China

Operating expenses rose as Youdao was caught in intense competition in China’s online education sector.

The company, which was founded only recently, is already a unicorn.

Li Auto’s footprint in China’s EV market continues to expand amidst fierce competition with domestic rivals Nio and Xpeng Motors.

Up to 40% of the fund will be allocated to startups in SEA and China.

“We are in the right place at the right time to increase our leadership in China’s large video-based market,” says CEO.

This is a snippet of China Venture Roundup Volume 24, covering China’s investment activity from February 15 – 21 2021.

Douyin stagnated at the pre-holiday level of about 600 million DAUs.

ByteDance has increasingly threatened e-commerce platforms such as Alibaba, JD.com, and Pinduoduo as shoppers crave interactive video content and livestreaming.