Bottom line: Alibaba’s new video streaming service could presage a buyout offer for Youku Tudou, while Didi Kuaidi’s massive new fund-raising presages a bloody battle with Uber in the hired car services market.
Didi Kuaidi in big new fund-raising
Two major strategic moves are in the Internet headlines today, reflecting growing rivalries between some of the biggest names in the red-hot markets for online video and hired car services. One move has e-commerce giant Alibaba (NYSE: BABA) disclosing its plans to launch a video streaming service that it hopes can emulate the success of US giant Netflix (Nasdaq: NFLX). The second has Didi Kuaidi, which was recently formed by the merger of China’s 2 largest taxi app operators, disclosing it is raising $1.5 billion in new funding to take on the aggressive Uber. Read Full Post…
The following press releases and media reports about Chinese companies were carried on June 16. To view a full article or story, click on the link next to the headline.
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Didi Kuaidi Seeks $1.5 Bln in Funding to Fend Off Uber – Source (Chinese article)
Alibaba (NYSE: BABA) Plans to Roll Out Paid Video Service (Chinese article)
Lawson Plans To Triple China Convenience Store Count to 1,000 in 2-3 Years (Chinese article)
iDreamSky (Nasdaq: DSKY) Receives Proposal to Acquire the Company (GlobeNewswire)
Cisco (Nasdaq: CSCO) Plans to Lay Offs Several High-Level China Executives (Chinese article)
Bottom line: Twitter’s growing pursuit of business from Chinese advertisers shows it is watching the market for a potential future entry, while a new equity tie-up could see Didi Kuaidi’s hired car services launch on Weibo later this year.
Twitter chases China advertisers
Social networking (SNS) pioneer Twitter (NYSE: TWTR) and its Chinese clone WeiboCorp (Nasdaq: WB) are both in the China headlines today, each taking gambles on different parts of the market. After previously saying that China isn’t a market where it can do business, the original Twitter has quietly begun to court local advertisers, even as its actual service remains blocked in the country. Meantime, Weibo, which rose to prominence after Twitter was first blocked in China in 2009, has announced a relatively large new investment in local hired car services leader Didi Kuaidi. Read Full Post…
Bottom line: Didi Kuaidi’s IPO could come as early as the fourth quarter, with Hong Kong, China and New York standing equal chances of winning what could be the year’s biggest China Internet listing, worth up to $2 billion.
Didi Kuaidi to list in Q4
Just days after launching a massive promotion to attract new customers to its private hired car services, Didi Kuaidi is reportedly starting the process that could end with a major IPO for China’s largest taxi app operator by year end. Such a development wouldn’t come as a huge surprise, following the company’s formation earlier this year through the merger of 2 bitter rivals to create a Chinese market leader reportedly valued at up to $9 billion.
But equally interesting will be where this fast-driving company chooses to list. Just a year ago the answer would have almost certainly been New York, which is where most of China’s top Internet companies are traded. But a recent boom in China’s own stock markets and a new program that allows mainland investors to buy Hong Kong stocks have made Chinese Internet companies start to seriously consider both of these markets for IPOs as well. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 28. To view a full article or story, click on the link next to the headline.
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Buffett-Backed Automaker BYD (HKEx: 1211) Plans Up To $1.9 Bln Placement (English article)
Blocked in China, Twitter (NYSE: TWTR) Still Courts Chinese Firms For Ads (English article)
Sina Weibo (Nasdaq: WB) to Invest $142 Mln in Taxi App Didi Kuaidi (English article)
Gucci China Discounts Prompt Lines as Bagmaker Clears Stock (English article)
Chinese Airline Juneyao IPO Surges by Limit 44 Pct on Shanghai Debut (English article)
The following press releases and media reports about Chinese companies were carried on May 26. To view a full article or story, click on the link next to the headline.
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Didi Kuaidi Meet Driver Opposition Post-Merger, May Target Q4 IPO (Chinese article)
Foreign Drugmakers Face More Pressure to Lower Prices in China (English article)
The following press releases and media reports about Chinese companies were carried on February 17. To view a full article or story, click on the link next to the headline.
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Ourpalm (Shenzhen: 300315) Acquires 3 Game Firms In 4.3 Bln Yuan Deal (Chinese article)
Anbang Pledges $1.1 Bln Capital In Purchase Of Vivat (English article)
Zynga (Nasdaq: ZNGA) Loses $226 Mln In 2014, Shutters Zynga China (English article)
Vipshop (NYSE: VIPS) Reports Unaudited Q4 And Full Year 2014 Results (PRNewswire)
Yongche Complains Of Monopoly With Didi-Kuaidi Taxi App Merger (Chinese article)
