Chinese news app acquires LA video startup
Top business and technology news for February 1, 2017. Part of the daily SupChina news roundup "A tale of two disappearing billionaires."
- Flipagram acquired by China’s Toutiao / LA Times
Toutiao is a fast-growing app in China that aggregates news and social media stories using an algorithm that tailors the story selection for each user. Today, it acquired Flipagram, a Los Angeles–based app and website that allows users to easily edit videos and display them online. The deal’s value was not disclosed. The acquisition will give Toutiao access to information about the U.S. social media market, while Toutiao’s advanced recommendation algorithms will be applied to serve Flipagram’s users. Both companies are betting that short-form video will have a much larger role online in 2017 than it did the year before.
- Apple renaissance in China key for iPhone 8 success but it faces a tough road ahead / CNBC
Sales of the Apple iPhone in China are stable but not exceptional, according to recent earnings reports as interpreted by analysts. Last week, CNBC noted that for the first time since 2012, the iPhone did not earn the spot for the top-selling smartphone in China. The Oppo R9 sold more, and less expensive phones from Huawei, Oppo Electronics, Vivo, and Xiaomi became increasingly competitive, as you can read about here in The Wall Street Journal (paywall).
- EU slaps China, Taiwan with steel anti-dumping duties / Washington Post
- Chinese manufacturing expands in January, official PMI shows, pointing to economic stabilization / CNBC
- Facebook is trying everything to re-enter China — and it’s not working / WSJ (paywall)
- For couriers, China’s e-commerce boom can be a tough road / NYT (paywall)
- Coal production down 9.4 pct in 2016 / Xinhua (state media)
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