656.com Was Sold For A Price Close to Mid-Seven Figure CNY | Chinese Market Daily Report on 9-21-16

By | September 21, 2016

DOMAIN SALES

656.com was sold for a price close to mid-seven figure CNY (close to $750k USD).

On the 2nd day of Domainfest Asia conference, 22.cn held the live domain auction, in which 70.net was sold for ¥530,000 CNY (approximately $80k USD) and dd.net was sold for ¥422,000 CNY (approximately $63k USD).

OTHERS

51 credit card announced the completion of a total of $310 million (according to the exchange rate of 6.7 conversion) C round of financing. Their website domain is u51.com.

Online p2p lending platform WangXinLiCai, announced that they have raised $70 million round C funding. Their website domain is firstp2p.com.

Chinese Internet portal NetEase says that due to media business development needs, the company’s online forum, bbs.163.com, will stop providing services from October 19, 2016.

The founder of personalized news reader app in China, JinRiTouTiao (today’s headlines) announced that they will make a ¥1 billion CNY investment on  content and short-video creation. Their website domain is double pinyin domain TouTiao.com.

VOTE

Fund.com was reported sold for $10 million in 2008 and is back on the market. Andrew Allemann said in his article that he thinks this $10 million transaction questionable. We started a vote yesterday on our wechat handle Domaincom to help us get Chinese domainers ideas over fund.com’s value. In China, licai.com, daikuan.com and touzi.com are all of high value having similar meanings with fund.com. Almost 130 people participated in this vote, among them, some think fund.com worths more than $10 million, others don’t think it worths so much maybe due to language difference. Anyway, we just did it for fun, don’t take the statistic too serious. Here is the result.

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