10 Must-Read Tech Stories in China This Week

This was a pretty eventful week in the technology world in China, as we saw some interesting developments surrounding big players Baidu and Alibaba, as well as some fresh funds for Innovation Works. Oh, and Apple’s disastrous maps. This week also included the day the music died for Google. So in case you missed any of it, here are the notable tech headlines from this week in China:

1. Alibaba Hands Over $7.6 Billion to Yahoo For Share Buyback, Financing Values It at $40 Billion

You know how painful it is to make a huge payment that seems to empty your pockets and your bank balance? Perhaps that’s how the folks at Alibaba felt this week.

2. Baidu’s Digital Patriotism Looks Like Corporate Suicide for Overseas Expansion Plans

Amid widespread anti-Japan protests in China that occasionally turned violent, Baidu thought it was wise to publicly choose sides, and planted a virtual flag on the disputed Diaoyu/Senkaku homepage on its homepage doodle. While Baidu has beaten Google in search market share, in my view it can’t come close in moral capital.

3. Panasonic: Violent Anti-Japan Protests Saw 3 China Plants Damaged, 2 Still Shut

Need further elaboration on story number 2? Here you go.

4. The Story Behind Renren, China’s Facebook-ish Social Network

Here’s an interesting overview of how one of China’s biggest social networks, Renren, got started. We spoke to co-founder Zany Zeng about how it all began.

5. Han Han vs. Baidu Legal Battle Settled: Baidu to Pay Peanuts, Wenku Stays Open

China’s most famous blogger, Han Han, has come away with a small victory in a copyright dispute with Baidu.

6. Innovation Works Adds $224 Million To Its Second Fund

Following Innovation Works’ recent $148 million second fund (aka ‘Fund II’), Kai-Fu Lee’s incubator has added another $224 million to its investment war chest.