AI Top 50 2018 – 970×90 CN


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 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.

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.

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 …

China’s Didi Chuxing To Acquire Payment Firm 19Pay In Bid To Rival Tech Giants BAT

China’s largest ride hailing firm Didi Chuxing, which ranks as the second most valuable company on China Money Network’s China Unicorn Ranking, has agreed to fully acquire third-party payment firm 19Pay for RMB300 million (US$45 million), in a move to develop its own payment services, putting itself in direct competition to Chinese tech giants BAT.