The Star — SEOUL: Kakao Corp, the operator of South Korea’s largest mobile messaging app, said Tencent Holdings Ltd and eBay Inc have joined its bid for a new South Korean Internet bank license. Tencent and eBay will make their investments through subsidiaries, which are expected to take stakes of 4% or less in the bank should a license be gained, a Kakao spokesman said. He declined to comment on financial terms.
Business Insider — Some of the most powerful tech leaders got together in Seattle to greet Chinese President Xi Jinping on his visit to the US Wednesday. And based on the group photo tweeted out by Seattle Times reporter Matt Day, it was a star-studded event:
CKGSB — Jack Ma’s mix of charm, drive and self-deprecation was on display as he addressed the Economic Club of New York in the Grand Ballroom of the Waldorf Astoria in early June. As club members tucked into a lunch of herb-stuffed chicken breast, mushroom risotto and baby zucchini, the Alibaba founder and Executive Chairman breezed through topics that ranged from his days as an English teacher back in 1988 in Hangzhou to the future of his e-commerce powerhouse.
YIBADA — For the second time, Tencent was named the most valuable Chinese brand of the year, according to the Hurun Research Institute. The Shenzhen-based Internet giant, which operates the popular instant message service WeChat, posted a brand value jump of 33 percent, which is equivalent to 277 billion yuan, Hurun stated in a press release issued on Thursday.
Channel News Asia — BEIJING: Chinese Internet company Tencent Holdings has said that it will invest more than US$1.5 billion over the next five years in its cloud-computing business. This will include construction and operation of data centres in China, Hong Kong and North America, and also to recruit new talent and promote cloud services through marketing campaigns.
Business Insider — So which is the largest internet company in Asia? If you think the answer is Alibaba, do note, it was and it no more is. Achieving the numero uno position is Tencent Holdings, a Chinese investment holding company. Alibaba’s shares have slumped 4.7 % to $60.91 in New York earlier this week, making the online marketplace worth $153 billion. That’s below Tencent’s value for the first time since billionaire Jack Ma oversaw Alibaba’s record-breaking initial public offering in September 2014.
Bloomberg — Alibaba Group Holding Ltd. surrendered the title of Asia’s largest Internet company to Tencent Holdings Ltd., capping a 10-month slide for the e-commerce giant that wiped $140.7 billion from its market value. Shares of Alibaba fell 4.7 percent to $60.91 in New York on Tuesday, making the online marketplace worth $153 billion. That’s below Tencent’s value for the first time since billionaire Jack Ma oversaw Alibaba’s record-breaking initial public offering in September 2014.
Want China Times — Chinese tech giant Tencent has unveiled its first smart hardware product, Weibao. The robotic ball is controlled by a smartphone app and can interact with users through games, reports Tencent’s tech news web portal. Weighing 180 grams, Weibao is in the shape of a ball 7.35cm in diameter.
Want China Times — WeBank, China’s first internet-based bank, has released an app which allows users to open a bank account with their existing WeChat or QQ accounts, reports the Shanghai-based Xinmin Evening News. After choosing one of the accounts, the bank registration process is fairly similar to any other bank account, requiring a name, ID card number, smartphone number, password and swipe lock pattern.
Microsoft launched its intelligent personal assistant “XiaoIce” on Tencent’s WeChat Thursday with plans for business use to compete with rivals like Apple’s Siri and Google Now. XiaoIce, a virtual personal assistant that Microsoft says was developed by its Beijing research team is accessible on Tencent’s instant messenger WeChat as Microsoft expands its offerings on mobile internet platforms.
Want China Times — Since early this year, China has been pursuing an “Internet Plus” action plan focusing especially on cloud computing. Early this year, the State Council unveiled an opinion about promoting cloud computing, expecting China to have built up several internationally competitive cloud computing enterprises that have controlled key cloud computing technologies by 2020, China Economic Net reports.
Digi Times — China Mobile will launch own-brand smart wireless routers in the China market, with the device positioned as the center of home-use IoT applications for security surveillance, environmental monitoring, automatic control of appliances and healthcare services in the future, according to industry sources. China Mobile will soon hold an open-bid to select the ODM to produce 10,000 units, the sources said.
Want China Times — China’s internet TV craze has just attracted another convert with the debut of Whaley TV on Aug. 13. “Whaley TV envisions becoming a platform for promoting Chinese culture” said Li Ruigang, founder and chair of Whaley Technology, which runs the new internet TV division, according to Tencent’s tech news web portal.
Shanghai Daily — TENCENT said yesterday that its second-quarter net profit rose 25 percent year on year to 7.31 billion yuan (US$1.1 billion) on strong income growth in the online gaming and advertising sectors. Revenue in the April-June period increased 19 percent from last year to 23.4 billion yuan, the company said in a stock market filing. Revenue from online advertising in the quarter surged 97 percent to 4.1 billion yuan, driven by a steep increase in subscribers to the company’s online video services, and a spike in revenue from mobile-based advertising.
China Tech News — China-based Tencent led the USD90 million investment in Practo, a health and medical information provider in India. On the completion of the investments, Practo’s total financing amount will reportedly reach USD124 million and its investors include Google Capital, Sofina, Sequoia Capital, Altimeter Capital, Matrix Partners, and Russian billionaire Yuri Milner.
Want China Times — E-commerce giant Alibaba and internet goliath Tencent have become China’s top two cloud computing service providers but have adopted different approaches to control the field while competing with each other, according to the Beijing-based Economic Observer. The two companies have established dominance in different areas after over a decade in business–Alibaba in e-commerce, logistics and health services and Tencent in games and social networking.
Want China Times — Privately owned Chinese banks will need to use big data if they hope to compete with rivals backed by internet companies in the growingly important online market, according to an executive at business software company SAS. These private banks rely mainly on an “asset-light” business model with fewer brick-and-mortar outlets and a relatively strong focus on online operations, said Irene Xu, practice lead for customer intelligence at SAS North Asia, in an interview with China Entrepreneur.
Want China Times — On July 12, Tencent, a leading Chinese Internet firm, and Shenzhen Huaqiang Holdings, a major hi-tech firm, unveiled a joint 10 billion yuan (US$1.61 billion) plan for fostering hardware startups, with the aim of creating 100 hardware firms with valuation of over 100 million yuan (US$16.1 million) each in three years, according to the Economic Observer.