Who bought what – Q1 2019

Juniper Networks has entered into a definitive agreement to acquire Mist Systems, a cloud-managed wireless networks powered by AI. Under the …

There are millions of entrepreneurs around the world. Despite a lot of the startup hype going into hot spots like Silicon Valley, Boston, London or Israel, the truth is that across APAC, there are a number of entrepreneurs succeeding in their ventures of seed funding and expansion.

And in fact, a lot of the Western startups, have been created by or are under the belt of many APAC-born tech superstars.

On the financial side, one of the main goals for any startup really is to break the $1bn barrier in market value.

That achievement automatically crowns that business with the title of unicorn.

A unicorn refers to a privately held startup business whose market capitalisation is evaluated at anywhere between $1bn and $9.9bn.

Any company evaluated at $10bn to $99.9bn is nicknamed as a decacorn while those worth $100bn or more, are named hectocorns.

Across the globe, there are over 300 brands nicknamed as unicorns, a staggering increase from 2013 for instance when there were only 39 brands with an evaluation of $1bn or more.

The US is home to nearly half of these mega startups with 157 brands, which combined carry a value of more than $560bn.

Yet, Asia is also making waves in this space, particularly China, which has become home to a respectful number of unicorns at 99.

When countries like India, Singapore, the Philippines, Hong Kong and Australia are added, the APAC region becomes home to about115 unicorns.

In comparison, the European Union is home to just around 35 unicorns.

Focusing on APAC and particularly on the unicorns of the cloud and data arenas in China, Data Economy’s João Marques Lima presents the most prominent brands reimagining how business is done

Social selling startup Beidian raises RMB 860 million, challenges Pinduoduo

According to the company, it has attracted prominent venture capital funds as major investors, including Hillhouse Capital, Sequoia Capital, Sinovation …
May 10, 2019

2 min read

(Image credit: Beidian)

Chinese social retail startup Beidian announced Wednesday it closed its first round of funding totaling RMB 860 million ($126 million), as another Pinduoduo challenger joins in on the e-commerce fray.

According to the company, it has attracted prominent venture capital funds as major investors, including Hillhouse Capital, Sequoia Capital, Sinovation Ventures, and Gaorong Capital, among others. The funding will be used to upgrade its supply chain management system to improve the shopping experience, led by influencers or key opinion leaders (KOLs) on the platform, said Beidian in an announcement.

A subsidiary of mom and baby-focused e-commerce website Beibei, Beidian was founded in August 2017 by Allen Zhang, a former Alibaba product manager in Hangzhou, the capital of Zhejiang province in eastern China. Beibei most recently closed a Series C in January 2015 from investors including Chinese equity firm New Horizon, as well as Capital Today, an early investor of online retail heavyweight JD.com.

In an open letter sent earlier this year, Beidian’s president Gu Rong touted the company’s “proprietary” e-commerce model, in which the platform forms partnerships with brands, manufacturers, and agri-food suppliers, and verifies the authenticity and quality of the products. The platform stocks and ships goods to customers, unlike Alibaba’s massive C2C platform, Taobao, which does not hold inventory.

“Merchants” act like product ambassadors and promote goods in their social networks, including friends and acquaintances, a company spokesman told TechNode. To encourage the social aspect, he added, buyers are offered discounts for promoting products to their social network.

The model addresses a key weakness in rival Pinduoduo at present: the issue of product authenticity. Beidian develops relationships with manufacturers and brands, then authenticates the goods itself, a strategy that Shanghai-based Pinduoduo is also adopting as its reputation as a platform for counterfeits has proven hard to shake.

Zhou Jiajun, Investment Director for Sinovation Ventures said in an announcement Thursday that despite the density of players in the e-commerce market, Beidian’s growth figures “was beyond our expectation,” (our translation). The China-focused tech VC had avoided investments in retail businesses, but now says that it expects a profit-making period for e-commerce players in the WeChat ecosystem. Beidian’s cost structure adds a margin of safety, it added.

China’s social e-commerce market has become increasingly crowded. Hangzhou-based Yunji plans to raise $200 million in an US initial public offering (IPO) filed last month. According to market research firm Questmobile, the number of monthly active users (MAU) from Beidian surged 550% year-on-year to 13.29 million in March, more than double that of Yunji (5.87 million), but one-twentieth the size of Pinduoduo (272 million).

Related Posts:

  • No Related Posts

China Petroleum & Chemical (NYSE:SNP) Cut to “Strong Sell” at ValuEngine

Man Group plc bought a new position in shares of China Petroleum & Chemical during the third quarter valued at about $2,411,000. Verition Fund …

China Petroleum & Chemical logoChina Petroleum & Chemical (NYSE:SNP) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Wednesday, April 24th, ValuEngine reports.

SNP has been the subject of several other research reports. Citigroup downgraded shares of China Petroleum & Chemical from a “neutral” rating to a “sell” rating in a research note on Friday, January 4th. Morgan Stanley downgraded shares of China Petroleum & Chemical from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. Credit Suisse Group downgraded shares of China Petroleum & Chemical from an “outperform” rating to a “neutral” rating in a research note on Thursday, January 10th. Finally, Zacks Investment Research downgraded shares of China Petroleum & Chemical from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $94.00.

Shares of China Petroleum & Chemical stock traded down $0.11 on Wednesday, reaching $73.44. 6,102 shares of the stock were exchanged, compared to its average volume of 164,902. China Petroleum & Chemical has a one year low of $69.02 and a one year high of $105.61. The company has a quick ratio of 0.55, a current ratio of 0.94 and a debt-to-equity ratio of 0.32.

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in China Petroleum & Chemical during the third quarter worth $121,000. FMR LLC lifted its position in shares of China Petroleum & Chemical by 1.3% during the third quarter. FMR LLC now owns 58,071 shares of the oil and gas company’s stock valued at $5,832,000 after purchasing an additional 771 shares in the last quarter. Man Group plc bought a new position in shares of China Petroleum & Chemical during the third quarter valued at about $2,411,000. Verition Fund Management LLC bought a new position in shares of China Petroleum & Chemical during the third quarter valued at about $454,000. Finally, Mackenzie Financial Corp bought a new position in shares of China Petroleum & Chemical during the third quarter valued at about $382,000. Institutional investors own 1.02% of the company’s stock.

About China Petroleum & Chemical

China Petroleum & Chemical Corporation, an energy and chemical company, engages in the oil and gas, and chemical operations and businesses in the People’s Republic of China. It operates through five segments: Exploration and Production, Refining, Marketing and Distribution, Chemicals, and Corporate and Others.

Read More: How can you know how many shares are floating?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for China Petroleum & Chemical Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for China Petroleum & Chemical and related companies with MarketBeat.com’s FREE daily email newsletter.

Related Posts:

  • No Related Posts

Chinese investors turning away from US startups

Chinese investors are increasingly turning away from U.S. tech startups and … investments in U.S. companies in critical and emerging technologies.

Chinese investors are increasingly turning away from U.S. tech startups and diverting money towards companies in Southeast Asia and India in the face of bilateral tensions, according to Edith Yeung, partner at Proof of Capital and advisor to 500 Startups.

Yeung points to heightened scrutiny by the Committee on Foreign Investment in the United States (CFIUS) as a big reason for the investment pullback. The government group tasked with reviewing foreign investments in U.S. companies has blocked multiple acquisition overtures by Chinese companies, including Ant Financial’s attempt to buy MoneyGram and Broadcom’s pursuit of chipmaker Qualcomm, though Broadcom was a Singapore-based company, on national security grounds.

“During the Obama years, 90% of these deals would get passed,” Yeung said. “During the Trump years, only 60%. That includes deals by Baidu, Alibaba, and Tencent. They are all becoming a lot more careful.”

Last year, the Trump administration expanded CFIUS’s powers, allowing the group to not only review takeover deals by foreign companies but also non-controlling investments in U.S. companies in critical and emerging technologies. Just last month CFIUS demanded the Chinese owner of gay dating app Grindr give up control of the company, citing national security concerns.

Shifting focus

Chinese firms invested $3.6 billion in U.S. companies last year, according to research firm Rhodium Group. While that number marked a record for total investment, the number of deals dropped from 300 in 2015 to 270 in 2018. The study reports state-owned Chinese investors had all but disappeared by February of this year.

“In the past, Chinese investors have been very excited about investing in blockchain, AI, and autonomous car related technology,” Yeung said. “But CFIUS is literally naming venture capital (VC) firms that have backing from the Chinese government and blocking them.”

That pushback has forced investors to shift their focus away from sensitive technology areas. Rhodium reports roughly 40% of Chinese VC deals in the U.S. went to biotechnology and pharmaceutical companies. Tech heavyweight Tencent recently announced a $150 million investment in Reddit, though that sparked fears of censorship on the platform.

Chinese investors have also doubled down on Southeast Asian startups and tech companies in India, Yeung says. China’s VC investment in Indian startups increased to $5.6 billion last year, according to data compiled by research and analytics platform Tracxn, a five-fold increase in just 2 years. Those investments have been fueled by the big Chinese tech names Baidu, Alibaba, and Tencent, known as BAT. Last month, Alibaba-backed Ant Financial raised $100 million for its venture fund BAce Capital, targeting early-stage startups in India and Southeast Asia.

“Tencent, Alibaba, Baidu, none of them really took off in the U.S. with their products,” Yeung said. “I’m not saying they’re giving up in the U.S., but they’re definitely not growing their own product.”

Akiko Fujita is an anchor and reporter for Yahoo Finance. Follow her on Twitter at @AkikoFujita

More from Akiko:

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, YouTube, and reddit.

Related Posts:

  • No Related Posts

Hidden Giants. 5 Chinese flying cloud unicorns

UCloud has gone through five funding rounds which included China Mobile, Legend Capital, Bertelsmann, DCM Ventures, Bertelsmann Asia …

There are millions of entrepreneurs around the world. Despite a lot of the startup hype going into hot spots like Silicon Valley, Boston, London or Israel, the truth is that across APAC, there are a number of entrepreneurs succeeding in their ventures of seed funding and expansion.

And in fact, a lot of the Western startups, have been created by or are under the belt of many APAC-born tech superstars.

On the financial side, one of the main goals for any startup really is to break the $1bn barrier in market value.

That achievement automatically crowns that business with the title of unicorn.

A unicorn refers to a privately held startup business whose market capitalisation is evaluated at anywhere between $1bn and $9.9bn.

Any company evaluated at $10bn to $99.9bn is nicknamed as a decacorn while those worth $100bn or more, are named hectocorns.

Across the globe, there are over 300 brands nicknamed as unicorns, a staggering increase from 2013 for instance when there were only 39 brands with an evaluation of $1bn or more.

The US is home to nearly half of these mega startups with 157 brands, which combined carry a value of more than $560bn.

Yet, Asia is also making waves in this space, particularly China, which has become home to a respectful number of unicorns at 99.

When countries like India, Singapore, the Philippines, Hong Kong and Australia are added, the APAC region becomes home to about115 unicorns.

In comparison, the European Union is home to just around 35 unicorns.

Focusing on APAC and particularly on the unicorns of the cloud and data arenas in China, Data Economy’s João Marques Lima presents the most prominent brands reimagining how business is done