DCM is poised to make roughly $1 billion off its $26 million bet on Bill.com

David Chao, the cofounder of the cross-border venture firm DCM, speaks English, Japanese, and Mandarin. But he also knows how to talk to founders. It’s worth a lot. Consider that DCM could see more than $1 billion from the $26.4 million it invested across 14 years in the cloud-based business-to-business payments company Bill.com, starting with […]

Qualcomm-powered Chinese XR startup Nreal raises $40 million

Nreal, one of the most-watched mixed reality startups in China, just secured $40 million from a group of high-profile investors in a Series B round that could potentially bring more adoption to its portable augmented headsets. Kuaishou, the archrival to TikTok’s Chinese version Douyin, led the round, marking yet another video platform to establish links […]

China Roundup: Tencent’s new US gaming studio and WeChat’s new paywall

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China’s largest Q&A platform, Zhihu, raises $434 million from investors including Kuaishou, Baidu and Tencent

Zhihu, the largest question and answer platform in China, has raised a $434 million Series F. This is not only the company’s biggest round since it launched in 2011, but also one of the largest secured over the past two years by a Chinese Internet culture and entertainment company, said China Renaissance, which served as […]

China’s obsession with short videos has its internet giants worried

Take a subway ride in China and expect to see a lot of commuters’ eyes glued to TikTok videos on their phones. Video clips like TikTok’s are now consuming nearly nine percent of Chinese people’s time online, a 5.2 percent jump from 2017, according to app analytics firm QuestMobile. Apps such as TikTok — which […]