This past week saw big news for Inmobi in China, ups and downs for Lashou.com, new user stats for both Sina and Tencent Weibo, a major new purchase by Baidu, and huge amounts of cash being spent on Chinese e-commerce sites.
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1. InMobi Is Setting Up an Office in China, Hiring
We learned from a source at Indian company InMobi that it’s setting up an office in China and is hiring pretty rapidly. Wow.
2. Daily Deals Site Lashou All Set to Hit NASDAQ as LASO, Raise US$80 Million
Lashou, one of China’s largest group-buy sites, is now on the verge of its US IPO, having filed with American regulators. The Beijing-based company, which started-up in 2009, will hit NASDAQ stickers soon with the symbol LASO.
3. Rumors Lashou Canceling IPO, and Our Sources Suggest…
But… In the middle of Lashou’s IPO road-show, a rumor is spreading that its IPO is cancelled due to regulatory issues.
4. Tencent Weibo Breaks 300 Million Users, But How Many Are Real?
Tencent (HKG:0700) announced its unaudited Q3 financials today, and just like Sina’s (NASDAQ:SINA) – which claimed 250 million Sina Weibo users – those announcements were paired with some pretty impressive statistics.
5. HTC Unveils an Android “Renren Phone” for China
HTC (TPE:2498) this past week unveiled a so-called ‘Renren phone’ – an Android-powered smartphone with baked-in widgets and features crafted especially for Renren.com (NYSE:RENN), China’s largest Facebook-like social network.
6. Baidu Confirms Acquisition of Instagram-like Start-up PhotoWonder
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