Apple Pay competitor ‘Android Pay’ is reportedly coming to China

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It looks like Apple Pay will soon face some competition in the mobile payments space from its biggest competitor, Android.

According to a new report from China Business News, a new mobile payments service called Android Pay is coming, and will likely launch in the third quarter of 2015.

Android Pay is reportedly being developed by China UnionPay, which is the biggest credit and debit card provider in China. For context, UnionPay is the second biggest payment network in the world next to Visa, based on the value of processed transactions.

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Sprung From The Ashes Of Formspring, Spring.me Raises $5M To Create The “Friendliest Social Network”

Spring.me, the new social network that was previously Formspring, has raised a total of $5 million in debt and equity seed funding from investors including Right Click Capital, Tank Stream Ventures, Nextec Strategic Capital, and Rubicon Project Founder Craig Roah. The company plans to use the funding to expand Spring.me in the U.S., where it just launched.

Formspring’s demise was due in part to the site’s accidental role in faciliating cyberbullying. Though Spring.me, which currently claims five million regular visitors, acquired the Formspring website and database, it wants to create a completely different reputation for itself by becoming the world’s “friendliest social network.” The site lets users engage in Q&A discussions and group chats, share photos and opinion polls, and send private messages.

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Twitter Launches Mobile Payments Before Facebook (but Apple May Have the Last Laugh)

Twitter may be much smaller than Facebook, but its ability to innovate in payments is allowing it to outgun its much larger competitor, at least for the time being.

Both Twitter and Facebook are competing with other tech giants, including Apple, Google, PayPal and the leading credit card companies to own the emerging mobile payment sector, which is immensely popular with consumers and has proven fertile territory for startups. More specifically, the leading technology companies are seeking an advantage in so-called peer-to-peer payments, which are typically smaller payments sent from one person to another. Individuals could use such payments, for example, when they are splitting a bill or to wire money.

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With the Arrival of Twitter’s ‘Buy’ Button, Is It Time to Move Into Social Commerce?

Sales on Mobile Are Booming, So It's Time to Think Small Screen First

Twitter now joins other companies like Facebook that are trying to prove that a return on investment can be achieved through social commerce.

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Why Entrepreneurs Should Listen to Alibaba’s Jack Ma

The two options for Internet startups, all entrepreneurs know, have long been B2C (business to consumer) or B2B (business to business). But in his speech at Softbank World 2014, Jack Ma, Alibaba’s self-made founder and CEO, declared open the era of C2B, or consumer to business, an era in which customers will soon completely dictate to companies what they need and only companies that accommodate them will thrive.

Ma’s notion is so on-target that it would be worth heeding even if his company wasn’t launching a record-breaking IPO. Currently, seven major trends back his paradigm-shifting vision.

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Bigbasket gets $32 million funding ahead of India’s online grocery shopping boom

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India’s ecommerce boom is at high velocity, but the nation’s online groceries sector has been a lot slower to take off. But today’s US$32 million funding round for Bigbasket seems to indicate that this niche area is now gaining traction.

Bigbasket’s series B round comes from Helion Ventures and Zodius Capital, reports NextBigWhat. It comes a surprising two-and-a-half years after the startup’s US$10 million round.

Bigbasket currently operates in three Indian cities – Bangalore, Hyderabad, and Mumbai. The new VC money will be used to expand its reach to 10 cities by the end of next year, says CEO VS Sudhakar. The online grocer is handling 5,000 orders per day at present.

The startup is up against local rivals such as Zopnow and Ekstop. However, Zopnow only covers Bangalore, while Ekstop is restricted to Mumbai.

All these startups will get a shock soon when local retail giant Reliance starts its long-anticipated ecommerce business.

Alibaba could raise $21.1B in largest US IPO ever

Alibaba could raise $21.1B in largest US IPO ever

According to various press reports, Chinese e-commerce giant Alibaba has set the range for its initial public offering: between $60 and $66 per share.

Bloomberg calculates the company would raise as much as $21.1 billion at the high end of that range — which would make it the biggest U.S. IPO ever.

The Wall Street Journal stated that the massive company would give its employees, investors, and insiders the option to purchase their own shares at the IPO price before it begins trading on the New York Stock Exchange this fall.

Alibaba president Jack Ma, who will become a billionaire, at least on paper, will embark on a trip across select American cities to drum up hype before the launch. That odyssey will end September 18 in New York City, various press reports stated. Banking giant Barclay’s has been tasked by Alibaba to handle the IPO. Goldman Sachs will also help chaperone the offering.

Alibaba’s IPO has been widely expected and anticipated and is being touted by the American and Chinese press as one of the biggest pending IPOs in history. For its part, Yahoo owns a 24 percent stake in Alibaba. The Economist last year valued the China-based Internet portal at between $55 billion all of the way up to $120 billion.

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