PayPal watches a China licenses first foreign e-payments firm
China has issued so many electronic payment licenses by now that I mostly ignore the steady stream of announcements about new licensees, who now number more than 250. I was getting ready to ignore the latest report of a new batch of such licenses, when my attention was attracted by a news bit deeper in the story saying the fifth batch of awards included the long-anticipated first license for a foreign-backed company. The move looks promising for a number of foreign companies that have been waiting impatiently for years to enter the market, led by eBay’s (Nasdaq: EBAY) PayPal online payments unit. Read Full Post…
The alliance between Tencent (HKEx: 700) and JD.com (Nasdaq: JD) formed earlier this year is quickly revving up to challenge Alibaba’s dominance of China’s C2C e-commerce segment, with word of 2 big new moves in the space. This new alliance immediately challenged Alibaba shortly after its formation, pooling the 2 companies’ resources to create a player with a quarter of the market in the lucrative B2C space that sees major retailers sell their products to consumers online. But Alibaba still has near-complete dominance over the equally lucrative but more fragmented C2C space, sometimes called online auctions, which sees individuals and small merchants sell their products to consumers online.
Online professional networking leader LinkedIn (NYSE: LNKD) took a big step towards entering the lucrative but tricky China market last week when it created a new China chief position and filled it with an industry veteran as it explores a formal service launch. The move was just the latest in the company’s slow and careful approach to China, and could boost its chances of success in a market that has proven difficult for other global giants like Google (Nasdaq: GOOG), Yahoo (Nasdaq: YHOO) and eBay (Nasdaq: EBAY). Read Full Post…
Just days after making its first acquisition in China under a new CEO, faded US search giant Yahoo (Nasdaq: YHOO) is reportedly in talks to re-acquire the Chinese rights to its brand from former China partner Alibaba. The reports, if true, would be the latest signal that Yahoo is gearing up for a major new attempt to become a player in China’s huge Internet market, following 2 failed previous attempts. If such a new foray really comes, Yahoo would join other major US Internet giants such as eBay (Nasdaq: EBAY) and Google (Nasdaq: GOOG), which also look set to make big new pushes into China following earlier failures. Read Full Post…
China’s regulators have never been known for moving fast on anything, and that case seems to apply even more when it comes to allowing foreign players into emerging markets like third-party payment services. More than 2 years after China began awarding licenses for its domestic companies to offer such, foreign companies are still waiting for equal rights in the lucrative domestic market. But now US e-commerce giant eBay (Nasdaq: EBAY) is saying it could soon become the first foreign licensee to enter the market, providing both a big opportunity but also a major challenge as it seeks to catch up to Chinese rivals with more than a 2-year head-start. Read Full Post…
The following press releases and media reports about Chinese companies were carried on June 18. To view a full article or story, click on the link next to the headline.
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eBay (Nasdaq: EBAY) To Become First Foreign Financial Payments Licensee (Chinese article)
A couple of weeks after news first leaked out of eBay’s (Nasdaq: EBAY) return to China through a new partnership with an online fashion seller (previous post), we’re getting more details about the tie-up with Xiu.com. My major takeaway is that this looks like a smart, well-conceived arrangement that could have a strong chance of success. EBay seems to have learned some important lessons and is applying them to this new tie-up, following its previous Chinese foray that began nearly a decade ago and ended in a failure costing the company hundreds of millions of dollars.
The following press releases and media reports about Chinese companies were carried on November 13. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Alibaba Group Q2 Profit Doubles to $270 Mln (Chinese article)
Jingdong Mall Raises $400 Mln in New Fund Raising Round – Source (Chinese article)
eBay (Nasdaq: EBAY) Joins with Xiu.com to Bring Global Style to China (Businesswire)
I’ve always wondered whatever happened to online job site ChinaHR since its purchase in 2008 by US industry leader Monster Worldwide (NYSE: MWW); now I have my answer with new reports that the tie-up has been more or less a failure and that Monster plans to sell its main China asset. This latest disaster shouldn’t come as a huge surprise to anyone, since Monster follows a long list of much better known US web giants that have also tried and failed in China, including Google (Nasdaq: GOOG), Yahoo (Nasdaq: YHOO) and eBay (Nasdaq: EBAY).
There are a few interesting news bits on the e-commerce front, led by word that Walmart (NYSE: WMT) is busy overhauling the management at its newly acquired Yihaodian online store, in what looks like a questionable move that could set the company up for failure. Meantime, media are also reporting that the e-commerce arm of Tencent (HKEx: 700) is launching a direct assault on Jingdong Mall, in the latest chapter of China’s never-ending online price wars.
After failing badly in its first attempt in China, US e-commerce giant eBay (Nasdaq: EBAY) is preparing for a second try at the market by teaming up with a local player online apparel seller named Xiu.com. Media reports are citing an unnamed knowledgeable source about this latest tie-up, but from my perspective it seems quite credible as eBay has been reportedly looking for a new China partner for much of the last year. (Chinese article)
A couple of weeks after news first leaked out of eBay’s (Nasdaq: EBAY) return to China through a new partnership with an online fashion seller (
I’ve always wondered whatever happened to online job site ChinaHR since its purchase in 2008 by US industry leader Monster Worldwide (NYSE: MWW); now I have my answer with new reports that the tie-up has been more or less a failure and that Monster plans to sell its main China asset. This latest disaster shouldn’t come as a huge surprise to anyone, since Monster follows a long list of much better known US web giants that have also tried and failed in China, including Google (Nasdaq: GOOG), Yahoo (Nasdaq: YHOO) and eBay (Nasdaq: EBAY).
There are a few interesting news bits on the e-commerce front, led by word that Walmart (NYSE: WMT) is busy overhauling the management at its newly acquired Yihaodian online store, in what looks like a questionable move that could set the company up for failure. Meantime, media are also reporting that the e-commerce arm of Tencent (HKEx: 700) is launching a direct assault on Jingdong Mall, in the latest chapter of China’s never-ending online price wars.
After failing badly in its first attempt in China, US e-commerce giant eBay (Nasdaq: EBAY) is preparing for a second try at the market by teaming up with a local player online apparel seller named Xiu.com. Media reports are citing an unnamed knowledgeable source about this latest tie-up, but from my perspective it seems quite credible as eBay has been reportedly looking for a new China partner for much of the last year. (
