Welcome! Thursday - Jun 22, 2017

Alibaba’s KTplay and Momo, WeChat Pairs With Foodpanda


China Ecommerce Weekly Breif-Obserevre Intelligence

Editing by Su Jun Lim

 

Alibaba Makes Another Push Into Games With Social Gaming Platform

BY TECH IN ASIA

Alibaba has teamed up with Yodo1 to create KTplay, a new social gaming platform currently running only in China. Henry Fong, the founder and CEO of Yodo1, says that KTplay will expand globally in three phases.

 

Alibaba-Backed Chinese Chat App Momo Surges in U.S. Debut

BY BLOOMBERG

Momo surged 26 percent on its first day of trading in New York after raising $216 million. Other investors in Momo include Matrix Partners China, Yunfeng Capital and Sequoia Capital. Momo generates its sales through membership subscription fees, and had 60.2 million monthly active users at the end of September. It is seeking to attract more of China’s half-billion mobile Internet users.

 

Mobile Spending Picks Up Speed in China

BY THE CHINA POST

Payments via mobile phones accounted for 54 percent of all transactions conducted over Alipay in the first 10 months of the year. The same figure last year was 22 percent. Mobile shopping is growing especially in inland regions in the western part of the country.

 

WeChat Now Supports Food Delivery Service Foodpanda in Southeast Asia

BY TECH NODE

Online food delivery service Foodpanda is launching a partnership with WeChat across Southeast Asia for WeChat users to browse nearby restaurants, receive exclusive promotions and order food. Foodpanda is backed by German-based Rocket Internet and has raised over US$100 million in funding since its establishment in 2012.

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