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
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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
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
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
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
Bentley Bentayga V8 2018 review
Following the launch of W12 petrol and V8 diesel engines, this is the third and perhaps the most convincing powerplant to feature in Bentley’s monumentally capable Bentayga SUV. It’s a 4.0-litre, 90-degree V8 with its two twin-scroll turbochargers sitting within the vee of the cylinders. You’ll find it also in the Porsche Cayenne Turbo, and… Continue reading Bentley Bentayga V8 2018 review
New Ferrari Portofino 2018 review
It might not have been the most revered car in Ferrari’s line-up, nor the fastest, but the V8-engined California T was still an exceedingly desirable sports car all the same. Now Ferrari has improved its front-engined, rear-wheel-drive roadster, giving it a new name 10 years after the original California T was first seen. Welcome to the all-new £166,180, 199mph Ferrari Portofino.… Continue reading New Ferrari Portofino 2018 review