NewsWrap brings you the latest today in Tech News from China and the world at large. Today we look at all the companies eyeing Yahoo, the possibility of group buy sites going the way of the dinosaurs, ChinaStars event, Sina Weibo’s search feature, and YouTube coming to Singapore.
Alibaba is not the only Company Eyeing Yahoo
We’ve been following this story for the past several weeks since Jack Ma announced that he is “very interested in Yahoo.” Apparently he isn’t the only one. Google has held early-stage discussions considering a proposal. But this seems unlikely given the scrutiny Google is under by federal antitrust lawyers. Microsoft is also looking at Yahoo, but more as a financier and not a full owner. Mashable.com quoted The Wall Street Journal writing that there are “at least nine private equity firms … studying a potential buyout.”
Group Buy Sites: A Doomed Future?
An interesting article outlining why the group buy market won’t last. The article argues that once restaurants, leisure venues and cosmetics retailers figure out how to offer their own online and mobile discounts the group buy industry could be put on the brink of collapse. “In a sentence, daily deals are on the brink of extinction–provided if merchants manage to band together in a way that offers incentives and deals in a more direct and cost-effective way, that e-commerce whole genre is extinct.”
ChinaStars: 3-day Hackathon
Over a hundred Chinese students crammed into classrooms and dormitories at the Chinese Academy of Sciences this weekend in hopes of winning 24,000 RMB to continue working on their app product for the next three months. Most of the teams are apparently working on social local-mobile-android apps, generally working on apps geared toward students. Winners will be determined on Monday.
Sina Weibo Releases Real Time Search Engine
Sina Weibo recently released a weibo-based search feature. It allows you to search through posts, users, events, groups, votes and apps. Technode writer Ben Chiang argues that this addition is not simply a new feature but a very important strategic upgrade. “Twitter has proved its value in breaking the news while Sina Weibo its Chinese counterpart also doesn’t fail to impress…With the presentation of an independent search product, Sina has decidedly furthered its efforts to build a weibo ecosystem.”
YouTube Comes to Singapore!
Last week YouTube launched their Singapore domain. The goal is to allow Singaporeans to quickly and easily find videos that are relevant to them and will have an online space for the national space for Singaporean creators to get exposure. Julian Persaud, Managing Director of Google Southeast Asia said at the press conference at Muhammad Sultan Road, that the launch of a localized Singapore service was “long overdue.”