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China’s Slowdown Already Hit Its Factories. Now Its Offices Are Hurting, Too.

White-collar workers face job cuts and shrinking paychecks even in go-go industries like technology, suggesting the economic pain is broader than official figures show.
Tags: News, China, JD.com, Layoffs and Job Reductions, Economic Conditions and Trends, Didi Chuxing, Labor and Jobs


Can there be too much competition between startups?

Competition is the core of capitalism. Competition between companies lowers prices — on average — and ensures that they are forced to innovate lest they lose their markets to others. Competition between workers ensures that people strive to do their best work lest their jobs go to more qualified or faster or cheaper replacements. Obviously, there is a spectrum here from lethargic monopoly to cutthroat competition that causes more problems than it’s worth (environmental damage in the hopes of cut...
Tags: Travel, Amazon, Ecommerce, New York, China, Nigeria, Africa, Palo Alto, Alibaba, Venture Capital, JD.com, Silicon Valley, Starbucks, Travis Kalanick, Naspers, Reuters


Chinese e-commerce company JD.Com launches store on Google shopping site

The store's launch comes after Google agreed to invest $550 million in JD.com in June 2018. Google's search engine has been inaccessible from China since 2010, though the company maintains sales and engineering teams in the country. JD.Com also received funding from Walmart, which until recently was one of several companies to operate online storefronts on Google Express.
Tags: Google, News, China, Walmart, JD Com


Moka raises $27M led by Hillhouse to make hiring more data-driven in China

Moka, a startup that wants to make talent acquisition a little more data-driven for China-based companies that range from smartphone giant Xiaomi to Burger King’s local business, announced Monday that it has raised a 180 million yuan ($27 million) Series B round of funding. The deal was led by Hillhouse Capital, an investor in top Chinese technology companies such as Tencent, Baidu, JD.com, Pinduoduo — just to name a few. Other investors who took part include Xianghe Capital, an investment fi...
Tags: TC, Facebook, California, China, San Francisco, Tech, Artificial Intelligence, SaaS, Xiaomi, JD.com, Tencent, Orion, Recruitment, Mcdonalds, Baidu, Burger King


This $550M fund is bringing green tech from the West to China, despite trade tensions

Escalating trade frictions between the U.S. and China have a range of businesses and investors in both countries sweating, but some believe there remains a bright spot where the antagonists can find common ground — fighting environmental issues. One of them is the U.S.-China Green Fund, which does exactly as the name suggests — financing projects in the U.S. (and the west in general) and China that yield both financial and environmental returns. The fund recently closed its maiden fund of 3.7 bi...
Tags: Google, Energy, Uber, Asia, Microsoft, Obama, China, Funding, Barack Obama, Linkedin, Tech, Chicago, Beijing, West, Xi Jinping, President


JD.com shares take off despite slowing revenue growth

Shares of JD.com, the Chinese e-commerce service that rivals Alibaba, are on the rise today after the online retailer announced better than expected results for Q4 2018, bucking uncertainty around tech companies in China. The company reported net revenue of RMB 134.8 billion ($219.6 billion) for the final quarter of last year. Despite representing the slowest growth rate year-on-year since JD went public five years ago (22.3 percent), the figure beat analyst predictions of $19.149 billion. JD...
Tags: Apple, Ecommerce, Asia, China, Tech, Companies, Alibaba, Singles' Day, JD.com, Earnings, Nasdaq, Analyst, Liu, NetEase, Yahoo Finance, Didi


NetEase is the latest Chinese tech giant to lay off a big chunk of its staff

NetEase, China’s second-biggest online games publisher with a growing ecommerce segment, is laying off a significant number of its employees, adding to a list of Chinese tech giants that have shed staff following the Lunar New Year. A NetEase employee who was recently let go confirmed with TechCrunch that the company had fired a large number of people spanning multiple departments, including ecommerce, education, agriculture (yes, founder and executive officer Ding Lei has a thing for org...
Tags: Amazon, Gaming, Ecommerce, Asia, Business, China, Southeast Asia, Tech, Public Relations, E-commerce, Alibaba, JD.com, Amazon China, Tencent, Hangzhou, NetEase


Alibaba challenger Pinduoduo is bringing imported goods to rural homes

Pinduoduo, the latest challenger to China’s ecommerce dominators Alibaba and JD.com, wants to bring affordable, imported items to shoppers in China’s smaller cities and rural areas. The three-year-old Tencent-backed ecommerce upstart is recruiting importers to set up shop on its marketplace, shows a message on its website. The business is known for offering cheap, sometimes counterfeit goods that initially appealed to users from the less prosperous parts of China but have gradually garnered m...
Tags: Amazon, Ecommerce, Asia, China, Tech, E-commerce, Beijing, Alibaba, JD.com, Amazon China, Tencent, WeChat, Alibaba Group, Hangzhou, TechCrunch, Online Marketplaces


China wants its rural villages to go cashless by 2020

Residents of even the tiniest far-flung villages in China may soon be able to pay on their phones to run daily errands as Beijing announced this month that it aims to make mobile payments ubiquitous in rural areas by the end of 2020. The plan arrived in a set of guidelines (document link in Chinese) jointly published by five of China’s top regulating bodies, including the central bank, the Banking and Insurance Regulatory Commission, the Securities Regulatory Commission, the Ministry of Finance ...
Tags: Asia, Finance, China, Tech, E-commerce, Companies, Beijing, Alibaba, JD.com, Tencent, Bank, Payments, Alibaba Group, Online Payments, Hangzhou, Internet Penetration


JD.com’s drones take flight to Japan in partnership with Rakuten

Chinese e-commerce company JD.com is taking its drone delivery system to Japan. Rakuten, the Japanese e-commerce giant, just announced a partnership with JD that will see its drones and unmanned vehicles become a part of Rakuten’s own unmanned delivery service efforts. JD has been operating drones in its native China for a number of years, and it has wider expansion plans having recently gained a regional-level operating license. Its other human-less tech includes self-operating trucks, au...
Tags: Startups, TC, Asia, Japan, Technology, Indonesia, China, Articles, E-commerce, Drone, JD.com, Amazon Prime Air, Rakuten, Emerging-technologies, Delivery Drone


JD.com Launching An Exciting New Promotion That Is Going To Feature The Beloved Transformers Franchise

Since its founding during the late 1990s, JD.com has built one of the most successful models for retail and e-commerce business in the world today. The firm holds the distinction… Read more » The post JD.com Launching An Exciting New Promotion That Is Going To Feature The Beloved Transformers Franchise appeared first on Noobpreneur.com.
Tags: Business, News, JD.com, Transformers, Business Collaboration


Amazon is reportedly merging its China import unit with NetEase

You’d be forgiven for not knowing Amazon has operated in China for more than a decade, but perhaps not for much longer. The company is reportedly in talks to merge its China-based import business with local peer Kaola, the cross-border shopping platform run by Chinese internet behemoth NetEase, Caijing reported (link in Chinese) on Tuesday. The deal, which NetEase initiated and will occur through a stock swap, had been signed at the end of 2018 but negotiations had been difficult, sources ...
Tags: Amazon, Ecommerce, Asia, London, China, Tech, E-commerce, Alibaba, JD.com, Amazon China, Tencent, Vice President, Alibaba Group, Hangzhou, Shenzhen, Online Marketplaces


China’s Alipay digital wallet is entering 7,000 Walgreens stores

China’s payments heavyweights have been following tourists abroad as their home market gets crowded. Ant Financial, Alibaba’s financial affiliate with a said valuation of $100 billion, now sees its virtual wallet Alipay handling transactions at 3,000 Walgreens stores in the U.S. and is eyeing to reach a roster of 7,000 locations by April. The alliance will make it breezier for Chinese tourists eager to pick up vitamin supplements and cosmetics from the pharmacy giant, doing away the hassle of...
Tags: Food, Asia, Hong Kong, Japan, Finance, China, Digital, Tech, Walgreens, Canada, Malaysia, Alibaba, JD.com, Tencent, WeChat, Mobile Payments


Chinese e-commerce challenger Pinduoduo is raising over $1 billion more

The price of competing with e-commerce giants Alibaba and JD.com is immense. That’s evidenced by challenger Pinduoduo, commonly known as PDD, which is raising more than $1 billion in fresh capital just six months after it went public. The company announced plans to sell 37 million shares in a move that will raise over $1 billion, going potentially as high as $1.25 billion if underwriters exercise their full share purchase option. The secondary event will also see a number of existing backe...
Tags: Fundings & Exits, Ecommerce, Asia, China, Funding, Disney, Tech, E-commerce, Companies, Alibaba, JD.com, Tencent, Alibaba Group, Costco, Sequoia, Online Marketplaces


China’s Online Censorship Stifles Trade, Too

When the Chinese government blocks foreign internet companies for political reasons, the United States should treat the tactic as the anticompetitive economic strategy that it is.
Tags: News, China, E-commerce, United States, Xi Jinping, JD.com, Zuckerberg, Google Inc, Facebook Inc, Computers and the Internet, International Trade and World Market, Mark E


First China, now Starbucks gets an ambitious VC-funded rival in Indonesia

Asia’s venture capital-backed startups are gunning for Starbucks . In China, the U.S. coffee giant is being pushed by Luckin Coffee, a $2.2 billion challenger surfing China’s on-demand wave, and on the real estate side, where WeWork China has just unveiled an on-demand product that could tempt people who go to Starbucks to kill time or work. That trend is picking up in Indonesia, the world’s fourth largest country and Southeast Asia’s largest economy, where an on-demand challenger named Fore C...
Tags: Google, Android, Fundings & Exits, Apps, Asia, Indonesia, China, Southeast Asia, Singapore, Funding, Tech, Economy, Companies, United States, Internet Access, Alibaba


Go-Jek confirms first close of $2B Series F round at $9.5B valuation

Go-Jek, the Indonesia-based ride-hailing company that is challenging Grab in Southeast Asia, has announced the first close of its Series F round, as TechCrunch reported last week. The company isn’t revealing numbers but sources previously told us it has closed around $920 million. Go-Jek is planning to raise $2 billion for the round, as reported last year. Go-Jek said that the first close is led by existing backers Google, JD.com, and Tencent, with participation from Mitsubishi Corporation...
Tags: Google, Fundings & Exits, Uber, Asia, Indonesia, Southeast Asia, Singapore, Collaborative Consumption, Funding, Tech, Companies, Thailand, Philippines, Transport, JD.com, Tencent


Go-Jek makes first close of Series F round at $9.5B valuation

Go-Jek, the Indonesia-based ride-hailing company that is challenging Grab in Southeast Asia, has announced the first close of its Series F round, as TechCrunch reported last week. The company isn’t revealing numbers but sources previously told us it has closed around $920 million. Go-Jek is planning to raise $2 billion for the round, as reported last year. Go-Jek said that the first close is led by existing backers Google, JD.com, and Tencent, with participation from Mitsubishi Corporation...
Tags: Google, Fundings & Exits, Uber, Asia, Indonesia, Southeast Asia, Singapore, Collaborative Consumption, Funding, Tech, Companies, Thailand, Philippines, Transport, JD.com, Tencent


Grab raises $200M from Thailand-based retail conglomerate Central Group

Grab’s fundraising push continues unabated after the Southeast Asian ride-hailing firm announced that it has raised $200 million from Central Group, a retail conglomerate based in Thailand. Central’s business covers restaurants, hotels and more than 30 malls in Thailand, while it has operations in markets that include Vietnam and Indonesia. Its public-listed holding companies alone are worth more than $15 billion. Singapore-based Grab confirmed that this deal is not part of its ongoing Series...
Tags: Fundings & Exits, Asia, Microsoft, Indonesia, Southeast Asia, Singapore, Softbank, Funding, Tech, E-commerce, Software, Thailand, Philippines, Transport, JD.com, Toyota


Startups Weekly: Is Munchery the Fyre Festival of startups?

It was a tough week. Journalists around the U.S. were hit hard by layoffs, from HuffPost to BuzzFeed News to Verizon Media Group, which owns this very site. The government entered day 35 of the shutdown before President Donald Trump agreed to a short-term deal to reopen it for three weeks. And in the startup world, a once high-flying, venture-subsidized food delivery startup crashed and burned, leaving a cluster of small businesses in its wreckage. Some good things happened too — we’ll get to...
Tags: Google, Startups, TC, Spotify, Yahoo, Buzzfeed, Abc, Indonesia, Southeast Asia, Softbank, Los Angeles, San Francisco, Tech, Zynga, Munchery, Venture Capital


Go-Jek makes first close of $2 billion round at $9.5 billion valuation

Southeast Asia-based ride-sharing firm Go-Jek is making progress with its plan to raise up to $2 billion in fresh capital to fund its battle with close rival Grab . Indonesia-headquartered Go-Jek has closed an initial chunk of that round after a collection of existing investors, including Google, Tencent and JD.com, agreed to invest around $920 million towards it, three sources with knowledge of the investment told TechCrunch. The deal, which we understand could be announced as soon as next...
Tags: Google, Fundings & Exits, TC, Uber, Asia, Indonesia, China, Southeast Asia, Singapore, Collaborative Consumption, India, Softbank, Funding, Tech, Companies, Thailand


China’s JD.com tests drone delivery in Indonesia in first overseas pilot

We hear a lot about drones having the potential to revolutionize delivery and logistics. It’s easy to be dismissive — in many cases, a robot may take what would be a human’s job — but there are some examples where drone technology could genuinely be transformative. One such case is Indonesia, the world’s fourth largest country that houses a population of over 260 million people across some 17,000 islands. The country, which is the world’s largest archipelago, is the location for e-commerce giant...
Tags: Amazon, Asia, Technology, Indonesia, China, Articles, Tech, E-commerce, Unmanned Aerial Vehicles, Drone, Alibaba, JD.com, Emerging-technologies, Bandung, Jek, Go-jek


China’s Economy, by the Numbers, Is Worse Than It Looks

New figures suggest the economic outlook may be improving but that growth has slowed more than the headline figure shows.
Tags: News, China, JD.com, Automobiles, Economic Conditions and Trends, International Trade and World Market, Factories and Manufacturing, National Bureau of Statistics (China, National Development and Reform Commission (China, Gross National Product (GNP


By the Numbers, China’s Economy Is Worse Than It Looks

New figures suggest the economic outlook may be improving but that growth has slowed more than the headline figure shows.
Tags: News, China, JD.com, Automobiles, Economic Conditions and Trends, International Trade and World Market, Factories and Manufacturing, National Bureau of Statistics (China, National Development and Reform Commission (China, Gross National Product (GNP


Momo, Vietnam’s top payment app, lands big Series C investment led by Warburg Pincus

Fintech in Southeast Asia continues to pique the attention of global investors. Alibaba, Tencent and others have jumped into the region and deployed hundreds of millions of dollars, and now Warburg Pincus is joining them. The U.S-headquartered PE firm has led a Series C investment in Vietnam’s Momo, which claims to be the country’s largest mobile wallet company with 10 million downloads. Momo already has some big-name investors; Standard Chartered led a $28 million round in 2016 while G...
Tags: Apple, Google, Fundings & Exits, Facebook, Apps, Asia, Indonesia, Finance, China, Southeast Asia, Funding, Tech, Ceo, Philippines, Standard Chartered, Alibaba


JD.com’s billionaire founder Richard Liu won’t be charged in sexual misconduct case

Roughly four months after JD.com’s billionaire CEO Richard Liu was arrested and later released by Minneapolis police on suspicion of alleged sexual misconduct, local authorities say they will not be charging him in a sexual misconduct case. In a statement, Hennepin County Attorney Mike Freeman said it was not possible to prove beyond a reasonable doubt the charges brought against Liu. “As is the case in many sexual assault incidents, it was a complicated situation,” said Freeman in the rel...
Tags: TC, Minneapolis, China, Tech, JD.com, WSJ, Liu, Freeman, University of Minnesota, Mike Freeman, Richard Liu


JD.com Chief Richard Liu Will Not Be Charged With Sexual Assault

Prosecutors in Minnesota said they did not find enough evidence to pursue a case against the Chinese billionaire, who was accused of rape this year by a University of Minnesota student.
Tags: News, Minnesota, JD.com, Sex Crimes, Richard, Liu, University of Minnesota, Minn, High Net Worth Individuals, Richard Liu, Police Department (Minneapolis


How a Chinese anti-virus software maker builds a fintech firm to wrestle with giants

360 Finance, an online consumer loan platform that spun off from China’s anti-virus service giant 360 Group, has joined a raft of Chinese fintech companies to go public in the U.S. over the last two years. The company priced its initial public offering at $16.50 per share last Friday, raising $51 million by selling 3.1 million American depositary shares. The stock ended its first day unchanged when escalating trade tensions have threatened to beat down shares of U.S.-listed Chinese firms. 360...
Tags: Asia, Finance, China, Funding, Tech, Ceo, Alibaba, JD.com, Tencent, WeChat, Alibaba Group, Ant Financial, Baidu, Financial Services, Jack Ma, Oliver Wyman


A Chinese ecommerce app that lures grocery shoppers with cash just raised $100M in Series B

There is no shortage of up-and-comers jostling for a spot in China’s massive ecommerce industry, and oftentimes they pick a niche market and present a novel business model different from the establishment of Alibaba or JD.com . Chinese social ecommerce app Fresh Buddy announced on Tuesday that it has raised $100 million in a series B funding round led by Genesis Capital, a growth-stage fund founded by two former Tencent executives. SIG China, DCM Ventures and Vision Plus Capital also participa...
Tags: Ecommerce, Asia, China, Funding, US, Tech, Software, United States, Computing, Alibaba, JD.com, Tencent, WeChat, Alibaba Group, Nasdaq, Weibo


Walmart partners with Rakuten to open its first e-commerce store in Japan

Walmart is continuing its strategy of revamping its businesses in Asia after the U.S. retail giant opened its first e-commerce store in Japan, where it is working with local retail giant Rakuten. The companies first announced a collaboration in January when they agreed to team up on the launch of an online grocery service in Japan and the sale of e-readers, audiobooks and e-books from Rakuten-owned Kobo in the U.S. That e-grocery service — Rakuten Seiyu Netsuper — rolled out in October, an...
Tags: Amazon, Ecommerce, Asia, Japan, China, India, Marketing, Tech, Walmart, E-commerce, United States, Alibaba, JD.com, Trade, Financial Services, Rakuten