Fri, Jun. 19, 9:21 AM
- 10 days after E-House (NYSE:EJ) announced co-chairman/CEO Xin Zhou and director Neil Shen (26% stake between them) have offered to take it private for $7.38/share (part of a huge wave of going-private offers for U.S.-traded Chinese companies), SINA announces it has joined Zhou and Shen's consortium.
- Sina adds the consortium owns 48% of E-House's shares; that implies Sina's stake is at 22%. If/when the deal closes, Sina plans to exchange its E-House stake for a portion of the shares in E-House's LEJU online real estate subsidiary currently owned by E-House.
- E-House's board is "continuing its evaluation" of the offer. Shares currently trade 6% below the offer price.
Jun. 19, 2014, 1:38 PM
- Aicai, a Chinese lottery ticket site established in '07, is now fully owned by Sina (SINA -2.4%). Aicai's founding team will remain with the company.
- Aicai was established in '07, with Sina holding a majority stake. The site raised funding in '09.
- Research firm Analysys estimates Aicai had a 4.9% share of the Chinese online lottery market in Q1. 500.com (WBAI +3.2%) had a 5.8% share, Alibaba's Taibao site an 11.3% share.
Nov. 19, 2012, 8:30 AMSina (SINA) +6.9% following a report Alibaba is taking a 15%-20% stake in Sina's Weibo microblogging platform for $2B-$3B. Such a deal would both grant a high valuation to Weibo, which now has 424M registered users and over 40M monthly active users, and potentially open up new monetization opportunities, given Alibaba's Chinese e-commerce/online payments clout. If the rumor pans out, Yahoo (YHOO) would have an indirect ~3%-4% stake in Weibo through its 23% stake in Alibaba. | Nov. 19, 2012, 8:30 AM | 2 Comments
Mar. 14, 2012, 2:41 PMTencent (TCEHY.PK), owner of China's extremely popular QQ instant messaging platform, says it plans to make new acquisitions to lessen its dependence on the online gaming market, where it has a leading share. Many expect the pace of M&A activity among Chinese Internet names to pick up following Youku.com (YOKU) and Tudou's (TUDO) merger. | Mar. 14, 2012, 2:41 PM | Comment!
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