, click on the link next to the headline.
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Citic Pacific (HKEx: 267) In $36.5 Bln Deal To Buy Parent’s Main Business (English article)
China Cellphone Shipments Drop 24.7 Pct In Q1 – MIIT (Chinese article)
Alibaba Could File Prospectus For US IPO Next Week – Sources (Chinese article)
Yingli (NYSE: YGE), Sailing Capital Form 1 Bln Yuan Renewable Energy Fund (PRNewswire)
Taxi App Didi Dache Lands $700 Mln in New Funding – Market Talk (English article)
The following press releases and media reports about Chinese companies were carried on January 7. To view a full article or story, click on the link next to the headline.
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WhiteWave Foods (NYSE: WWAV) To Form JV With Mengniu (HKEx: 2319) (Businesswire)
Unicom (HKEx: 762) Vice President Li Gang Resigns To Join VNO Licensee (Chinese article)
The following press releases and media reports about Chinese companies were carried on December 27. To view a full article or story, click on the link next to the headline.
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MIIT Issues First Batch of Virtual Network Operator (VNO) Licenses (Chinese article)
Didi Dache Wins $100 Mln Funding from Tencent (HKEx: 700), Citic – Source (English article)
Japan Car Makers Brace For China Backlash To Shrine Visit (English article)
China’s Zoomlion (HKEx: 1157) Acquires German Dry Mortar Producer
US IPO Window To Reopen foF Chinese Companies in 2014: Report (English article)
The rapid rise of location-based services (LBS) on the Internet is spawning a new generation of start-up companies, with taxi finders one of the latest to join the trend. Such apps use GPS technology to create services that rely on a person’s location, such as helping that person to find nearby restaurants or shops. Just this week a friend was telling me about one such new LBS to help frustrated consumers find taxis, and now we’re reading about 2 other companies that are moving onto the investor radar with their own new tie-ups. Read Full Post…
