2014-07-10 13:12
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Alibaba and UCWeb’s New Mobile Search Engine: SM.cn
On April 28th, UCWeb and Alibaba officially launched their new mobile web search engine SM.cn (Shenma(神马), means “what” by Chinese netizens). It has been reported that the two companies had established a joint venture company to develop the mobile search business together. Liang Jie, CTO of UCWeb would work as the president of SM.
[Update] On April 30th, UCWeb released an announcement claiming Baidu was suspected to strike SM with its monopoly business. It was said that Baidu would advise users to choose Baidu search engine, which was safer, instead of SM, when users searched “Baidu Tieba”, “Baidu Zhidao”, “Baidu Baike” etc. Besides, user could no longer find UC browser on the app stores subsidiary to Baidu such as Baidu Mobile Assistant, 91 Assistant, Android Market etc.
Big Change in China’s Online Travel Business: Ctrip Gets Tongcheng and Tuniu
On April 28th, Ctrip announced to make a strategic investment of over 200 million USD in China’s large online travel company Tongcheng Network Technology Corp. (LY.com) and became the second largest shareholder of Tongcheng only under the founders’ group. Wu Zhixiang, CEO of Tongcheng said in the internal email that Ctrip would support the company’s independent IPO and Tongcheng would re-start IPO in two years. On the same day, CEO of another online travel company Tuniu, Yu Dunde also announced to his staffs that Ctrip purchased $15 million stake in Tuniu and would have a position in the nine of the board of Tuniu in the future. Tuniu also said that it would keep the independence, and in fact, Tuniu would list on NASDAQ on May 9th, reported by TechWeb.
Kingsoft, Baidu and Xiaomi to Purchase Cheetah Shares
Kingsoft announced on April 28th that Cheetah had signed an agreement with Kingsoft, Baidu and Xiaomi that the three companies would purchase at most 50 million USD stocks in Cheetah during its IPO.
Alibaba Buys 18.5% Stake in Youku Tudou
On April 28th, Youku Tudou Group (NYSE:YOKU) announced to establish a strategic investment partnership with Alibaba. Alibaba and Yunfeng Capital would buy 18.5% class A Youku Tudou shares for 1.22 billion USD, among which Alibaba got 16.5% and Yunfeng Capital 2%.
Sohu’s $79 million Loss in 1Q14
On the afternoon of April 28th, Sohu released its un-audited 1Q14 financial report, which showed that the total revenue came in at 365 million USD, a 38% increase YoY, and the net deficiency came in at 79 million USD.
Xbox to Launch China in September
Microsoft and BesTV held a press conference on April 30th announcing to start the sale of Xbox in China in September. Xbox would be loaded with BesTV’s video resources and Xie Enwei, senior vice-president of Microsoft China would work as the joint venture company’s general manager.
Yang Yuanqing: the First Asian to Obtain Edison Award
On May 1st, NGO Edison Universe held the prize-giving ceremony for the 2014 Edison Award honorees. Lenovo’s CEO Yang Yuanqing has become the first Asian to be awarded. Besides Yang’s individual award, Lenovo’s Yoga tablet and intelligence desktop “Horizon” also won prizes.
