Tencent, Warburg Lead $215M Series D Round In China’s Mobike

Chinese Internet giant Tencent Holdings Ltd. and Warburg Pincus have led a US$215 million series D funding round in Mobike, a Chinese smart bike-sharing company. New strategic investors including China’s largest travel company Ctrip, TPG, and Chinese hotel operator Huazhu Hotels Group, as well as existing investors Sequoia Capital China and Hillhouse Capital also participated.

Black Hole Capital Leads $58M Round In Chinese Bike Sharing Firm Bluegogo

Beijing-based Black Hole Capital, a venture firm founded by Zhang Liang, the son of Chinese property giant R&F Properties’ co-founder Zhang Li, has led a RMB400 million (US$58 million) new funding round in Bluegogo, a Tianjin-based bike sharing company, according to Chinese media reports. Smart Xintong, a Shenzhen-based healthcare equipment developer, also participated in the round, which valued Bluegogo at RMB1 billion (US$140 million) post-money. Founded in November 2016, Bluegogo currently operates in five cities, including Shenzhen, Guangdong, Chengdu, Nanjing …

Ant Financial, IDG Invest In Chinese Bike Sharing Company Youon Bike

Ant Financial, the financial services affiliate of Alibaba Group Holding Ltd., has teamed up with Chinese venture firm IDG Capital and Shenzhen Capital Group Co., Ltd to invest in a series A financing round in Youon Bike, a Jiangsu province-based bike sharing company, according to Chinese media reports. No financial details were disclosed. Founded in 2010, Youno claims that it has deployed over 800,000 bikes in 210 cities in China and has over 16 million users. The company has partnered …

Shanghai Puts Breaks on Bike Share Frenzy, Asks Mobike, Ofo To Temporarily Halt Bike Placement

The Shanghai government has asked six bike sharing companies including Mobike and ofo to temporarily suspend bike placement in the city’s central districts, saying shared bikes have reached saturation point in those areas. The move may put the breaks on a venture capital-fueled bike sharing frenzy taking place in China. It also highlights regulatory risks faced by Chinese start-ups.

Chinese Bike Sharing Company Youon Bike Makes Second Bid for Shanghai IPO

Jiangsu province-based bike sharing company Youon Bike is making another try for an initial public offering on the Shanghai Stock Exchange, seeking to raise RMB598 million (US$86 million) by issuing 24 million shares. An earlier application was rejected in 2015. Founded in 2010, Youon Bike received an undisclosed amount of money from Ant Financial, the financial services affiliate of Alibaba Group Holding Ltd., and IDG Capital. However, Youon plans to end the funding, according to its IPO prospectus. The company …

Chinese Bike Sharing Company Ofo Says It’s Worth $2 Billion

Beijing-based bike sharing company ofo is now worth more than US$2 billion, CEO Dai Wei claimed during a media interview. The valuation is about double the company’s estimated worth only 40 days ago when it raised a US$450 million round with a valuation of just over US$1 billion.

Are China’s Sharing Start-Ups Playing With Fire Using Customers’ Money?

China’s mushrooming bike sharing companies have aggregated RMB6 billion (US$872 million) or more in user deposits, according to industry observers. These deposits, growing everyday and currently existing in a regulatory vacuum, may be partially used for high-yielding investments and in turn present massive financial risks to consumers.

Chinese Bike Sharing Firm Mobike Says It Is Worth Billions Of USD

Chinese bike sharing company Mobike is now worth billions of U.S. dollars, the company’s CEO Davis Wang said during an interview with media. The company became a "unicorn" in January after it completed a US$215 million series C round from Tencent Holdings Ltd. and Warburg Pincus at a valuation of over US$1 billion. Last month, Mobike’s biggest competitor ofo announced that its valuation had reached US$2 billion, which is about double the company’s estimated worth in March when it raised …

Chinese Bike Rental Firm Mobike Launches Services In The UK

Shanghai-based smart bike rental firm Mobike today announced it will launch its service in the British cities of Manchester and Salford later this month, marking the multi-billion dollar start-up’s first operation outside of Asia and the beginning of further expansion in Europe.

Mobike To Expand Bike Rental Services To Japan

Leading Chinese bike-sharing company Mobike says it has established a Japanese subsidiary, Mobike Japan Ltd., in Fukuoka city, with plans to begin services in that city later this year. The move comes after the company expanded into Singapore in March and announced plans to launch services in the U.K. later this month.

Ofo Partners With Payment Service Adyen For Global Expansion

Chinese station-free bike sharing platform ofo today announced a global partnership with Adyen, a Netherlands-based multichannel payment company. The collaboration will allow customers around the world to pay for ofo’s rental bikes using their preferred currencies and payment methods.