eBay reportedly expects its Greater China sales in 2011 to increase by between 30% and 40%, and the company will seek opportunities to acquire new assets to increase its market share in China.

Tom Group has announced that it will invest HKD60 million to acquire the remaining 35% stake in its affiliate company Tom Outdoor Media Group from Singapore Press Holdings.

Wang Leilei, former CEO of Tom Online, will become chairman and CEO of struggling Chinese wireless value-added services firm KongZhong (KONG) from October 13, 2008 and the company's current CEO and chairman Zhou Yunfan will step down from the positions on the same day.

Tom Group says Wang Leilei has resigned his posts as vice president and executive director of Tom Group, CEO and director of Tom.com and director of Tom-eBay.

GigaMedia (GIGM) has hired Quincy Tang as the company's new chief financial officer, replacing Thomas Hui who has served as interim CFO since his promotion to president and chief operating officer in August 2007.

Hong Kong's TOM Group Limited, an amalgamation of various online and offline media entities, announced its interim results for the six months ended June 30, 2008.

According to foreign media, Joost, an American online video service provider, will cooperate with Tom Group to establish a joint venture in China and provide online video services to Chinese netizens.

Tom Group has secretly changed the layout of Tom.com in a design that has flavors of Facebook in both design style and functionality, a signal that the company may help bring Facebook to China — or compete with it.