After completing the docking with Alibaba’s Tmall store, Ali Health, RT-Mart, Freshhema and other commercial entities, Ele.me announced that it had completed the entrance docking with Hellobike.
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.
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.
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.
Chinese on-demand local services firm is expanding its offline presence with two more supermarkets in Wuxi city in Jiangsu province.
Shanghai-based technology, media, telecom (TMT) focused venture capital Panda Capital announced that it has completed raising RMB700 million (US$105 million), making this its second RMB fund.
Xiaomi-backed online stock brokerage start-up Tiger Brokers announced that it has completed a US$80 million series C round from Prospect Avenue Capital (PAC), Orient Hontai Capital and Oceanpine Capital.
Joining the IPO rush by Chinese internet and technology startups, Toutiao – China’s biggest personalized news app’s parent Beijing Bytedance Telecommunications Co – is reportedly considering a Hong Kong IPO that may value it at over US$45 billion, according to a media report.
DragonBall Capital – venture capital fund of Chinese on-demand local services firm Meituan Dianping, announced that it has completed raising a total of RMB2 billion (US$301.66 million), exceeding the initial RMB1.5 billion target.
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 social media giant Tencent has proposed a spin off to its online music entertainment business Tencent Music Entertainment Group through an initial public offering in the United States.
Chinese tech companies are rushing to go public, as investor enthusiasm for hot tech stocks is believed to likely evaporate as global trade tensions and financial uncertainties cast shadows over initial stock offerings.
Chinese social media-based e-commerce firm Pinduoduo is said to seek for an initial public offering in the U.S. with a valuation of US$30 billion, according to Chinese local media citing insiders.
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.
Chinese on-demand local services firm Meituan Dianping has field for an initial public offering in Hong Kong via submitting an IPO prospectus.
Alibaba’s financial services unit Ant Financial has invested RMB2.06 billion (US$321 million) in bike sharing firm Hellobike, valuing the latter at US$1.47 billion and giving birth to a new unicorn company in China, according to Shanghai-listed Yonou Bike’s security filing.
CarBlock, a Chinese blockchain transportation solutions provider, announced that it has raised a new round of financing from blockchain investment firm Consensus Lab.
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.
Chinese venture capital firm Banyan Capital has announced today that it will change its English name to Gaorong Capital, in an effort to better connect with Chinese entrepreneurs.
China’s early-stage venture capital firm Sky9 Capital said on Wednesday that it has closed a US$200 million early-stage fund, called the Sky9Capital Fund III, L.P., according to the company’s official WeChat account.
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.
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.
Alibaba Group Holding has joined Chinese travel service provider Ctrip.com International, Ltd. to invest RMB400 million (US$63 million) in a series D1 round of financing in Meiweibuyongdeng, a mobile app that helps restaurants better manage their bookings and customer wait times.
Sky9 Capital, a venture capital firm founded by a former partner at Lightspeed Venture Partners, announced today that it has completed the final closing of a new fund with total commitments of US$200 million.
Chinese tea shop chain HeyTea has completed a RMB400 million (US$63.3 million) series B funding round, led by DragonBall Capital, a venture capital firm under Chinese group buying and delivery website 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.
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.
Chinese venture capital firm Qiming Venture Partners has announced the closing of three new funds totaling US$1.39 billion.
Chinese bike sharing firm Hellobike has raised a new financing round of US$700 million from existing investors including Ant Financial and Fosun Group, as well as seven new investors, according to Chinese local media.