Video Site Operator Mango Plans to Raise $660 Million to Expand Content Library

 /  Money  / 
Mango Excellent Media Co. Ltd., the operator of Chinese online video platform Mango TV, said Monday that it plans to raise 4.5 billion yuan ($660 million) through a share sale that will enable it to expand its content library and establish new technological platforms amid intensifying competition with rivals iQiyi, Youku and Tencent Video. Read More

TikTok Unveils $200 Million Fund to Help U.S.-Based Users Make Money Amid Ban Threat

 /  Money  / 
TikTok has announced the launch of a $200 million fund to encourage U.S.-based “influencers” to create more content, even as the Trump administration threatens a ban. Read More

Sequoia China Leads Nearly $100m Round in Storytelling App Kuaidian

 /  Money  / 
Kuaidian, a Chinese storytelling mobile app that offers an immersive experience through dialogue-based, text-message reading format, has closed nearly $100 million in a Series C round of financing led by Sequoia Capital China. Read More

Stock Exchange Challenges Theater Giant Wanda Film’s Huge Write-Down

 /  Money  / 
Wanda Film Holding, China’s biggest movie theater operator controlled by billionaire Wang Jianlin, was questioned again by the stock exchange on its asset impairment and liquidity after it posted its first annual loss in five years as a publicly listed company. Read More

Sony Takes $400 Million Stake in Chinese Streaming Site Bilibili

 /  Money  / 
Chinese video streaming platform Bilibili received a $400 million equity investment from Sony Corp.  Read More

ByteDance Eroding Ad Revenue Share from BAT: report

 /  Money  / 
Bytedance, creator of viral short video apps Douyin and TikTok as well as news aggregation app Toutiao, is continuing to take ad revenue share from China’s top tech firms Baidu, Alibaba, and Tencent. Read More

Cinema Operators Left in Dark Amid Coronavirus Containment Efforts

 /  Money  / 
Cinema operators were already going through their own growing pains even before the broader film industry’s latest difficulties, after a building boom led to oversupply of screening venues. Read More

Video Firm Baofeng Loses Nearly All Employees in Wake of Flopped British Deal

 /  Money  / 
Almost all staff have left troubled online video service provider Baofeng Group Co. Ltd., which has been haunted by operational and financial challenges as it struggles to manage fallout from its involvement in a high-profile and ill-fated acquisition of British firm MP & Silva Holding SA. Read More

Headlines from China: Wanda Sports to Launch US IPO This Week

 /  Headlines From China  / 
The Beijing-based Wanda Sports has had partnerships with FIFA and the Chinese Basketball Association, owns sports properties and generates revenue from events, sponsorship and media pacts Read More