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Tencent Buys Google Social Networking Tencent Buys Google Social Networking(0)

Tencent, China’s No.1 online game operator and its largest instant messaging provider, had bought Comsenz, a Beijing-based social-networking provider, Comsenz said in a statement on its website. Comsenz is backed by Google Inc, Sequoia Capital and Morningside Ventures.
Tencent, which bought a 10 percent stake in Russian Facebook investor Digital Sky Technologies (DST) for $300 million earlier this year, could be on the look out for more acquisitions as it seeks to expand its dominance beyond China.

China’s Internet space is becoming more cut-throat as users become more sophisticated and selective over which products and services they use and companies jostle for attention in an increasingly crowded arena.

Source : Konaxis

Social Networking site Renren Social Networking site Renren(0)

The site changed its name from last month in order to attract a wider user base of white collar workers.

According to Beijing-based Oak Pacific Interactive (OPI) figures, the service had an estimated 40 million users who had registered their real names, making it one of the most powerful social network services in China.

OPI is the largest operator of social networking websites in China, after taking ownership of the one of the most viewed in the country,, information technology portal Donews and xiaonei. It employs 1,200 people.

One of the reasons for xiaonei’s success, said Chen, lay in the fact that it had developed into a platform for third parties and their applications, with a special emphasis on entertainment features.

Liu Ning, from the technology sector consulting company BDA China, said: “It’s quite early for a social network service to make money in just two or three years. Most, both in and out of China, find it difficult to make a profit. It’s likely that could also break even but others, even the popular, are still losing money. ”

Source : Konaxis

Qingyuan, Daimler electric vehicles Qingyuan, Daimler electric vehicles(0)

Qingyuan is the first Chinese firm that has sold more than 2,000 self-made electric vehicles in the United States.

Qingyuan is also exploring cooperative opportunities in the green car business with Beijing Hyundai, Hyundai Motor’s car venture with Beijing Automotive Industry Holding Corp.

Several Chinese carmakers, including Chery Automotive, are also among Qingyuan’s potential partners, said the source.

To fund expansion, the firm is in talks with the investment arm of Lenovo Group’s parent firm, among others, on a share sale, raising as much as 350 million yuan ($51 million).

Several overseas companies, including venture capital firms in the United States, have also expressed an initial interest in Qingyuan, said the source without elaborating.

Source : Konaxis

Socialized Network Software and Friends-making Websites Socialized Network Software and Friends-making Websites(0)

According to the following chart, horizontal axis indicates simple communication to the application of information release and the longitudinal axis indicates from recessive individual to dominant community. The software designed for dominant sociality generally gives priority to the direct establishment of social friendship, featuring in social colony and the human resource share between friends. See the leisure friends-making website on the upper left corner. Business friends-making websites also lay the foundation on the establishment of dominant social relations, but have direct applicable purpose, i.e. solve the application issues in establishing social relations.

Learn more about online travel reservation industry in China please read iResearch China Social Networking Research Report 2006.

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