Kakao Mobility, the ride-hailing subsidiary of South Korean messaging and internet giant Kakao, has made its first acquisition as it looks to raise its international profile. It has acquired Splyt, a startup out of London that works with apps in areas like travel, ride-hailing and finance to help them build out “super app” strategies by… Continue reading Kakao Mobility picks up ‘super app’ startup Splyt, once backed by SoftBank and Grab
Tag: Didi
Chinese ride-hailing firm Didi to step up a gear as regulators end probe
Chinese ride-hailing company Didi Global plans to expand services and offer more subsidies to passengers and drivers, it said on Thursday, looking to shore up its business in China following the end of a regulatory probe. The company will work with partners in the industry to offer more services and cover more cities, it said in an online statement posted on Thursday that cited a speech at… Continue reading Chinese ride-hailing firm Didi to step up a gear as regulators end probe
China Self-Driving Startup WeRide Files for $500 Million US IPO, Sources Say
(Bloomberg) — Chinese driverless technology startup Guangzhou WeRide Technology Co. has filed confidentially for an initial public offering in the US and is looking to raise as much as $500 million, according to people familiar with the situation. Most Read from Bloomberg The Guangzhou-based startup is working with advisers on a potential listing that could… Continue reading China Self-Driving Startup WeRide Files for $500 Million US IPO, Sources Say
China’s robotaxi upstart WeRide confidentially files for IPO
WeRide.ai, one of the most funded Chinese robotaxi operators, has confidentially filed to go public in the U.S., Bloomberg reported on Monday. The company declined to comment when reached by TechCrunch. China’s autonomous driving startups have been racking up hefty investments in the past few years to fuel their technology development and fleet deployment, which… Continue reading China’s robotaxi upstart WeRide confidentially files for IPO
China’s SAIC Motor sets up $574m fund to invest in new energy, auto, chipsThe new fund held its first close at almost $488m.
Chinese state-owned automaker SAIC Motor Corp is setting up a 4-billion-yuan ($574.2 million) fund in cooperation with a group of domestic companies to invest in the automobile ecosystem. The fund, which is managed by SAIC Motor’s private equity (PE) investment platform Shang Qi Capital, held its first close at almost 3.4 billion yuan ($488.1 million),… Continue reading China’s SAIC Motor sets up $574m fund to invest in new energy, auto, chipsThe new fund held its first close at almost $488m.
This e-bike brand by Lime and Didi vets pedals into the US with $12M raised
The e-bike market in America is getting a brave new player. Off the back of its $7.4 million Series A funding close, Velotric announced this week that it will be doubling down on U.S. expansion with its privately-owned e-bikes. The new round boosts the one-year-old startup’s total financing to $12 million. The amount seems paltry compared… Continue reading This e-bike brand by Lime and Didi vets pedals into the US with $12M raised
Online Taxi Services Global Market Report 2023
NEW YORK, Feb. 23, 2023 /PRNewswire/ — Major players in the online taxi services market are Ola (ANI Technologies Private Limited), Uber India Systems Private Limited, Lyft Inc., Didi Chuxing, GrabTaxi Holdings Pte Ltd, Carzonrent (India) Private Limited, Mega Cabs Private Limited, Meru Mobility Tech Private Limited, and Savaari Car Rentals Private Limited. Read the… Continue reading Online Taxi Services Global Market Report 2023
China’s Dida renews Hong Kong IPO plan despite regulatory challenges
Dida Inc, a Chinese online platform that offers carpooling and taxi-hailing services, has renewed its Hong Kong listing plan in yet another attempt to sell shares in the Asian financial hub despite regulatory challenges faced by the country’s rapid-evolving ride-sharing industry. Backed by China’s e-commerce giant JD.com, New York-listed Trip.com, and electric vehicle (EV) maker… Continue reading China’s Dida renews Hong Kong IPO plan despite regulatory challenges
China unveils offshore listing rules to revive foreign IPOs
China‘s securities regulator on Friday published long-awaited rules regulating offshore listings, reviving foreign initial public offerings (IPOs) by Chinese firms after a regulatory freeze since July 2021. The rules, published by the China Securities Regulatory Commission (CSRC) and effective from March 31, are designed to give clear guidance to companies wanting to list offshore and access liquid capital markets in places like the United States. Under… Continue reading China unveils offshore listing rules to revive foreign IPOs
Investment bank China Renaissance says chairman Bao Fan unreachable
China Renaissance Holdings Ltd saw its shares plummet by as much as 50% on Friday after the boutique investment bank said it is unable to contact Chairman and Chief Executive Bao Fan. Bao’s disappearance becomes the latest in a series of cases of high-profile Chinese executives going missing with little explanation — especially during a… Continue reading Investment bank China Renaissance says chairman Bao Fan unreachable