What do you do when your closest rival raises a record financing round? Complete a larger fundraising and set a new record, of course. That’s what Beijing-based bike sharing company ofo Inc. just did. A few weeks after competitor Mobike raised US$600 million, ofo announced today that it has raised more than US$700 million led… Continue reading Ofo Sets New Fundraising Record After Collecting $700 Million In New Round
Tag: Uber
China’s Online Food Ordering Market Matures With 75% Penetration Rate
Over 75% of China’s netizens have ordered food online or via mobile apps, up from 35% two years ago, says a new research report by Tencent Holdings Ltd. In comparison, the penetration rate for online food delivery in the U.S. is at around 5%, according to a recent Morgan Stanley research report. The convenience of… Continue reading China’s Online Food Ordering Market Matures With 75% Penetration Rate
Chinese Bike Firm Ofo Hires Former Uber Product Chief Michelle Chen As CPO
Beijing-based bike sharing company ofo has hired Michelle Chen (pictured), former head of product at Uber China, as chief project officer to handle the company’s product design and data research. She will report directly to the company’s founder and CEO, Dai Wei. Chen joined Uber Technologies Inc. in 2015, and was responsible for the U.S.… Continue reading Chinese Bike Firm Ofo Hires Former Uber Product Chief Michelle Chen As CPO
Didi Ponders SoftBank-Led $6B Investment As China’s Ride Share Giant Suffers Volume Declines
China’s Uber equivalent Didi Chuxing is considering whether to take a US$6 billion investment backed by SoftBank Group Corp. – which could be the largest private fundraising for an Internet company anywhere, anytime – as the Chinese ride sharing giant suffers volume declines after regulations were rolled out across the country. SoftBank might be investing… Continue reading Didi Ponders SoftBank-Led $6B Investment As China’s Ride Share Giant Suffers Volume Declines
China’s Didi Launches AI Lab In Silicon Valley, Aims To Lead On Intelligent Driving Tech
The global talent war for top artificial intelligence (AI) talent just intensified, as Chinese ride share giant Didi Chuxing officially launched an AI lab in California to attract top engineering talents to advance transformation in the global transportation industry. The newly established Didi Labs, located in Mountain View, will primarily focus on AI-based security and… Continue reading China’s Didi Launches AI Lab In Silicon Valley, Aims To Lead On Intelligent Driving Tech
China’s Didi Sued For Talent Poaching By Alibaba-Owned AutoNavi
Chinese mapping company AutoNavi Holdings Ltd., owned by Alibaba Group Holdings Ltd., has sued Didi Chuxing for unfair competition, alleging the ride-sharing company poached eight veteran engineers from its team and asking for RMB75 million (US$10.9 million) in damages, according to court documents. AutoNavi said that one senior manager and six engineers with knowledge of… Continue reading China’s Didi Sued For Talent Poaching By Alibaba-Owned AutoNavi
BMW plans European Uber
The car company BMW is looking for new business areas. With DriveNow, the Bavarians are already investing in the carsharing business, now they want to start a carpool service according to SPIEGEL-ONLINE information. Administration building of BMW in Munich Monday, 14.03.2016 09:09 clock BMW wants to build in Europe a competitor to the driving service… Continue reading BMW plans European Uber
Everything on a map
Audi, BMW and Daimler paid around three billion euros for the map service Here. Why? Digital maps are the key to the car of the future. HERE Berlin Wednesday, 13.04.2016 20:22 clock The office in the Invalidenstraße in Berlin-Mitte is inconspicuous: Simple furniture, bright walls. Only a white cockpit in the corner indicates that this… Continue reading Everything on a map
Didi-Backed Bike Sharing Start-Up Ofo Expands To 22 Cities In China
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
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