Chinese online travel service provider eLong Inc. reported its unaudited financial results for the first quarter ended March 31, 2011, and said Tencent made a strategic investment in the company. Chinese online gaming and instant messaging firm Tencent Holding Limited yesterday made a strategic investment in eLong, acquiring approximately 11 million newly-issued shares for USD84 [...]
Internet travel services company Ctrip.com International Ltd. announced its unaudited financial results for the quarter ended March 31, 2011, and stated that revenues rose. For the first quarter of 2011, Ctrip reported total revenues of CNY814 million, representing a 30% increase from the same period in 2010. Total revenues for the first quarter of 2011 [...]
Chinese online and wireless media company Sina Corporation says its profit fell on higher costs as it announced its unaudited financial results for the first quarter ended March 31, 2011. For the first quarter of 2011, Sina reported net revenues of USD100.2 million, compared to USD85.0 million for the same period last year. Of that [...]
The Russian innovation company i-Free has announced in Beijing that it will launch its top mobile phone applications products in the mainland China market. These products include PowerAMP Music Player, a non-game application; some casual games produced by Alawar Entertainment, an international publisher and distributor of casual games; Smartive, i-Free self-developed mobile software which help [...]
Chinese B2B e-commerce group Alibaba has completed its acquisition of the traffic statistics service provider CNZZ, marking a crucial step for the group's layout within the e-commerce industry chain. Early in February 2011, there was rumor on the Internet saying that Alibaba planned to invest USD15 million to acquire CNZZ, a Chinese traffic statistics service [...]
Li Guoqing, joint president of the Chinese Internet shopping website Dangdang.com, has announced that the company will stop putting advertisements on search engine Baidu.com from April 2011 due to the recent accusation that Baidu.com is involved in literature and music piracy. Over 50 Chinese writers and publishers claimed around March 15, the World Consumer Rights [...]
Chinese Internet company Tencent has published its annual financial report for 2010, stating that its net profit increased by 56.2% year-on-year to CNY8.054 billion. Tencent said that due to the good performances of its three major business sectors — Internet value-added services; mobile and telecom value-added services; and Internet advertising — the company achieved operating [...]
Chinese lifestyle information website Ganji.com has launched a new collective buying product, which will first cooperate with Womai.com owned by COFCO Group in providing group buying deals in Beijing. Ganji.com has reportedly contacted almost 100 vendors for initial cooperation, including many business-to-consumer websites and Golden Harvest Cinema. The products of Ganji.com's group buying will cover [...]
Qi Xiangdong, president of Qihoo 360, revealed during a local media interview that China's Ministry of Industry and Information Technology and Ministry of Public Security have interfered in the dispute between his company and Tencent. The Chinese Internet media and e-commerce firm Tencent previously announced that it will shut down its instant messaging service QQ [...]
China's top online travel website Ctrip.com International Ltd. today announced its unaudited financial results for the third quarter ended September 30, 2010, and stated total revenues of CNY863 million, representing a 48% increase from the same period in 2009 and a 16% increase from the previous quarter. "The 2010 Shanghai World Expo has boosted travel [...]
