Tencent Holdings (TCEHY) has introduced an operating system for smartwatches, TVs and other Internet-connected devices, ramping up the competition for China’s booming mobile market. Called TOS+, the operating system is open to all developers, similar to Google (GOOGL) Android. The OS could pose a competitive threat to Google, Alibaba (BABA) and smartphone developer Xiaomi. Google Android is the dominant smartphone operating system in China,
Alibaba Group (BABA) and Shanghai General Motors formed a partnership to help finance GM sales, while its Internet rivals Baidu (BIDU) and Tencent (TCEHY) also expand efforts in China’s auto market. Shanghai GM, a joint venture of General Motors (GM) and SAIC Motor, already sells Buick, Cadillac and Chevrolet cars on its Alibaba’s TMall site. Alibaba on Friday said it will use its Big Data expertise to help serve up ads to potential GM buyers, as
Chinese classified advertising site 58.com (WUBA) jumped 8% to a new high in early trading Friday after the company announced that it had agreed to buy a 43.2% stake in rival Ganji.com. Separately, 58.com said it had received an additional $400 million investment from China Internet giant Tencent Holdings (TCEHY). Tencent had acquired a 19.9% stake in 58.com in June 2014, for $736 million, as it boosted its competition with China e-commerce leader