Market battles between Chinese tech leaders
Alibaba over China's fast-growing e-commerce market play out in the recent U.S. $1.3 billion IPO of Chinese fashion retailer
the 38th China-based company to go public in the U.S. in a record 2018!
After years of keeping close within their original core business -- e-commerce for
Alibaba and social media and gaming for
Tencent -- these two Chinese tech titans are duking it out.
Mogu rejected Alibaba's investment offers early on but
Tencent soon angled in.
Tencent is ganging up on
Alibaba with other killer moves such as investing in red-hot team-buying mobile shopping app P
Alibaba still claims a leading 58 percent share of China
huge $1.1 trillion online shopping sector -- far larger than the U.S. at $713 billion. China's e-commerce market is projected to grow to $1.8 trillion by 2022.
China's top unicorn
an app maker of
for today's news and
for short, quirky videos, is putting 20% of its own capital toward a new ByteDance $1.45 billion fund,
reports, to invest in AI and digital content. That would put in the same league as
that has a similar fund investing in closely aligned startups. The next step for the Beijing-based go-getter
could be to launch a messaging app competing with China's highly popular social networking app