Beijing-based bike sharing firm ofo, which raised US$130 million venture funding last month following a capital injection from Didi Chuxing, has expanded its operations to 22 cities in China and increased total bike count to 160,000. Mobike, backed by Hillhouse Capital, Warburg Pincus and others, entered its fifth city yesterday. Both companies are racing to… Continue reading Didi-Backed Bike Sharing Start-Up Ofo Expands To 22 Cities In China
Author: China Money Network Online News
New Chinese Bike Sharing Start-Up Raises $22M To Compete In Heated Market
After two Chinese bike sharing start-ups Ofo and Mobike raised a combined US$230 million in October, a third bike sharing company is joining the battleground. An investment unit of Shenzhen-listed chemicals and trading company Jiangsu Huaxicun Co., Ltd. has led a RMB150 million (US$22 million) series A funding round in Ubike, a new comer to… Continue reading New Chinese Bike Sharing Start-Up Raises $22M To Compete In Heated Market
Didi-Backed ofo Secures $130M Series C As Bike-Sharing Battle Leads To Predictable Ending
A week after bike sharing firm Mobike announced an over US$100 million fundraising, Beijing-based rival ofo said it had secured US$130 million series C financing round led by CITIC Private Equity, Coatue Management and Xiaomi Inc. The drama seems all too familiar: Two companies engaged in competitive fundraising, while trying to outbid each other on… Continue reading Didi-Backed ofo Secures $130M Series C As Bike-Sharing Battle Leads To Predictable Ending
Hillhouse Joins $100M Series C Round In Mobike As Bike Sharing Battle Heats Up
Shanghai-based bike sharing mobile app Mobike has raised over US$100 million in a new round of financing led by Hillhouse Capital and Warburg Pincus, a few days after Didi Chuxing invested tens of millions of U.S. dollars in rival start-up ofo, signaling the pair are ready to embark on an intensive battle to grab market… Continue reading Hillhouse Joins $100M Series C Round In Mobike As Bike Sharing Battle Heats Up
Didi Chuxing Invests In Chinese Bike Sharing Start-Up Ofo
Didi Chuxing has invested tens of millions of U.S. dollars in ofo, an urban bicycle sharing platform, to expand the Chinese ride share giant’s operations into the so-called last mile mobility space. As part the investment, DiDi plans to include ofo bike sharing offerings on its own mobile apps. The two companies did not disclose… Continue reading Didi Chuxing Invests In Chinese Bike Sharing Start-Up Ofo
Panda Capital Leads $10M Series B Round In Mobile
Panda Capital has led a US$10 million series B round in Mobike, a Shanghai-based mobile app that allows users to rent bikes for short distance commute, according to Chinese media reports. Joy Capital also participated in the round. Launched in December 2015, Mobike operates its own bike fleet equipped with self developed smart lock and… Continue reading Panda Capital Leads $10M Series B Round In Mobile
In Shanghai, A Bike-Sharing Start-Up Discovers Users Don’t Want To Share
Mobike, a Shanghai bike sharing start-up founded by a former Uber manager in the Chinese city, is discovering that some Chinese users like to ride the bike but don’t want to share with others. The company’s mobile app allows users to find the closest bikes, then by scanning a QR code on the bike to… Continue reading In Shanghai, A Bike-Sharing Start-Up Discovers Users Don’t Want To Share
Didi And Uber China Ink Landmark Deal To Merge Operations In China
In a landmark deal, Chinese ride share giant Didi Chuxing has agreed to acquire all assets of Uber China, including its brand, business operations and data for operation within China, according to a company announcement. In exchange for the Uber China assets, Uber will receive 5.89% of the combined company with preferred equity interest which… Continue reading Didi And Uber China Ink Landmark Deal To Merge Operations In China
Poly Group Invests $400M As Part Of Didi’s New Funding Round
Chinese state-owned real estate conglomerate Poly Group has invested US$400 million in Didi Chuxing as the country’s largest ride share company’s latest US$7.3 billion financing round announced last week. Poly, which invested through two vehicles managed by Poly Capital Management, will in turn obtain a 1.45% of Didi Chuxing at a valuation of over US$27.6… Continue reading Poly Group Invests $400M As Part Of Didi’s New Funding Round
China Life Insurance To Invest $600M In Didi Chuxing
China’s largest ride share company Didi Chuxing has received a US$600 million investment from China Life Insurance Co. Ltd., following a US$1 billion injection from Apple Inc and a US$400 million infusion from Alibaba Group Holdings Ltd. and its Internet finance unit Ant Financial last month. According to Tencent Technology citing a company announcement, China… Continue reading China Life Insurance To Invest $600M In Didi Chuxing