French hypermarket chain Carrefour SA opened its first smart retail store on Sunday [20 May 2018] in Shanghai, featuring technologies ranging from facial recognition payment to personalized mobile advertisements backed by internet giant Tencent Holdings Ltd. Named Le Marche, the 4,000-square-meter shop marked the first step the partners have taken to rejuvenate conventional retail with
Chinese tech heavyweights Tencent Holdings Ltd and JD said on Monday [18 December 2017] that they will jointly invest $863 million in cash in Chinese online discount retailer Vipshop Holdings Ltd. Tencent and JD will purchase the newly issued Class A ordinary shares of Vipshop for $604 million and $259 million respectively. The purchase price
Tencent Holdings has agreed to purchase a stake in one of China’s largest supermarket chains, Yonghui Superstores, in the latest move to step up the war with Alibaba Group Holding in the “new retail” battleground of online-offline shopping…Full Article: South China Morning Post Dec 2017 Key Points As of December 2017, YH Super Species (est.
Wang Xing, CEO of Meituan-Dianping – a Chinese online platform for ordering food and booking movies and restaurants – has denied media reports about an upcoming IPO in the U.S. Reuters reported on Tuesday [7 November 2017] that the company may hold an IPO in the U.S. as soon as next year to raise at
Meituan-Dianping, China’s largest on-demand services provider said on Thursday [19 October 2017] it has raised $4 billion in its latest financing round that values the company at $30 billion. The round was led by Tencent Holdings Ltd, and includes new investor the Priceline Group and other key investors including Sequoia Capital, GIC of Singapore, Canada
WeChat lets users text friends, post selfies and pay a gas bill with a smartphone. From Thursday [8 December 2016], the blockbuster Chinese app, known as Weixin Pay in China, has also been used to buy a Java Chip Frappuccino. Starbucks Corp said on Thursday it will accept the payments system at about 2,500 of
Last December, an online auction of an island in the Maldives on Chinese e-commerce platform Taobao.com hit the headlines. Surprisingly for such a big deal, the agency that handled all the business transactions was a startup company in Chongqing. In April, 2015, the internet company Chongqing Meicun Technology Co Ltd launched jutubao.com, a website that