Chinese private equity firm GSR Ventures, an early backer of the country’s ride-hailing giant Didi Chuxing, has closed a new US$400 million fund to invest in technology start-ups.
GGV Capital Receives $80M Commitment From US Pension Fund SFERS
Cross-border venture capital firm GGV Capital has received US$80 million commitment from the US public pension San Francisco City & County Employees’ Retirement System (SFERS).
China Renaissance Seeks Up to $377M In Hong Kong IPO
China Renaissance Holdings Ltd., the Chinese investment bank advising some of the most high-profile technology mergers and acquisitions in the country, seeks to raise up to HK$2.96 billion (US$377 million) through a Hong Kong initial public offering.
MindWorks Ventures’ David Chang: As Peers Merge, Lalamove Will Remain Independent
Hong Kong-based logistics start-up Lalamove will remain independent as the industry consolidates around it. The Uber-for-logistics company’s objective is to strive for an initial public offering on its own sometime soon.
Tencent Comics "Blood Idol" Celebrates its Debut in Times Square
NEW YORK, Aug. 31, 2018 /PRNewswire/ — On August 30th, Tencent Comics featured its new Chinese comic book "Blood Idol" on 13 huge screens at the Times Square in New York. The unprecedented move also celebrat…
Chinese Live Streaming Platforms Ban Ride-hailing Drivers Broadcasting For Passenger Security
Chinese online streaming video platforms have commenced crack down on ride-hailing drivers, who stream passengers without their consent, following the murder of Didi’s second female passenger.
Didi Suffers Another Passenger Murder, Casting Dark Clouds Over Ride Hailing Giant On Safety Risks
Just three months after a 21-year-old stewardess was murdered during a ride in Zhengzhou, another female passenger who also used Didi Hitch was killed on August 24th in Wenzhou. The incident casts greater uncertainties to China’s ride-hailing giant as it reportedly seeks an IPO this year to be valued at as much as US$80 billion.
SoftBank Vision Fund Helps ZhongAn Insurance To Go International
China’s first Internet-based insurer ZhongAn Online P&C Insurance Co., Ltd. today announced that its subsidiary ZhongAn International and SoftBank Vision Fund have entered into a shareholder agreement to boost ZhongAn’s technology solutions businesses outside China.
GGV Capital Seeks To Raise Seven Funds Targeting $1.88 Billion
Venture capital firm GGV Capital is looking to raise seven new funds targeting total fundraising of US$1.88 billion, according to a security filing dated August 13.
Didi-backed Xiaoju Automobile Solutions Acquires Shanghai-based Auto Care Firm Hiservice
Xiaoju Automobile Solutions (XAS), a one-stop auto solutions platform owned by Didi Chuxing announced that it has acquired Hiservice, a leader in Shanghai’s online-to-offline auto after-service market.
Chinese News App’s Parent Bytedance Rumored To Raise $3 Billion
Beijing Bytedance Technology Co. has reportedly kicked off an equity-fundraising round that could value the owner of China’s most popular news-aggregation app at as much as US$75 billion.
Softbank’s Vision Fund To Invest $3B In Alibaba’s Food Delivery App Ele.me
SoftBank Group Corp.’s Vision Fund plans to lead an investment of US$3 billion to US$5 billion in Alibaba’s food delivery giant Ele.me, according to a Bloomberg report.
Didi Invests $1B In Its Auto Solution Platform Xiaoju Automobile Solutions
Chinese ride-hailing service provider Didi Chuxing said today it will invest US$1 billion into its auto solutions platform Xiaoju Automobile Solutions Co.
Ping An Capital Joins $2B Funding Round In Southeast Asia’s Ride-hailing Firm Grab
Didi-backed ride-hailing platform Grab Holdings Inc. (Grab) announced that it has raised US$2 billion for its current round of financing.
Alibaba’s Ele.me Rumored To Seek $3B In Fresh Capital To Finance Market Share Battle With Rivals
Alibaba’s food delivery service Ele.me is reportedly seeking a US$3 billion new funding round to finance an increasingly fierce market share battle with rival Meituan Dianping and new comer Didi Waimai, according to Chinese media reports citing insiders.
Ofo In Talks To Sell Itself At Discounted Prices After Suffering From A Slew Of Bad News
Ofo, one of the two largest Chinese bike rental firms in China, is near a deal to sell itself to Chinese ride hailing firm Didi Chuxing at a much discounted price after suffering a slew of bad news.
Sequoia Capital Leads $18M Series A+ Round In Marketing Firm Tikin Media
Sequoia Capital China has led a RMB120 million (US$17.7 million) series A+ round in Beijing-based marketing firm Tikin Media.
Hillhouse Capital Reportedly In Talks To Acquire Yum China
China’s Hillhouse Capital is reportedly in talks to buy Yum China Holdings, Inc., the operator of KFC and Pizza Hut, according to a media report.
China’s Ride-Hailing Giant Didi Chuxing Partners With SoftBank To Expand Operations In Japan
Didi Chuxing announced the launch of DiDi Mobility Japan Corp, a joint-venture with SoftBank, to offer on-demand taxi-hailing services and smart transportation solutions for citizens and tourists in the world’s third largest economy.
Didi Chuxing-backed Chinese Auto Transaction Service Platform Cango Files For $138M US IPO
Chinese online auto transaction service platform Cango Inc. has set its IPO price between US$10 to US$12, with 12.5 millions American depositary shares (ADS), aiming to raise US$138 million, according to its IPO prospectus.
Didi Chuxing Receives $500M Strategic Investment From Booking Holdings
China’s ride-hailing giant Didi Chuxing has received a US$500 million investment from NASDAQ-listed online accommodations and travel e-commerce firm Booking Holdings as a part of a strategic partnership.
Alibaba’s AutoNavi Map App Launches Ride-Hailing Aggregation Platform To Rival Didi
AutoNavi Software Co., Ltd., a Chinese mapping app acquired by Alibaba Group Holding Ltd. in 2014, has launched a ride-hailing aggregation platform to compete with Didi and other ride-hailing services in China.
Matrix Partners Leads Series A Round In Chinese Rocket Start-up iSpace
Chinese rocket start-up iSpace has completed a series A round led by Matrix Partners China, bringing its total financing to RMB600 million (US$90.4 million) in this year, according to Matrix Partners’ announcement on its official WeChat account.
China Renaissance, Investment Bank For New Generation Chinese Tech Firms, Files For HK IPO
China Renaissance, the investment bank that facilitated the growth of a new generation of Chinese tech firms, has filed for an initial public offering in Hong Kong, according to an IPO prospectus.
Kuaidi Dache Founder Names His Blockchain Ride Hailing App As VV Share
After announcing to launch a blocckchain-based ride hailing app, Kuaidi Dache founder Chen Weixing disclosed on a WeChat post that he and his partner are officially naming the planned app as VV Share Blockchain Platform.
Didi-backed Grab Receives $1B Investment From Toyota
Japanese automaker Toyota Motor Corporation has announced a US$1 billion investment in Grab Holdings Inc., a Singapore-based ride hailing company backed by China’s largest ride hailing firm Didi Chuxing.
Chinese Government Strengthens Ride-hailing Regulations In Wake Of Murder
Chinese ride-hailing companies are facing stricter regulations as China’s Ministry of Transport together with six other government bodies today released new rules governing the industry.
Binance Establishes $1B Fund To Invest In Blockchain Projects
Binance, a multi-language cryptocurrency exchange, announced plans to establish a US$1 billion fund, Ella Zhang, head of Binance Lab, announced in an online conference.
Didi Chuxing Participates In $175M Round In Estonian Ride-Hailing Unicorn Taxify
To further its global expansion to rival Uber, China’s largest ride-hailing operator Didi Chuxing has participated in a US$175 million round in Estonian ride-hailing start-up Taxify, valuing the company at US$1 billion.
Kuaidi Founder Weixing Chen To Launch Blockchain-Based Ride Hailing App In China
Weixing Chen, founder of Kuaidi Dache that merged with Didi to become the leading Chinese ride hailing company Didi Chuxing, is planning to launch a blockchain-based ride hailing app to rival current operators in safety and efficiency. Chen is teaming up with Yang Jun, a co-founder of Chinese on-demand local services firm Meituan, to launch the product. The ultimate aim is to create a platform that offers life-style services encompassing ride hailing, deliveries and others.
Didi Begins Safety Overhaul After Passenger Murder Shocked Nation
China’s largest ride-hailing firm Didi Chuxing has released a safety overhaul after it suspended its Didi Hitch service last week, following the murder of a female passenger that shocked the country.