NetEase is the Chinese internet pioneer you have probably never heard of. Founded in 1997, before its bigger and better-known Chinese internet peers Baidu, Alibaba and Tencent (collectively known as BAT), it is largely unknown outside of China. NetEase is currently making big pushes into many new businesses: e-commerce, online learning, music streaming and a host of other businesses, but it still has a long way to go to climb back to the top of the China tech tree. Analysts note that NetEase lacks the breadth of its rivals’ businesses, and that will likely stymie its growth, unless it can continue to diversify successfully.
This week saw the end of Yahoo China, the Shanghai Composite Index peaked, and Uber found an unlikely partner in the Warren Buffet-backed BYD.
The week that was: The Alibaba IPO, possibly the biggest IPO ever, is finally coming; online recruitment site Zhaopin plans to list on the NYSE; and in a move to boost the local dairy industry, China is clamping down on imports of milk products and baby formula. Alibaba’s IPO Prospectus Filing This was arguably the […]