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Subletting: Hemnet enters Blocket territory

Hemnet, the dominant Swedish real estate site still owned by the real estate agents but under takeover discussions (see here and here),  has bought a part of a subletting site, Qasa.se. With this move Hemnet is entering Schibsted territory: Blocket is the leading Swedish site in this segment. Qasa takes the subletting a step forward by giving the apartment owner and the secondary tenant a...

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BitAuto CFO adds COO responsibilities

As Chinese companies become more globalized, executives with international experience and knowledge of accounting practices overseas are becoming increasingly important for their success. BitAuto Holdings Ltd. (NYSE: BITA), which provides Internet content and marketing services for the fast-growing automotive industry, is a case in point: It has named Andy Zhang Xuan to the position of COO in...

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Strong revenue growth for Alibaba Group in Q2

BY DON GASPER Moody’s Investors Service says that Alibaba Group Holding Ltd’s results for April-June 2015 — the first quarter of its 2016 fiscal year — support the company’s A1 issuer and senior unsecured debt ratings, and the stable outlook on the ratings. “Alibaba’s consistently strong revenue growth is in line with Moody’s expectations, and reflects the...

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China’s 51Job exceeds expectations in Q2

China’s leading job recruitment board, 51Job Inc., did better than expected in the second quarter of 2015, according to figures released this week. Total revenue increased by 11 percent over the Q2 of 2014 to RMB 508.0 million ($81.9 million U.S.), exceeding the company’s guidance range. Of this, online recruitment services revenue increased by 7.6 percent year-over-year to RMB 335.7...

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SouFun revenue up in Q2 2015

BY DON GASPER SouFun Holdings Ltd., operator of China’s leading real-estate portal, saw its revenue increase by 25.4 percent year on year during the second quarter of 2015. Revenue for the quarter came in at $210.9 million versus the analysts’ consensus estimate of $201 million. Revenue from e-commerce services increased by 103.0 percent year-on-year to $158.4 million. Net income attributable...

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Two Chinese automotive websites announce Q2 results

BY DON GASPER Autohome Inc. and BitAuto Holdings Ltd., operators of two leading Chinese automotive websites, announced their unaudited financial results for the second quarter of 2015 at the beginning of August. Beating estimates, Autohome had a total net revenue of RMB 86.01 million or $138,874 (U.S.) for the three months ending on June 30, which represented a 69.9 percent increase on the second...

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