After a low-key awarding of licenses last last year, the first batch of new virtual network operator (VNO) mobile carriers are quietly coming into the market this month in a move aimed at shaking up the industry dominated by 3 big state-run telcos. In one of the most anticipated launches, e-commerce giant JD.com has just announced its first mobile packages that show how it plans to compete with the trio of China Mobile (HKEx: 941; NYSE: CHL), China Unicom (HKEx: 762; NYSE: CHU) and China Telecom (HKEx: 728; NYSE: CHA). Read Full Post…
There’s a flurry of news out today on China’s 2 leading e-commerce firms, led by a new IPO filing and major boardroom adjustment at JD.com as the nation’s second largest player prepares to raise up to $1.5 billion through a New York listing. Meantime, industry leader Alibaba has reported impressive earnings for the fourth quarter of 2013, as it also heads towards a major New York listing as soon as later this year. JD’s boardroom change looks most interesting to me, as it’s a bit unusual to see such major movement in a company’s top ranks so close to an IPO. That leads me to wonder if this is the first in a series of moves leading to the eventual marginalization of JD founder and CEO Liu Qiangdong. Read Full Post…
Rising e-commerce giant JD.com has been all over the blogosphere this past week, trumpeting some major adjustments in its core e-commerce unit as it also prepares to become one of the first companies to challenge China’s 3 major telcos under a new plan to open up that sector. Of course all of this comes against the backdrop of JD.com’s own upcoming New York IPO, which could raise up to $1.5 billion.
If I was being cynical, I might say that much of this buzz is aimed at keeping JD in the headlines as it prepares to list, especially since last week saw early signs that the red-hot New York market for Chinese IPOs may be starting to cool. But in this case, I do think that much of the buzz coming from JD seems genuine and isn’t just hype, as the company tries to position itself to pose a major challenge to e-commerce leader Alibaba. Read Full Post…
When is a modestly successful IPO cause for big celebration? The answer is: When your name is LightInTheBox, and you’ve just completed the first IPO in New York by a Chinese company in a half a year. Not only is LightInTheBox the first major New York IPO by a Chinese firm this year, but it’s also only the third such offering since the beginning of 2012, reflecting the chilly investor climate that has stifled such listings on Wall Street for more than 2 years. Read Full Post…
