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Speaking at Silicon Dragon's recent VC and tech forum in San Francisco,
Chris Evdemon of
Sinovation Ventures commented that China does not need
Facebook because it already has better sites with more functionality for Chinese users. Of course, one of these is Tencent's social messaging app
WeChat. But it's also Alibaba-owned
UC Web, which is looking to outwit Google and Facebook in Asia.
Li Ka-Shing's tech-focused VC firm
Horizons Ventures has invested $23 million in a Series A financing of an innovative auto manufacturing technology startup in Los Angeles. The startup,
Divergent 3D, relies on a flexible and customizable 3D printing platform to churn out cars with reduced materials, energy and cost.
Peugeot has recently signed on as a strategic development partner.
CEO
Kevin Czinger told Silicon Dragon that the startup evolved from a failed attempt in China a few years ago where he lost control of strategic direction of the company to venture investors. He's brought his former team with him to Divergent 3D.
As smartphone penetration plateaus in China, Internet companies are eagerly hunting for the next major platform that will sustain continuous growth. But before the dawn of the next technological revolution, how to maintain growth momentum in such a saturated market is the biggest question for all players. Tencent-owned
China Tech Insights
recently published a report that delves into the top trends and predictions for China's tech sector.
It's well understood that Chinese investments in America will be an increasingly important area of focus. What is lesser known is the ones that don't work out. This post from the
Paulson Institute outlines two attempted Chinese acquisitions of U.S. commercial aviation firms - one that failed and one that succeeded. It's an interesting read to see what went wrong and right with the transactions.
Read more here:
Paulson Institute
.
Why China has an edge in artificial intelligence. Its large talent pool and and size of its online population are only two of many factors, writes
Kai-Fu Lee, CEO of
Sinovation Ventures.
Hugo Barra is leaving Chinese tech company
Xiaomi after his high-profile hire two years ago from Google and going back to Silicon Valley. Just a matter of timing and burn-out or a sentence for Xiaomi?
In China, the number of people who go online through cellphones has reached 695 million, according to the government-linked China Internet Network Information Center. This is the trend as Chinese has passed right over the PC era. In another mind-blowing statistic, the number of Internet user has soared to 731 million users.
Chinese bike-sharing startup Mobike snags strategic investment from Foxconn, just weeks after pulling in $250 million in a Series D funding.
NOTEWORTHY
Trump team at Davos: We don't want a trade war with China, we just want a better deal.
New age robotics madness. Bitcoin magazine founder Vitalik Buterin was recently staying in a hotel in Shanghai when he was unexpectedly awakened at 1am by a robot mistakenly bringing food to his room.
China's Liaoning province faked economic data from 2011 to 2014 - a rare admission from a provincial governor.
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