Thursday, 2024 July 18

Zhang Yiming’s 5 principles in life | China Venture Roundup Volume 30

Understand what moves China tech with us — we roundup what you need to know about the local venture scene every Thursday morning 8am (GMT +8). The big investment stories, MNC partnerships, noteworthy startups, most invested industries of the week and more. 

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MNCs in China 

Beiersdorf has launched NX China, with the goal of recruiting local beauty and skincare oriented startups to join its accelerator programme. Selected startups will be able to access strategic investments from Beiersdorf’s corporate venture capital (CVC) arm, and make use of top notch product testing facilities and expert technologies from Beiersdorf’s New Research and Innovation Centre in Shanghai.

KrASIA News Picks

Doing extraordinary thing with an ordinary mind

“When your external world is rocked by turbulence, what you can do is maintain an inner state of calm and normalcy.” Zhang Yiming’s speech for ByteDance’s 9th anniversary reveals his take on life and mindset as he leads the world’s most valuable into its future.

A letter from Lei Jun: Starting over one last time

Reflecting on his career – from programmer, to angel investor, to Xiaomi founder – this is Lei Jun’s open letter as he embarks on “the last major entrepreneurship project” of his life.

Going Public: IPOs

Energy Monster | Debuted on NASDAQ

On 2 April, 2021, Shanghai-based Energy Monster listed on the NASDAQ in the United States under the name Smart Share Global. The initial public offering of 17.65 million American Depositary Shares (ADS) was priced at USD 8.50 per share, for gross proceeds of USD 150 million.

With 36.4% of market share in 2019, Energy Monster is the biggest player in the sector in China: some 14.8 million people accessing the service through a WeChat mini-program on a monthly basis, 36Kr reported.

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China Venture Roundup
China Venture Roundup
China Venture Roundup is a weekly insight newsletter published by 36Kr Global's KrASIA team since 2020, covering top news, market moves and major trends in the Chinese startup and venture investment scene.

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