Consumers in China’s largest cities purchased $1 billion in agricultural products from Pinduoduo, a group-buying e-commerce platform, between June 1 and June 12 – or 70 percent of total revenues – up 310 percent over the same period last year. Founded in Shanghai in 2015, Pinduoduo is now shifting its focus away from smaller Chinese cities to meet the demands of more affluent consumers in larger so-called “first- and second-tier” cities. The company now has 444.3 million monthly active users. IDG Capital joined Pinduoduo's Series B funding round in 2016. Pinduoduo went public on Nasdaq in 2018 with a valuation of $24 billion.

Coinbase, a San Francisco-based cryptocurrency trading platform, will offer Visa debit cards to users in six more European countries – Spain, Germany, France, Italy, Ireland and the Netherlands. Customers can now spend their Coinbase cryptocurrencies online there, in addition to the United Kingdom. IDG Capital was an angel investor in Coinbase in 2013. 

Brian Gu, the VP and President of the electric vehicle startup Xpeng Motors, said that industry-wide subsidy cuts by the Chinese government will more deeply impact competitors and also help accelerate the Xpeng’s drive towards innovation. In the CNBC interview, Gu also said that Xpeng will expand into the ride-hailing sector. IDG Capital co-led Xpeng's $348 million Series B round in 2018.

Shuidi, a Beijing-based healthcare technology provider, completed a $144.5 million Series C financing round. Founded in 2016, Shuidi has raised more than $218 million in the last three months, setting a new funding record for China’s online insurance industry. In March, IDG Capital joined the firm’s $74 million Series B funding round. Shuidi operates Shuidihuzhu, a mutual assistance platform; Shuidichou, a zero-commission patient-centered crowdfunding platform; and Shuidi Insurance Mall, an insurance distribution platform offering 80 different insurance products from 60 Chinese insurers.

Norway-based web browser Opera announced the launch of Opera GX, a web browser with features designed specifically for gamers. With the new browser, gamers will  be able to play more sophisticated games, Opera said, with no negative impact on the performance of its companion main browser. Founded in 1995, Opera currently has 65 million users worldwide. The company went public on Nasdaq in 2018, raising $115 million. IDG Capital joined Opera’s pre-IPO financing round.

Mei Gao, a New York City-based IDG Capital partner, believes there are still excellent investment opportunities in China for U.S. and other overseas businesses. “China has the best infrastructure,” Guo told a panel discussion about Sino-American trade at the 2019 Penn Wharton China Summit in Philadelphia. “Its consumers are very ready to embrace new technology.” China, she said, is also “already the global manufacturing hub, and it has a great supply chain.” Founded in 1992, IDG Capital has made more than 750 investments in the U.S., Europe and Asia, including more than 170 exits, and it currently has more than $20 billion in accumulated assets under management.

Coinbase, a San Francisco-based cryptocurrency trading platform, generated an estimated $520 million in global revenues in 2018, according to Reuters. The news agency reported that it based its estimate on recent Coinbase’s filings with the U.K.’s corporate registry. Coinbase’s submission also indicated that its U.K. revenue grew 20% in 2018 to $173 million. IDG Capital was an angel investor in Coinbase in 2013.

Acne Studios, a global fashion retailer based in Sweden, has reopened a Tokyo concept store with a new collection of leather accessories. Founded in 1996, the fashion brand started as a niche supplier of denim wear but has since grown into a diversified upscale brand with more than 50 stores in 13 countries. IDG Capital acquired 30.1% of Acne Studios in 2018.

Anker, a multinational consumer electronics manufacturer with operations in U.S., Japan and Germany, recently unveiled a two-port car charger with a built-in Google Assistant function. Anker’s Android-compatible charger allows users to activate Google Assistant through voice commands. The company said it is also developing a beta model for iPhone users. IDG Capital led a $47 million funding in Anker in 2016.

IDG Capital was among the five most active venture capital firms worldwide in Q1, according to a 2019 CB Insights and PwC report on the global VC funds. U.S.-based and with offices in China, Korea and Vietnam, IDG Capital also remains a very active investor in Asia, even though the region saw a 12% decline in  Q1 venture capital funding versus Q4 2018. According to the CB Insights-PwC report, privately held companies in Asia raised $18 billion in Q1, involving 1,128 deal transactions.

Xpeng Motors, a Guangzhou-based electric car maker, unveiled a four-door coupe at Auto Shanghai 2019 – its second mass-market model aimed at China’s next generation of car buyers. The company said the new electric vehicle represents a crucial step in Xpeng’s growth plan, as it wraps up its latest B+ funding round. IDG Capital co-led Xpeng's $348 million Series B round in 2018.

KuCoin, a Singapore-based cryptocurrency exchange, will now enable traders in selected countries outside the U.S. to control their accounts trading on centralized exchanges using private keys. Traders, however, must first register for a special verified KuCoin account. IDG Capital co- led KuCoin's $20 million Series A round in November 2018.

Aicha Evans, the new CEO of the California-based driverless car startup Zoox, joins Business Insider's NEW list of the “Top 100 people Transforming the World of Business.” Zoox plans to launch an autonomous ride-hailing service by 2020. Evans, a former Intel exec, said her key priority now is to prepare Zoox for the product launch, while at the same time ensuring that the firm’s autonomous driving technology is safe to deploy. IDG Capital joined Zoox's Series A funding round in 2016.

Pony.ai, an autonomous driving startup based in China and Silicon Valley, received $50 million from Kunlun, a Shanghai-listed technology company, in exchange for a 3 percent stake. The latest investment is part of Pony.ai’s pre-B financing round. The firm is now valued it at nearly $1 billion. IDG Capital was a seed investor in Pony.ai and also joined the company’s initial $112 million Series A funding round in January.

Bilibili, China's leading online video platform, raised $872.6 million in convertible bonds and American dollar depository shares (ADSs) as it expands into the global capital equity market. Bilibili first went public on NASDAQ in 2018 and is now valued at more than $3 billion. Since its initial public offering, Bilibili’s stock price has surged more than 70%. IDG Capital led Bilibili's Series A funding round in 2017 and also joined its A+ and B rounds.

IDG Capital co-led a Series C fundraising round in Liquid Group Inc., a Tokyo-based crypto-currency trading platform. Liquid says that it is now valued at more than $1 billion – making it one Japan’s rare unicorns. Since its launch in 2014, Liquid, previously known as Quoine, has processed more than $50 billion in cumulative crypto trading, due in part to a highly coveted crypto-exchange license issued by the Japanese government. Liquid said it will use the proceeds from its latest Series C round for global expansion