Kaixin Reveals User Numbers, Rising Profit
The Chinese social network Kaixin has announced its 2011 results - and despite a rough year that saw folks move towards using Weibo rather than its Facebook-like site, it was mostly good news. Guo Wei, the company’s VP, told the media that Kaixin saw its revenue rise 41 percent last year, rising to 380 million yuan (US$60.3 million).The site, also known as Kaixin001, puts great emphasis on social gaming, and hosts - as well as produces - a number of popular casual gaming titles. Mr. Guo revealed that the ...
DeNA Establishes Gaming Partnership with Chinese SNS Kaixin001
The folks over at Japanese social gaming giant DeNA (TYO:2432) just made their holidays a little bit happier by announcing a partnership with Chinese social network Kaixin001. In an effort to boost its Mobage gaming platform in China, DeNA is leveraging the 120 million registered users on the Kaixin network in the hopes that many will play Mobage games, and tell their friends as well.As a part of the cooperation between the two companies, Kaixin users will be able to access Mobage China with their own Kaixin logins. In addition, ...
Better Late Than Never, Kaixin Gets Its Own Stylish Photo-Sharing App
Oh, great… another photo-sharing app with lots of filters. We haven’t reviewed one of those for, like, 24 hours. Yes, Kaixin001, China’s second-largest Facebook-like social network, now has its own app for snapping and sharing grungy photos of the cappuccino you’re about to drink. Called TuTeng, it’s out now for Android, with an iPhone version already in the works.Kaixin’s TuTeng arrives very late to the funky party that was first started by Instagram (which is now weighing up a move into China). But unlike most of the other photo-sharing apps ...
It’s Official: Tencent Invests In Social Networking Site Kaixin001
There were rumors going around that Tencent (HKG:0700) had bought stake in Chinese social network Kaixin001 for $100 million. And now that's all official, after Reuters confirmed it earlier this evening. The investment details weren’t disclosed but it was reported that Kaixin001 will remain independent as it still holds the majority stake.“Kaixin001’s pursuit of user experience and its open attitude makes it a good fit with us. This investment is Tencent’s implementation and upgrade of its open platform strategy,” said Tencent’s President Martin Lau in a statement.The deal should have been ...
5 of the Best Chinese Photo-Sharing Apps
Photo-sharing apps and smartphones go together like the proverbial horse and carriage. So in China it’s no surprise that dozens of start-ups have gone the route of forming a light community based on a neat photo app.Before dismissing them as Instagram clones, remember the limitations of Instagram: it’s for iPhone only; has no browsable photos on the desktop, meaning its website is functionally useless; and it supports only four American social networks. Plus, Instagram moves so slowly that it might take years before it deigns to support other mobile platforms ...
It’s a Deal! FTuan Snags $60 Million in Funding, Kaixin Partnership
Chinese group buy site FTuan has confirmed, by way of its CEO, Lin Ning, that it has secured US$60 million in third-round funding. With 2,000 employees, Mr Lin states that FTuan has the cash to be sustainable for two or three years. Plus, the company has one more round of financing in the pipeline.It has also been revealed that FTuan is powering the new Kaixin Tuan deals site that we looked at recently. It’s a partnership that sees FTuan effectively operating the Kaixin Tuan platform (pictured below), as well as ...
Is Renren Behind a Kaixin-Badged Group Buy Clone?
The long drawn-out battle between Renren (NYSE:RENN) and Kaixin over the “Kaixin” brand-name looks like it might have moved to the highly-competitive world of Chinese group buy sites.Kaixin’s daily deals site - news of which we covered yesterday, as it opened the platform to partners - has a clone called KaixinTuan. Compare the official Kaixin deals site here, with the counterfeit one here.For the background history, we need to think of “Kaixin” the social network as Kaixin001, which is the URL it owns. Renren - backed by Oak Pacific Interactive ...
Kaixin Opens Up its Group Buy Site, Looks for Partners
Kaixin, the Chinese social network, is opening up its fairly new group buy site, Kaixin Tuan Gou - take a look here - to partners, making it an open platform.Today’s move seems to be about consolidation and partnership, to prevent some of the costly overlapping of efforts - such as signing-up merchants, and crafting new daily deals - that plague the fragmented Chinese group shopping market. There are estimated to be about 5,000 such sites in mainland China now, absolutely none of which are making any money.Kaixin opened its group ...
As Social Network Kaixin Loses 65% of Traffic, How Did it Lose its Groove?
The web traffic stats site Alexa reveals that China’s former top social networking site Kaixin001.com has lost 65 percent of its traffic in the past 12 months (see the graph above).In another blow to Kaixin, a gauge of Chinese netizens interest in the site measured by Baidu Index, has hit the rocks. Today’s ‘user interest level’ for the Kaixin site is rated at 1,500 (see the graph below), which is its lowest ebb since March 2009, before the social network really took off.The Alexa and Baidu Index measures point to ...
China’s 360buy.com is Valued at $10 Billion
In an report published today by The Moscow Times, Alisher Usmanov of Russian internet investment firm DST is said to have revealed that their March investment of $500 million in 360buy.com was for a five percent stake.That suggests that DST perceives the value of the Chinese online retailer as being $10 billion, as Chinese media websites have been reporting.DST has invested in well known internet companies like Facebook and Zynga, and its investment in 360buy is just a part of a much larger trend of money pouring towards Chinese online ...
China’s Social Network, Kaixin Gearing Up for U.S. IPO
According to The Wall Street Journal, Chinese social networking giant Kaixin001.net is planning a U.S. initial public offering, and has brought on underwriters JP Morgan and Citigroup as The Financial Times reported last month. The WSJ report cites 'people familiar with the situation' as its source.Launched back in 2008, Kaixin is very much like a Chinese version of Facebook, with 'friending,' status updates, games, and photo posting features. For a quick walk-though of the interface, jump to the bottom for a screencast I made of Kaixin a few months after ...
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