Aug 24 – Chinaccelerator Daily Digest: Five Headlines You Need to Know
- WATCH: JD.com’s shares soared as much as 10.5% after it reported 26% rise in Q2 revenue that beat analyst estimates, defying a crackdown on the Chinese internet sector. JD executives said the banning of merchant exclusivity arrangements — the so-called “pick one of two” practice once endemic throughout the sector — has coincided with the return to JD of brands such as Starbucks. Bloomberg, 3-min video. Bloomberg, 3-min video
- Tencent-backed comics app Kuaikan turns unicorn in US$240 million funding round, largest fundraising deal in China’s comics industry. SCMP
- Xiaomi expands into smart transportation and smart cities by backing AIpark, an AI smart parking and big data operation platform. AIpark raised 4 rounds of financing in 2020. Pandaily
- Douyin tests 2 social features and a long-form video portal. One social feature recommends follower’s contact card via a pop-up window; the other allows users to start or join a group chat while watching a video. Tech planet, in Chinese
- China halts over 40 IPOs as it investigates law firm and broker. China said it would tighten scrutiny over accounting firms in a fight against financial forgery, vowing “zero tolerance” toward misconduct. Reuters
Job of the day
Codejudge is looking for a remote UX Designer, more information on https://chinaccelerator.com/jobs/ux-designer-codejudge/
Events
Get invited to SOSV MOX’s investor-exclusive virtual networking event, with watch parties in Taipei and Shanghai, on August 25 https://www.eventbrite.com/e/mox-11-demo-day-tickets-163137571869