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China Roundup: Xis power on bitcoin, the rise of Alibabas new rival

Welcome back to TechCrunch’s China roundup, a digest of the latest events that happened at major Chinese tech companies and what they mean to tech founders and executives around the world. Alibaba’s nemesis Alibaba’s new rival is shaking up China’s internet landscape. This week, four-year-old e-commerce upstart Pinduoduo displaced JD.com to be the fourth-most valuable internet company in the country. Its market capitalization of $47.6 billion on Friday put it just behind e-commerce leader Alibaba, social networking behemoth Tencent and food delivery titan Meituan in China. Baidu, the search equivalent…

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Alibaba to help Salesforce localize and sell in China

Salesforce, the 20-year-old leader in customer relationship management (CRM) tools, is making a foray into Asia by working with one of the country’s largest tech firms, Alibaba. Alibaba will be the exclusive provider of Salesforce to enterprise customers in mainland China, Hong Kong, Macau and Taiwan, and Salesforce will become the exclusive enterprise CRM software suite sold by Alibaba, the companies announced on Thursday. The Chinese internet has for years been dominated by consumer-facing services such as Tencent’s WeChat messenger and Alibaba’s Taobao marketplace, but enterprise software is starting to garner…

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Chinese AI startup Tianrang raises a $26M funding round, launches new project to apply ML to cities

Chinese AI startup Tianrang has raised a $26 million (RMB180 million) funding round from China’s Gaorong Capital and co-lead CMB International Capital. Other investors included Ziniu Fund and Chinese fintech company Wacai. In 2016, the company raised an angel round led by Gaorong Capital and participated in by Shanghai Jindi Investment Management Ltd. Based on deep learning and other AI technology, Tianrang provides data analysis and smart solutions for enterprises. It was founded by in 2016 by Xu Guirong, former director of Alibaba’s Ali Cloud and chief scientist at Alibaba’s…

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Yahoo SVP Adam Cahan to exit after Verizon acquisition closes

Another high-profile Yahoo executive, SVP of Mobile and Emerging Products Adam Cahan, will leave the company as the acquisition by VerizOath: comes to a close. This news via multiple sources comes amid cuts of as much as 15 percentof the combined Oath/Yahoo staff. TechCrunch is owned by Oath: which is owned by Verizon which bought Yahoo and is smushing it together with Oath: creating overlaps in jobs, hence the cuts. Were fine, thanks for asking. Earlier today we reported that CISO Bob Lord would also be departing.We reached out to…

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