Speaking at Silicon Dragon’s recent VC and tech forum in San Francisco, venture capitalist Chris Evdemon of Sinovation Ventures commented that China does not need Facebook because it already has better sites with more functionality for Chinese users. Of course, one of these is Tencent’s social messaging app WeChat. But it’s also Alibaba-owned UC Web, which is looking to outwit Google and Facebook in Asia.
It’s well understood that Chinese investments in America will be an increasingly important area of focus. What is lesser known is the ones that don’t work out. This post from the Paulson Institute outlines two attempted Chinese acquisitions of U.S. commercial aviation firms – one that failed and one that succeeded.
It’s an interesting read to see what went wrong and right with the transactions. As for wrong, a lack of understanding of the industry by the Chinese acquirer, amateurish negotiations, and a shoddy partnership between a Chinese state entity and a private player. As for right, a more seasoned state-owned enterprise more familiar with mergers and acquisitions. Read more here: Paulson Institute.
Why China has an edge in artificial intelligence: its large talent pool and size of its online population are only two of many factors, writes Kai-Fu Lee, CEO of Sinovation Ventures.
Hugo Barra is leaving Xiaomi after his high-profile hire two years ago from Google and going back to Silicon Valley. Just a matter of timing and burn-out or a sentence for Xiaomi?
In China, the number of people who go online through cellphones has reached 695 million, according to the government-linked China Internet Network Information Center. Mobile phones are where it’s at as Chinese have passed right over the PC era. In another mind-blowing statistic, the number of Internet users in China – already the world’s largest — has soared to 731 million users.
Li Ka-Shing’s tech-focused VC firm Horizons Ventures has invested $23 million in a Series A financing of an innovative auto manufacturing technology startup in Los Angeles. The startup, Divergent 3D, relies on a flexible and customizable 3D printing platform to churn out cars with reduced materials, energy and cost. Peugeot has recently signed on a strategic development partner.
CEO Kevin Czinger told Silicon Dragon that his startup evolved from a failed attempt in China a few years ago where he lost control of strategic direction of the company to venture investors. He’s brought his former team with him to Divergent 3D.hinese bike-sharing startup Mobike snags strategic investment from Foxconn, just weeks after pulling in $250 million in a Series D funding. Bike-sharing apps have replaced car-hailing apps as the newest (yet oldest) new thing in China.