The team has been hard at work this week collecting all the top stories in China, so let’s take a look.
1. Report: More Layoffs at Renren, Signs of a Strategic Shift?
China’s Facebook, Renren, just might be looking at some serious changes to its internet strategy. Charlie speculates that this might be a shift into games and mobile apps.
2. China’s MadeiraCloud Gets $1.5 Million Funding, Opens US Office
Congrats to MadeiraCloud for another round of funding!
3. Alibaba Explores Online Mapping, Takes Stake in Autonavi For $294 Million
There’s rumors of Facebook acquiring Waze back in the Valley but Alibaba has already stepped up to the plate with the acquisition of Autonavi.
4. WeChat Now Has 190 Million Active Users, Close to Passing Whatsapp
Watch out WhatsApp, WeChat is after your spotlight. This chat app battle is happening on so many fronts it’s hard to keep up. There are so many battlefields here in Asia and across the world.
5. Umeng Dominates Chinese Mobile App Analytics, Plots Overseas Expansion
Thus continues the trend of Chinese internet companies increasingly looking global.
6. China’s Top 3 Most Profitable Web Companies
TL;DR: The top three are Baidu, Alibaba, and Tencent. They basically rule over the Chinese internet, but it’s telling to know what business models work in Vietnam.
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