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.
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.
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.
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.
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.
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, 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.
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.
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 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, 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.
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.
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.
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 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.
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 …
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.
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.
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 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.
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 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.
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.
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.
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.
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.
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.
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.
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.
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 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.