Lashou.com, one of several Groupon copycats in China, has secured US$110 million in additional funding, bringing its total valuation to US$1.1 billion, the Financial Times reported, quoting an announcement by the company. Fierce competition in the Chinese group-buying market has kept Lashou’s gross profit margin at 20-30%, far below the 50% margin recorded by Groupon.com, […]
Category: Tech, Media & Telecom
Chinese telecom equipment manufacturer ZTE Corporation (000063.SHE) has filed lawsuit for copyright violation against a unit of Swedish rival Ericsson (ERIC.NASDAQ, ERICB.OMX), the Wall Street Journal reported, quoting Wang Haibo, director of intellectual property at ZTE. The suit, which alleges Ericsson products violated up to 10 ZTE patents for core networks, global mobile communications systems […]
Is Lashou worth $1.1b? Why do people keep investing in group buying websites?
China’s General Bureau of Radio, Film and Television, on why it decided to ban time travel-themed TV and movies: “The producers and writers are treating the serious history in a frivolous way, which should by no means be encouraged anymore.” Source: Forbes
Two Chinese nationals have been charged by a US grand jury with trying to obtain microchips that are prohibited from export, Bloomberg reported. The products in question, radiation-hardened microchips, are used in the military and aerospace industries. Hong Weixian, also known as Harry Zan, 32, and Li Li, also known as Lea Li, 33, stand […]