FAST NEWS: Newborn Town’s innovation business jumps
The latest: Social networking platform operator Newborn Town Inc. (9911.HK) said Tuesday it expects to report that revenue from its social networking business reached between 2.95 billion yuan ($415 million) and 3.05 billion yuan…
East Buy drama offers lesson on the power of key influencers
The clash between the e-commerce company’s CEO and its top livestreaming host touched off a roller coaster ride for its shares Key Takeaways: East Buy fired its longtime chief Sun…
Joyy stuck with unwanted China business after $3.6 billion Baidu sale collapses
The livestreaming company may be forced to find a new buyer for its Chinese business at a far lower price after its sale to Baidu announced in 2020 failed to…
Huya revenues sag 30%, looks ahead to diversification plan
The company has been rocked by a series of challenges over the last two years, and is hoping to find stability by lessening its dependence on livestream gaming revenue Key…
FAST NEWS: Scienjoy pivots to metaverse with Middle Eastern investment
The Latest: Scienjoy Holding Corp. (SJ.US), operator of an entertainment livestreaming platform in China, announced on Wednesday it will invest $3 million to acquire 30% of DVCC Technology LLC, a…
Auditor drops Huafang, dealing new blow to China’s ‘internet bad boy’
KPMG’s resignation as auditor for the livestreaming entertainment platform is just the latest in a growing string of problems for the company backed by Zhou Hongyi Key Takeaways: KPMG has…
FAST NEWS: Games could power Newborn Town as core social revenue sags
The latest: Social networking platform Newborn Town Inc. (9911.HK) on Friday reported that revenue from its core social networking business totaled between 1.23 billion yuan ($170 million) and 1.26 billion yuan in…