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CloudMinds Inc., a Chinese start-up focused on the development of cloud-intelligence-based applications, and backed by SoftBank Group Corp., announced that it raised US$100 million in a series A funding round during a press conference held in Beijing yesterday.
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As many as 79% of entrepreneurs in China are female, compared to 54% in the U.S. and 53% in the U.K., according to a survey conducted last year by a joint venture bank established by the Silicon Valley Bank and Shanghai Pudong Development Bank.
The reason behind this significantly higher ratio of female entrepreneurs could be because more women than men graduate from universities in China. There is also no cultural taboo, as perhaps is evident in Japan, for women to continue working after getting married and having children in the world’s second largest economy, the survey’s author explained.
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Chinese live-streaming apps have found a way to make money off their user-generated content, while enforcing the government’s strict content rules.
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Live streaming apps have quickly become the hottest broadcast media to watch in China after Wang Sicong, the son of China’s richest man Wang Jianlin, launched an app late last year.
From their start, these apps have been monetised in China, fans and users can purchase different digital sticker gifts including Ferraris to send to their favourite ‘zhi bo wang hong’ streaming stars. These stars can then exchange these gifts for money, on average apps take a cut of around 10%.
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Seattle Chinese Connection 