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China BizTech News Weekly Digest – April 10, 2014


By Su-Jun Lim

REUTERS

Alibaba Invests $692 Million In Chinese Department Store Operator
Alibaba Group Holding Ltd invests $692 million in Hong Kong-listed department-store operator, Intime Retail (Group) Co Ltd. to target high-end consumers, and fuse offline and online shopping. Alibaba is poised for the highly anticipated initial public offering in New York, biggest since Facebook Inc. (FB).

JING DAILY

China Counterfeit Report: Do ‘Factory Extras’ Really Exist?
Counterfeit products have always posed a threat for China’s luxury market. High quality fake goods sold as “factory extras” are almost non-existent and likely just “fake”, according to a report from Chinese media portal Sina.

BLOOMBERG

Lyft Becomes Alibaba’s Latest Bet on Silicon Valley
Alibaba Group Holding pours $250 million into Lyft, the pink-mustachioed ride-share car service that is growing in popularity, joining the investment firm Third Point in the latest round of Lyft’s fundraising. This came after a series of other purchases by Alibaba, like the $280 million investment in TangoMe, $206 million in ShopRunner, and $50 million in Quixey, presumably to build its US presence before its US IPO.

THE GUARDIAN

House of Fraser: Chinese tycoon in talks over department store purchase
It is official; Sanpower Group led by China tycoon, Yuan Yafei closed the deal with British department store, House of Fraser, as of last Friday. The 165-year-old British retailer is valued at more than £450m.

FORBES

The Next WhatsApp?
Following the $19 billion purchase of WhatsApp by Facebook, a number of social networking apps like WeChat, Momo, Meitu XiuXi and Chang Ba, that are already popular in Asia also receive extra attention. Could they be the next blockbuster?

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