Meituan Dianping Rumored To Buy Chinese Bike Sharing Firm Mobike For $3.7B

Chinese group-buying and location-based services firm Meituan Dianping is reportedly in talks to buy bike sharing firm Mobike for US$3.7 billion, according to Chinese media reports citing insiders. Both Meituan and Mobike did not respond inquiries from China Money Network to confirm the news. Insiders say that the two parties are likely to announce the deal soon, but the talks could still fall apart. Last month, Meituan was reportedly leading a new financing round in Mobike. Meituan is rumored to …

Hillhouse Capital Partner Jing Hong To Depart And Start Own Fund

Jing Hong (pictured), a partner at Chinese private equity and venture investment firm Hillhouse Capital, has reportedly left the company to start her own fund. This is the latest in a string of investment professionals leaving established firms to set up their own fund to tap into the booming private investment market in China.