China E-Commerce
Tencent Acquires Struggling E-Commerce Rival
The struggling gadget e-commerce retailer 500City has been acquired by China's biggest web company Tencent. The acquisition has been confirmed by 500City executives but detailed terms of the deal haven't been published yet. It is expected that the acquisition should boost Tencent's 51Buy which sells only gadgets by merging the two sites into one.
Source: Tech in Asia
China E-Commerce
Haier Group offers to acquire Fisher & Paykel
The Chinese multinational consumer electronics company Haier Group offered to acquire Fisher & Paykel, a major appliance manufacturing company based in New Zealand. The offer includes a purchase price per share of $ 0.99. The offer ends on November 6th. Fisher & Paykel's Chairman of the Board said this purchase price is not according to the actual value of the company. The price should be between $ 1.05 and $ 1.29. The independent directors of Fisher & Paykel recommended to the sharesholders to accept the offer of Haier.
Source: Linkshop
China Digital
New O2O Startup For Home-Movers
As the offline-to-online (O2O) trend is progressing in China, a new Beijing-based startup called iBanke has just launched their service for an open beta phase. People who want to move can take photos of their items, send them to iBanke and the startup will take care of finding a suitable moving service and will respond with a quotation to the user. Therefore the platform acts as a connector between people and moving services.
Source: Tech in Asia