Bilibili aims to draw employers with livestream hiring tool
Bilibili wants companies in China to use its livestreaming feature to recruit university students and fresh graduates, as the Covid-19 pandemic has complicated campus recruitment. Why it matters: The streaming platform has been looking for ways to expand beyond its core business in anime, comics,…
Fintech giant Lufax eyes $2.36 billion IPO in New York
Shanghai-based lending and wealth management unicorn Lufax is looking to raise $2.36 billion in its debut on the New York Stock Exchange, according to the market’s website. Why it matters: Lufax is one of two Chinese fintech firms looking to raise multi-billion dollar amounts on…
INSIDER | The label ‘short video platform’ has outlived its usefulness
By now, you’ve likely heard that Douyin and Kuaishou, algorithmically-driven short video apps, have “taken China’s internet by storm.” The folks at Quest Mobile (Chinese) reckon short video apps account for 20% of users’ internet time in H1 2020. That’s no mean feat—it puts short…
Huawei under ‘intense pressure’ as Q3 growth sinks
Huawei said Friday its earnings for the first nine months of the year “met expectations,” though its revenue growth in the third quarter slowed sharply from the previous quarter. Why it matters: The deceleration highlights how US restrictions on Huawei’s ability to source crucial high-end semiconductors…
Online tutor Yuanfudao lands $1.2 billion on doubled valuation
Chinese online education firm Yuanfudao announced the completion of a $1.2 billion Series G2 which valued the company at $15.5 billion, according to a statement sent to TechNode. Details: DST Global led the round, a second batch of Yuanfudao’s Series G, with participation from CITICPE, GIC,…
Direct sales model opens opportunities for Chinese brands
Chinese consumer-facing brands are trying to cut reliance on Taobao and Amazon. Direct sales are an alternative to reliance on platforms.
Tesla to export Chinese Model 3 to Europe as local sales struggle to keep pace
US electric vehicle giant Tesla will begin exporting its China-made Model 3 sedans to a dozen of European countries this month as it faces dual pressures of plunging sales in Europe and slower-than-expected growth in China, according to persons familiar with the matter. Why it…
Singles Day sales begin, ed tech firms nab hefty funding: Retailheads
China is already gearing up for Singles Day, the largest shopping extravaganza in the country even though Nov. 11, the anti-Valentine’s Day from which the festival takes its name, is still three weeks away. Meanwhile, Yuanfudao and Zuoyebang, two of China’s largest ed-tech firms, reportedly…
Sweden bans Huawei, ZTE from 5G networks
Sweden has banned Chinese telecommunications equipment makers Huawei and ZTE from participating in its 5G network rollout, the country’s top telecoms regulator said Tuesday. Why it matters: The development shows European countries are tightening restrictions on Chinese suppliers for their 5G infrastructure, signaling the US government’s…
Major disruption at Okex, Filecoin strike: Blockheads
It was a dramatic week for China crypto. Okex, one of the largest crypto spot and derivatives exchanges, halted withdrawals with an ambiguous explanation of a police investigation involving their founder. The Filecoin mainnet launched on Thursday, then five of its largest miners went on…
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