After a record-setting 2018 that saw Chinese VCs ladle out cash to startups at mind-boggling valuations, current numbers spooked global investors, some of whom regard the diminished numbers as a sign of an imminent industry debacle.
Luckin Coffee released their third quarter 2019 earnings report indicating a 540.2% year-on-year revenue growth with 1.5 billion yuan.
Hurun Research Institute released “Hurun Greater China Unicorn Index 2019 Q1” and “Hurun China Future Unicorns 2019 Q1” on May 7, 2019. This is the sixth release of the Unicorn Index and the first release of Future Unicorns.
LinkSure Literature, a Chinese online novel reading platform, announces its daily active users (DAU) have exceeded 10 million on Apr. 24, making the almost two-year-old startup a leader in the free reading revolution.
Alibaba Group, the largest e-commerce platform in China, has announced on Sept. 10 that chief executive officer Daniel Zhang will succeed Jack Ma as chairman of the board, effective one year from now.
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.
What do you call a unicorn worth more than $100 billion? A centacorn, of course! This week on TechBuzz China by Pandaily, co-hosts Ying-Ying Lu and Rui Ma discuss a newly minted centacorn - Ant Financial.
TechBuzz China is a new weekly technology podcast powered by Pandaily hosted by Rui Ma and Ying-Ying Lu. To listen to this week's conversation on Toutiao's Apology and Mobike's Acquisition by Meituan-Dianping, you can tune in to TechBuzz China on iTunes Podcast, SoundCloud, or simply search for TechBuzz China in the podcast app of your choice.
As of March 2018, there are 126 unicorn companies in China across 15 industries and 10 cities, with a total valuation of $625.3 billion, or about four trillion yuan.
After a chilling 2016, the capital markets became more rational in 2017. The overall trend remains unclear, but investors seem willing to back projects that show clear rewards. This has led to broad heavy investment, creating more unicorns than previous years.
On January 31, the China Internet Network Information Center (CNNIC) released the 41st statistical report of China Internet network development in Beijing. As of December 2017, China's Internet population reached 772 million, with a penetration rate of 55.8 percent.
PitchBook, a global data research institution based in the Silicon Valley, names its Unicorn Class of 2017. In 2017, 57 start-ups were valued at more than $1 billion, and their total value was as high as $116 billion. Eighteen Chinese enterprises were on the list, and 10 were among the top 20.