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.
DiDi Upgrades Premier Service
Introduces In-trip Consumer Services and Smart In-Vehicle System
BEIJING–(BUSINESS WIRE)–Didi Chuxing, the world’s leading mobile transportation platform, today
announced the rebrand of DiDi Premier, its premium personal mobility…
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.
BMW First Foreign Car Company To Win Chinese Self-driving License
BMW China Services Ltd. has received two self-driving road test licenses from Shanghai regulators, making it the first foreign automaker to gain such permits, according to the official website of Shanghai Municipal People’s Government.
China VC/Tech News Roundup: Didi Murder, Xiaomi Rice Cooker, And Canaan IPO
In this episode of China Money Podcast, listen to all the news headlines in the week of May 7-11, 2018 with host Nina Xiang, together with guest Shai Oster, the Asia bureau chief for The Information. Topics covered include the implications of a recent murder by a Didi driver who passed facial recognition to log into his father’s account to take orders, Xiaomi’s rice cooker maker raising a series C round (and of course Xiaomi’s upcoming IPO), and the planned …
Didi Suspends Hitch Service For A Week Following Murder Case
Chinese ride hailing giant DiDi said it will suspend its hitch service nationwide for a week for rectification, following a murder case earlier this week. The case comes at a time when Didi is reportedly planning an initial public offering this year or next, and is facing increasing competition from strong new players in China’s ride hailing market including Meituan Dianping and Ctrip.
Didi Chuxing Faces Government Warning After Passenger Murdered
China’s ride-hailing giant Didi Chuxing is facing a strong backlash from both government and media after a Didi driver in Zhengzhou was suspected of raping and murdering a female passenger earlier this week.
Former Tiger Global Partner Jason Tan Joins Jeneration Capital As CIO
Jason Tan (pictured), a former Tiger Global executive, has joined investment firm Jeneration Capital Management as partner and chief investment officer, the firm announced today.
China’s Didi Chuxing Teams Up With Volkswagen To Set Up Mobility Services Joint Venture
China’s largest ride-hailing provider Didi Chuxing is finalizing a deal with German automaker Volkswagen AG to set up a joint venture to develop mobility services in China.
GGV Capital Raises $236M For Its First RMB Fund
Venture capital firm GGV Capital has completed raising about RMB1.5 billion (US$236.3 million) for its debut RMB fund, according to an announcement on its official WeChat account.
Goldman Sachs Leads $300M Round In Chinese Online Used-Car Auction Platform Renrenche
Goldman Sachs has led a US$300 million new financing round in Chinese online used-car trading marketplace Renrenche, with existing investors Tencent Holdings Ltd. and Didi Chuxing participating, the company announced today.
Didi Chuxing Kicks Off Global Alliance for Car-sharing and "Purpose-Built" Vehicles
Chinese mobile car-hailing giant Didi Chuxing announced that is is teaming up with 31 global automobile makers to form the "DiDi Auto Alliance," an international car-sharing alliance, Didi announced in Beijing on Tuesday.
China’s Didi Chuxing Said Planning $80B IPO To Rival Meituan Dianping
Didi Chuxing is already a rival with Meituan Dianping in China’s increasingly crowded car ride-sharing and bike-sharing markets. Now they appear to be in a race to see who can launch an initial public offering first.
Softbank, China Reform Fund Co-lead $1.9B Round In Truck-hailing Firm Manbang
Chinese truck-hailing firm Manbang Group has completed a US$1.9 billion round led by Softbank Vision Fund and China Reform Fund, a private equity firm backed by China Reform Holdings Corporation Ltd and other central state-owned enterprises.
Didi Chuxing Cited For Operating Without Licenses Amid Tougher Competition
China’s largest ride-hailing firm Didi Chuxing was summoned by the Road Transport Management Bureau of Zhejiang Province and 11 city level transportation bureaus for operating without licenses in some cities, and was warned of unfair competition, according to a notice on China’s Ministry of Transport’s website.
Korea’s Mirae Reported Planning US$265M Investment In Didi Chuxing
South Korea’s Mirae Asset Financial Group plans to raise a 280 billion won (US$264.8 million) fund to invest in Chinese ride-hailing platform Didi Chuxing Technology Co., according to Korean media reports.
Meituan Confirms $3.7B Mobike Acquisition To Strengthen Its Mobility Offerings
Wang Xing, CEO of Chinese group-buying and location-based services firm Meituan Dianping, has confirmed Meituan’s acquisition of bike sharing firm Mobike in an internal letter reported by local media.
Cynthia Zhang: Toutiao Easily Worth More Than Tech Giant Baidu
At first glance, the investment strategy of veteran private equity manager Cynthia Zhang appears risky. As founder of recently launched private equity firm FutureX Capital, Zhang plans to make mid-to-late stage investments in promising Chinese tech stars, whose valuations are perhaps the highest in the world.
Ctrip Expands To Ride Hailing As Latest New Entrant To Crowded Sector
Chinese online travel service provider Ctrip.com International, Ltd. (NASDAQ: CTRP) has obtained a ride hailing license from Tianjin Municipal Transportation Commission to operate ride hailing business nationwide, the company said in an official statement.
Alibaba’s Mapping Unit AutoNavi Declares War On Didi Via Launch Of Carpooling Business
Alibaba’s mapping unit, AutoNavi Holdings Ltd. also known as Gaode Map, has launched its own carpooling business, starting in Chengdu and Wuhan initially with plans to roll out nationally.