Iconic American Companies Owned by Chinese Investors

PankajOctober 17, 2023

30. Motorola Mobility Holdings Inc

Headquarters: Chicago, Illinois
Bought By: Lenovo Group Ltd
Headquarters: Quarry Bay, Hong Kong

Motorola Mobility was formed in 2011 after Motorola split into two different companies. Mobility took control of the consumer electronics side of things, while Motorola Solutions focused on other aspects of the business. In 2012, Google bought Motorola Mobility for $12.5 billion.
Motorola Mobility Holdings Inc ©testing / Shutterstock.com
However, they didn’t stick around for long. Google sold ownership to Lenovo in 2014 for much less than what they paid for it. Lenovo snapped up the company for just $2.91 billion, marking a loss of around $10 billion for Google. Since making the purchase, Lenovo has stopped making its own smartphones and concentrated on producing Motorola-branded ones

31. IMAX Corp

Headquarters: New York City, New York
Bought By: N/A
Headquarters: Shanghai, China

IMAX Corp, based in New York City, is a multinational corporation known for its advanced motion picture technologies, especially its proprietary large-format IMAX film standard. While not directly acquired by a Chinese company, IMAX has seen significant investment and partnership activity with Chinese entities. In 2015, IMAX China, a subsidiary of IMAX Corp, went public on the Hong Kong Stock Exchange, demonstrating China’s considerable interest in the immersive cinematic experience provided by IMAX.

The Chinese market has been crucial to IMAX’s global growth, and the company has forged partnerships with Chinese companies to open numerous IMAX theaters across the country. This activity reflects China’s efforts to expand its entertainment sector and bring advanced cinematic technologies to its increasingly affluent population.

32. Fab.com Inc

Headquarters: Manhattan, New York (formerly)
Bought By: Tencent Holdings Ltd and partners
Headquarters: Shenzhen, China

Being in the online design industry is tough as the competition out there is stiff. Once based in New York City, Fab.com managed to secure a huge investment from Tencent Holdings in 2013 worth around $1 billion. With Tencent, Fab hoped to launch platforms in Asia.

“It’s a way to enter markets through strategic partners who can help mitigate risk and will increase the likelihood of success,” said CEO Jason Goldberg. However, two years later in 2015 the company was bought by PCH International and relaunched as a wellness brand specializing in yoga gear.

33. California Grapes International Inc

Headquarters: San Jose, California (formerly)
Bought By: China Food Services Corp
Headquarters: Beijing, China

California Grapes International Inc was once a homegrown business, but that all changed when it was bought by China Food Services Corp. Once a company focused on distributing wine, California Grapes faded into obscurity after the purchase was made some years ago for an undisclosed amount.

China Food Services Corp describes itself as being “is engaged in marketing, distribution, and selling of food and beverages though-out Asia and the Middle East. It owns and operates Golden Dragon Food & Beverage Import & Export Company of Hong Kong, Ltd.” The company was founded in 1992.

34. Mochi Media Inc

Headquarters: San Francisco, United States (formerly)
Bought By: Shanda Games Ltd
Headquarters: Shanghai, China

At the peak of its success, Mochi Media was welcoming 140 million monthly users to its website to play a host of games. Rather than catering to the serious gamer, Mochi had many little bitesize activities for users to enjoy. It was owned by Shanda Games, founded by Chen Tianquao, Chrissy Luo, and Chen Danian.

Sadly, even with the backing of Shanda Games, Mochi couldn’t compete with the ever-changing market and began to close down in 2014. The website is no longer in operation, much to the chagrin of fans that loved what it had to offer.

35. LendingClub Corp

Headquarters: San Francisco, California
Bought By: Shanda Group
Headquarters: Singapore

Peer-to-peer lending company LendingClub is a leader in its field, but like any other big business, it’s had its ups and downs. In 2016, stock had plummeted. Chinese billionaire Chen Tianqiao thought it would be the perfect opportunity to make an investment.

As the head of the Shanda Group, Tianqiao decided to buy close to 12% of the company. In a released statement, Shanda said it was “positive on its long-term prospects as (LendingClub) continues to evolve and refine its business.” In total, the Chinese group spent over $148 million on 29 million LendingCulb shares.

36. Electrolux AB (Eureka Brand)

Headquarters: Medford, Mass.
Bought By: Midea Group
Headquarters: Beijiao town, Shunde District, Foshan, China

The Eureka Vacuum Cleaner Company was founded 111 years ago in Detroit, Michigan. As you might expect, the household appliance makers have undergone some drastic changes since then. Swedish company AB Electrolux bought the business in 1974, but manufacturing continued in the United States.

In 2016, Eureka was sold once more to the Midea Group, who took over production of the products. According to the website, Midea prides itself on “humanizing technology”, bringing in a revenue of $40.5 billion in the last financial year. It’s unclear how much the China-based company spent on acquiring the business.