Daily Brief: Tencent Invest in Space Travel Company

Tencent Invest in Space Travel Company World View

Arizona-based World View, which aims to loft passengers to the stratosphere by late 2016, is selling seats on its manned balloon system for $75,000. Customers will float up to an altitude of about 100,000 feet (30,500 m), where they'll get a stunning view of Earth against the blackness of space. World View is also developing unmanned systems that will fly scientific and education payloads to the stratosphere.

Tesla Shut Down its Tmall Shop

Sales and leasing of Tesla cars have suspended as the collaboration is not in line with the company's original car delivery rules.

Yang Yuanqing Speaks on APEC: China Needs System and Mechanism Innovation

Long-term economic growth of China can not reply on cheap labour, Lenovo CEO said.

Xiaomi Acquired Rigo Design

Rigo Design, established in 2009 by Robin Zhu, assisted in designing MIUI V5, V6 and Xiaomi TV.

Momo files for IPO

China mobile-based social networking app, filed with U.S. regulators to raise up to $300 million in an IPO of its American Depositary Shares (ADS). The number of mobile Internet users in China are expected to rise by about 28 percent to 712.4 million between 2013 and 2017, according to market research firm eMarketer.

Momo reported revenue of $13.9 million for the six months ended June 30. Net loss widened to $48.6 million from $8.4 million from a year earlier.