Spotify still tops other music services, but its market share declined

Music streaming is continuing to grow around the world. According to a new report from MIDiA, an entertainment research firm, 523.9 million people subscribed to a music streaming service globally as of the second quarter of 2021. This marks a 109.5 million (26.4%) increase since the previous year. Though Spotify remains the most-subscribed streaming service, […]

Changes to corporate investing rules could diminish China’s resilient venture landscape

Since the Ant Group IPO was canceled by central authorities, China’s government has been on a regulatory tear. You know the broad outlines: After a lengthy period of growth, capital investment and aggressive business practices, China’s central government spent much of 2021 reining in its technology sector. While some of the actions were reasonable from […]

ByteDance reorganizes strategic investment team, causes panic

What a roller coaster day for China’s tech industry. TikTok’s parent company ByteDance has dissolved its strategic investment team, sending worrying messages to other internet giants that have expanded aggressively by investing in other companies. At the beginning of this year, ByteDance reviewed its “businesses’ needs” and decided to “reduce investments in areas that are […]

Fortnite is coming back to iOS, but not on the App Store

Fortnite is back on iOS — well, kind of. Through Nvidia’s streaming game service GeForce Now, mobile users on iOS and Android will be able to play a touch-control version of Fortnite through cloud gaming. Players can now register to join the closed beta test for Fortnite’s new mobile work-around — you don’t need to […]

PUBG Mobile maker Krafton sues Apple, Google and rival game developer Garena over clones

Krafton, the developer behind PlayUnknown’s Battlegrounds,” and the maker of PUBG MOBILE, last year’s No. 6 top-grossing mobile game on a global basis, is suing the app stores and a rival game maker, Garena, over copyright infringement involving Garena Online’s Free Fire games. The lawsuit alleges Garena’s games copy numerous aspects of its own, including […]

GoStudent Raises $340M Series D funding round as it pushes into international markets

Fresh from raising a $244 million Series C (that valued the company then $1.7 billion) back in June, K12 online tutoring marketplace GoStudent has now raised a $340 million Series D round led by new investor Prosus, an Amsterdam-based investment firm best known for investing in Latin American and US-based LatinX internet properties. GoStudent expanded […]

Roblox pauses service in China as it takes ‘important transitory actions’

On December 8, Roblox’s Chinese version LuoBuLeSi, published and operated by Tencent, abruptly closed down its server five months after it launched on iOS and Android. Many users, taken by surprise, took to Chinese social media to complain about the short notice. What users had been playing was in fact an “archive-deleting test version,” LuoBuLeSi […]

Tencent offloads stakes in allies as it continues investment spree

Chinese internet titan Tencent is divesting its vast portfolio. On Tuesday, the company announced plans to offload more than $3 billion worth of shares in Sea, a Singaporean internet conglomerate, trimming its stake in Sea from 21.3% to 18.7% and bringing its voting rights under 10%.  The move came less than a month after Tencent […]