After years of explosive growth, China’s vast sharing economy is entering consolidation mode. The latest merger news comes from Chinese Uber-like truck logistics leaders Yumanman and Huochebang, both valued at US$1 billion on China Money Network’s China Unicorn Ranking. The deal may herald more mega-mergers in the sharing space due to intense competition and overlapping business… Continue reading China’s Uber-Like Trucking Unicorns Merge As Sharing Economy Consolidates
Author: China Money Network Online News
China’s Used Car Deals Speed Up As Didi Chuxing Invests $200M In Renrenche.com
Didi Chuxing has bought US$200 million worth of shares in Beijing-based second-hand car marketplace Renrenche.com in a strategic investment, marking the latest investment deal in China’s fast moving online used-car market, according to Didi’s announcement. The funding is a boost for Renrenche, as its three top competitors have each raised money recently. Uxin Group, Guazi.com… Continue reading China’s Used Car Deals Speed Up As Didi Chuxing Invests $200M In Renrenche.com
Chinese Bike Rental Firm Youon’s Subsidiary Raises $123M From Ant Financial And Others
Chinese bike rental company Youon Bike said one of its subsidiaries has agreed to raise RMB810 million (US$123 million) from eight investors including a unit of Ant Financial. The proceeds will be used to finance its wholly-owned subsidiary Jiangsu Yonganxing Low Carbon Technology Co. to further expand in the GPS-powered station-less bike sharing operations, according… Continue reading Chinese Bike Rental Firm Youon’s Subsidiary Raises $123M From Ant Financial And Others
Chinese Bike Sharing Firms Lose Revenue Stream As Beijing Bans Advertisements
In a blow to China’s cash-burning bike sharing companies, the city of Beijing has banned commercial advertisement on bicycles deployed in the city, according to regulatory guidance released last week. The move is a setback for China’s numerous bike sharing start-ups, including market leaders Mobike and ofo, as the companies and their investors had looked… Continue reading Chinese Bike Sharing Firms Lose Revenue Stream As Beijing Bans Advertisements
Chinese Bike Sharing Firms Youon and Hellobike Merge to Compete Against Industry Giants
Chinese bike rental firm Youon Bike which is listed on the Shanghai Stock Exchange, has agreed to merge with rival Hellobike in order to better compete against industry giants ofo and Mobike. No financial details were disclosed in a company announcement. It marks the first merger deal in China’s hyper-competitive bike sharing industry. This June,… Continue reading Chinese Bike Sharing Firms Youon and Hellobike Merge to Compete Against Industry Giants
Chinese Bike Sharing Firm Ofo Partners With SoftBank C&S To Expand Into Japan
Chinese bike sharing company ofo and Japan’s SoftBank Commerce & Services Corp. have reached a basic agreement to collaborate on the deployment of ofo’s global bike sharing business in Japan. It is unclear if SoftBank Commerce & Services Corp., a unit owned by Brightstar, which is part of a family of companies within Softbank Group,… Continue reading Chinese Bike Sharing Firm Ofo Partners With SoftBank C&S To Expand Into Japan
Mobike’s First Day Explains The Power Of Bike Sharing In China
Whenever I see a small company having a startling large impact on the world, I look for an engine. I look for something that is amplifying what a relatively small number of people are doing. For example, the engine that rocketed Facebook (and Wechat) upwards was the economics and psychology of social media (plus viral… Continue reading Mobike’s First Day Explains The Power Of Bike Sharing In China
Chinese Bike Sharing Firm Ofo Launches In U.S. With Seattle Debut
Chinese bike sharing firm ofo rode into North America yesterday with a debut in Seattle, as the company expands globally in tight competition with rival Mobike. The US$2 billion start-up said it received a permit from the Seattle Department of Transportation to deploy 1,000 bikes on the city’s streets in August as part of a… Continue reading Chinese Bike Sharing Firm Ofo Launches In U.S. With Seattle Debut
Bike Sharing As Ad Platform Is Here: Mobike Partners With Disney To Promote Sales
The much anticipated use of shared bikes as advertising platforms is here: Mobike has partnered with Shanghai Disney to promote deals at the amusement park’s official store in the city. As part of the agreement, the Shanghai-based bike sharing pioneer, valued at US$2 billion, has placed a small number of Micky and Minnie Mouse-themed bikes… Continue reading Bike Sharing As Ad Platform Is Here: Mobike Partners With Disney To Promote Sales
Alibaba Joins $9M Round In Hong Kong Bike Sharing Firm Gobee.bike
U.S.-based smart hardware focused venture capital firm Grishin Robotics has led a US$9 million series A round in Gobee.bike, a Hong Kong-based bike sharing start-up. Alibaba Entrepreneurs Fund, a non-profit initiative of Alibaba Group Holdings Ltd., also participated in the round, according to a company announcement. Last month, Alibaba led a US$700 million series E… Continue reading Alibaba Joins $9M Round In Hong Kong Bike Sharing Firm Gobee.bike