E-commerce

Offering a more humane and entertaining way of online shopping, livestreaming is becoming a thorn in the side of Chinese e-commerce giants.

The merger comes amid competition in community group-buying sector.

While Alibaba’s second-hand exchange platform Xianyu and Tencent-backed used electronic marketplaces are already big, startups look to niche verticals for opportunities.

Over 1,000 shops that buy goods on Lingshoutong have made more than RMB 1 million (USD 142,686) in net profits.

Social Bella has raised USD 110 million in funding from big-name investors like Temasek, East Ventures, Pavilion Capital, and Jungle Ventures.

Earlier this month, the firm received a USD 1.2 billion check from its parent, Walmart.

Nice Tuan completed three financing rounds this year alone.

Oway Ride has raised a total of USD 26 million from investors such as the World Bank’s International Finance Corporation, Openspace Ventures, Emerging Markets Group, and Daiwa PI Partners.