News & Updates - Monday, August 29, 2005
a:c on M.I.T. Tech Review - Shanghai -- Once Again -- Is a Thriving Center of Business
This week's a:c trend exclusive at TechnologyReview.com:
Shanghai -- Once Again -- Is a Thriving Center of Business
The successful IPO of the Chinese search engine Baidu, mentioned here two weeks ago, has drawn renewed attention to the growing number of tech-related investment opportunities in China. With companies like Yahoo joining the rush earlier this month, by investing $1 billion in Hangzhou-based search engine Alibaba, the drum beat grows louder.
With increasing frequency, we are encountering companies like 99bill.com, a Shanghai-based e-commerce infrastructure company that offers an e-mail and mobile phone online payment platform. On August 11, 99bill.com received an undisclosed Series A round of venture funding led by Doll Capital Management and Peninsula Capital. The company claims that Internet-based transactions reached $2.8 billion in China in 2004. It hopes to facilitate the growth of this market going forward by making transactions easy to complete on the Internet.
Go To Technology Review for Full Story
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