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.
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 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.
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.
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 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.
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.
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.
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.
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.
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 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.
Chinese ride-hailing service provider Didi Chuxing said today it will invest US$1 billion into its auto solutions platform Xiaoju Automobile Solutions Co.
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 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, 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 China has led a RMB120 million (US$17.7 million) series A+ round in Beijing-based marketing firm Tikin Media.
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.
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.
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.