Pandaily's Digest #20220815
Sequoia China on August 15 announced the establishment of a new startup accelerator program called YUÈ.
Sequoia China Establishes Startup Accelerator Program YUÈ
Sequoia China on August 15 announced the establishment of a new startup accelerator program called YUÈ, which provides exclusive systematic entrepreneurship courses and resources for Chinese entrepreneurs from angel-round to A-round financing.
YUÈ is positioned as “the first lesson for Chinese entrepreneurs.” As an accelerator for cultivating entrepreneurs who started their own business at an early stage, this project hopes to help systematically cultivate their basic entrepreneurial abilities and business awareness in this stage with the highest failure rate, thus improving the success rate of early entrepreneurship.
BYD Builds First Zero-Carbon HQs Among Chinese Auto Firms
Shenzhen-based automotive firm BYD announced on August 11 that its Pingshan headquarters campus has reduced the equivalent of 245,681.89 tons of carbon dioxide, successfully creating the first zero-carbon campus headquarters for a Chinese automotive brand.
Virtual Real Estate Platforms See Prices Plunge
The bear market effect of Bitcoin is being transmitted to various other fields. According to data from research institute WeMeta, the average price of virtual land on six platforms based on Ethereum dropped from about $17,000 apiece in January this year to about $2,500 apiece in August, a decrease of 85%.
Musk Congratulates Shanghai Gigafactory’s Production of 1M Vehicles
Tesla's Shanghai Gigafactory saw its one millionth production vehicle roll off the production line. Elon Musk, CEO of the US electric vehicle giant, shared the milestone on Twitter on August 15.
Tesla Model Y in China Suspected of Losing Control and Hitting Wall
After a car accident involving Taiwanese singer and racecar driver Jimmy Lin, another Tesla vehicle has crashed in mainland China. Recently, a Tesla Model Y owner suddenly lost control of the vehicle and hit a wall.
Xiaomi CEO Lei Jun: Over 140 Autonomous Driving Test Cars to Be Launched Soon
August 11 is the 12th anniversary of Xiaomi. To mark the occasion, Lei Jun, Chairman, CEO and founder of Xiaomi, presented his 2022 annual speech, recalling his personal entrepreneurial process and introducing new products including a new generation of foldable smartphones, wireless headphones, a washing machine product and a humanoid robot.
Tim Hortons China Edges Closer to US Listing
Canadian coffee chain Tim Hortons has recently made further progress in plans to list its Chinese business division in the US. Silver Crest, a special purpose acquisition company (SPAC), will hold a general meeting regarding the matter on August 18. After gaining approval in the general meeting, Silver Crest and Tim Hortons China plan to merge and list shares.
ByteDance-Linked Jinqiu Venture Capital Completes First Investment
Jet Commerce, a Jakarta-based one-stop e-commerce services provider, announced on August 10 its completion of round-B financing exceeding $60 million. The round was jointly led by Jinqiu Venture Capital, Hidden Hill Capital and Zhejiang SilkRoad Fund, followed by Hui Capital and ATM Capital. It is worth noting that Jinqiu Venture Capital has a strong relationship with TikTok’s parent company, ByteDance.
Crypto Exchange Huobi Denies Founder’s Stake Transfer Plan
Leon Li, the founder of cryptocurrency exchange Huobi, is seeking to sell a 60% stake in the company that would value the business at $3 billion, according to a Bloomberg report on August 12, citing people familiar with the matter. However, the report was denied by the platform, which claimed that “no plan has been made on the share transfer of major shareholders and Huobi continues to run healthily as always.”
Huawei Mate 50 Pro Smartphone Rear Camera Design Leaked
Shenzhen-based tech giant Huawei launched HarmonyOS 3 in late July, and it will start scale upgrades in September. It was previously revealed that the new Huawei Mate 50 series of smartphones is expected to be released on September 7, including the Mate 50e, Mate 50, Mate 50 Pro and Mate 50 RS.
