Chinese travel experience sharing platform Mafengwo has been under the spotlight lately due to fake review allegations. The story was first posted on an independent WeChat account only to be denied by Mafengwo a few days later, leaving the truth unclear.
MissFresh, a fresh produce e-commerce platform, announced the completion of their Series D fundraising on September 6. The $450 million round is lead by Goldman Sachs Investment Partners (GSIP) and Tencent Holdings Ltd., followed by Tiger Global Management and four new investors.
JD.com Inc, China’s second largest e-commerce platform, reported a 31.2 percent rise in its second-quarter revenue on Thursday, falling short of analysts’ estimates after a worse-than-expected sale season.
China’s social commerce group discount platform Pinduoduo had its debut on the Nasdaq at 7 p.m. July 26 (Beijing time), and ended its first trading day with a stock price of $26.70, valuing the company at $29.6 billion.
JD Finance announced on July 12 the details of their upcoming Series B fundraising round. The financial spin-off of the e-commerce platform JD.com Inc. will raise 13 billion yuan ($1.95 billion) at a post-money valuation of 133 billion yuan by the end of this quarter.
On June 18, JD.com concluded its annual shopping festival with a transaction volume of around US$24.5 billion. On the same day, the e-commerce platform also announced an investment from Google of $550 million. What does this new alliance mean? Listen to latest episode from TechBuzz China to find out!
Alibaba Group announced today that it will invest another $2 billion in Lazada Group in an effort to accelerate its growth and deepen its integration with the Alibaba ecosystem. Lazada is the largest e-commerce platform in Southeast Asia.