E-Commerce
Is The E-Commerce Price War Fake?
This week, Chinese e-commerce store 360buy has declared a price war on home appliance e-tailers Suning and Gome, promising that they will sell everything cheaper than their competitors. Interestingly, price comparison platform eTao.com has published a chart, that shows that amazon.cn is currently the cheapest supplier of electrical appliances, followed by Gome, whereas 360buy is only in 4th place. Could it be a staged price war?
Source: Tech in Asia
Digital
Sina Weibo's Q2 Financials
Chinese social network website Sina Weibo have released their latest financial report for Q2: The net revenue rose to $131.6 in revenue, which is a growth of 11% compared to the last year. Their net income for this period has been $33 million. For the first time, they have disclosed how much revenue they've made directly from advertisment on Weibo: 10$ million, which amounts to 13% of the total revenue.
E-Commerce
China's Group Buying Site Lashou Has Lost Tremendous Market Share
Chinese daily deals website Lashou has lost 55% of their market share since October 2011. They've received $50 million in funding in December 2010 and $110 million in April 2011, but this year they've cancelled their US IPO filing and it doesn't seem like things are going to get any better.
Source: Tech in Asia
Digital
Free platform to find your Taobao Girl
Taobao offers a platform where models can make profiles for free and shopowners don't have to pay service fees. The Taobao girls have earned 11 billion RMB in the first half of this year. One girl managed to earn 50.000 RMB in just one day!
Source: Huxiu
E-Commerce
Taobao's Aversion To Moguji
In May, Mogujie (Chinese version of Pinterest) brought a transaction volume of 180 million yuan to Taobao and received a commision of 6 million yuan. Interestingly the core team of Mogujie consists of a lot of former Taobao employees, who are quite familiar with the structure of Taobao and can take advantage of it.
Source: IT Feed