China’s largest ride hailing firm Didi Chuxing has established a new artificial intelligence lab in Beijing to support its development on smart transportation technology. The lab, led by Didi’s vice president Ye Jieping, will focus on the AI sector including machine learning, natural language processing, speech recognition, machine vision, operations research and statistics to build… Continue reading Chinese Ride Hailing Firm Didi Sets Up AI Lab To Further Smart Transportation Research
Author: China Money Network Online News
Didi Chuxing’s Bluegogo Bikes Banned In Shenzhen Due To Unpaid Debts
The government of Shenzhen has banned the deployment in its city of bikes by Bluegogo, the bike sharing start-up controlled by China’s largest ride sharing firm Didi Chuxing, citing problems with bad debts. The announcement comes just two weeks after Didi formed a partnership with Bluegogo and started to integrate the services of the collapsing… Continue reading Didi Chuxing’s Bluegogo Bikes Banned In Shenzhen Due To Unpaid Debts
Geely-backed Chinese Ride-Sharing Firm Caocao Zhuanche Raises $156M Series A Round At $1.6B Valuation
Caocao Zhuanche, an electric vehicle sharing company backed by Chinese automaker Geely, has completed a RMB1 billion (US$156 million) series A round from various investors, at a valuation of over RMB10 billion (US$1.6 billion), according to its official Weibo account. The identity of investors in the round was not disclosed. Launched in 2015, Hangzhou-based Caocao… Continue reading Geely-backed Chinese Ride-Sharing Firm Caocao Zhuanche Raises $156M Series A Round At $1.6B Valuation
Alibaba Said To Buy $3B Stakes In Chinese Bike Sharing Firm Ofo From GSR
Chinese tech giant Alibaba Group Holding Ltd. is reported to have bought a US$3 billion stake in bike sharing firm ofo from GSR Ventures. According to multiple Chinese media reports, Ou Chengxiao, brother-in-law of GSR’s managing partner Allen Zhu, stated in an open course he teaches that GSR sold its entire stake in ofo to… Continue reading Alibaba Said To Buy $3B Stakes In Chinese Bike Sharing Firm Ofo From GSR
China Car-Sharing Giant Didi Chuxing Cooperates With Bluegogo To Launch Massive Bike-Sharing Platform
China’s fractured bike sharing industry just became more complex as car ride sharing giant Didi Chuxing announced the launch of a comprehensive bike-sharing platform. Under the plan, Didi’s car sharing app will integrate the services of Bluegogo, as well as bike sharing giant ofo and potentially other bike-sharing partners. It will also include a DiDi… Continue reading China Car-Sharing Giant Didi Chuxing Cooperates With Bluegogo To Launch Massive Bike-Sharing Platform
China Car-Sharing Giant Didi Chuxing Buys Bluegogo To Launch Massive Bike-Sharing Platform
China’s fractured bike sharing industry just became more complex as car ride sharing giant Didi Chuxing announced the launch of a comprehensive bike-sharing platform. Under the plan, Didi’s car sharing app will integrate the services of its newly acquired bike sharing firm Bluegogo, as well as bike sharing giant ofo and potentially other bike-sharing partners.… Continue reading China Car-Sharing Giant Didi Chuxing Buys Bluegogo To Launch Massive Bike-Sharing Platform
China’s FAW Car Buys 10% Stake In Mobike’s Car-sharing Unit Mobike Chuxing
FAW Car Co Ltd., a Shenzhen Stock Exchange-listed passenger car maker will take a 10% stake in bike-sharing firm Mobike’s new car-sharing unit Mobike Chuxing Technology Co, according to a securities filing by FAW. Mobike’s venture in to car sharing could place it in direct competition with China’s largest ride sharing firm Didi Chuxing. The value of… Continue reading China’s FAW Car Buys 10% Stake In Mobike’s Car-sharing Unit Mobike Chuxing
China’s Didi Rumored To Buy Failed Bike Sharing Firm Bluegogo As Didi-Ofo Relations Worsen
China’s largest ride sharing firm Didi Chuxing has reportedly acquired collapsed bike sharing firm Bluegogo and is incubating an internal bike sharing brand, as Didi’s relationship with Chinese bike sharing leader ofo worsens. The Didi-ofo alliance appears on the verge of collapsing, Chinese media reported citing insiders with knowledge of the situation. Didi, which reportedly… Continue reading China’s Didi Rumored To Buy Failed Bike Sharing Firm Bluegogo As Didi-Ofo Relations Worsen
Mobike-Ofo Merger Unlikely As Alibaba, Tencent Battle For Bike Sharing Dominance
To merge or not to merge? This is a question now beyond the control of the two companies most expected to combine in China at the moment: bike sharing unicorns Mobike and ofo. That is because their respective ultimate backers, Tencent Holdings Ltd. and Alibaba Group, both want to dominate the industry believed to shape… Continue reading Mobike-Ofo Merger Unlikely As Alibaba, Tencent Battle For Bike Sharing Dominance
Matrix Partners China Reveals Biggest Investment Mistakes And Lessons Learned
Matrix Partners China, a joint venture fund between U.S. venture capital firm Matrix Partners and its Chinese partners, has revealed its biggest investment mistakes and lessons learned since being founded in 2008, offering insights into how even the smartest investors can miss great opportunities. Matrix China and its founding managing partner David Zhang, also known… Continue reading Matrix Partners China Reveals Biggest Investment Mistakes And Lessons Learned