User spending in Douyin and TikTok hit new high in May

By Tony Xu

Jun 12, 20191 min read Short video app Douyin and its international version TikTok have brought in a total of $9 million worldwide through in-app sales of virtual coins, not including revenue from China’s third-party Android stores, according to mob…

Tencent’s ‘Game For Peace’ rakes in $70 million in May

By Tony Xu

Jun 10, 20191 min read Mobile battle royale title “Game For Peace” brought in $70 million from in-game purchases on iOS in May. Tencent launched the title to take the place of “PUBG Mobile,” which it was unable to monetize in China.The new version o…

Briefing: Sinovation Ventures opens new Greater Bay Area HQ

By Emma Lee

Jun 6, 20191 min read Lee Kai-fu’s Sinovation Ventures Opens Greater Bay HQ After Raising USD362 Million – Yicai GlobalWhat happened: Sinovation Ventures, a Chinese venture capital fund co-founded by former Google China head Kaifu Lee, has opened on…