The rumors are true, India’s Uber rival/potential-future-M&A-buddy Ola has acquired transportation startup Ridlr in an undisclosed deal. Mint reported the imminent transaction last week, describing it as a fire sale, and today Ola confirmed the deal. The terms are undisclosed so you can make of that what you will. Founded in 2010, Ridlr operates as a… Continue reading Uber’s India rival Ola could add public transport services following latest acquisition
Tag: Didi
Alibaba’s Mapping Unit AutoNavi Declares War On Didi Via Launch Of Carpooling Business
Alibaba’s mapping unit, AutoNavi Holdings Ltd. also known as Gaode Map, has launched its own carpooling business, starting in Chengdu and Wuhan initially with plans to roll out nationally. In a move that declares war to existing ride sharing leader Didi Chuxing, AutoNavi’s expansion into the shared mobility space further complicates a sector that was… Continue reading Alibaba’s Mapping Unit AutoNavi Declares War On Didi Via Launch Of Carpooling Business
Daimler-BMW mobility venture aims to be global player – Daimler CFO
STUTTGART: Daimler and BMW‘s new joint mobility services division aims to become a global player through both organic growth and acquisitions, Daimler Chief Financial Officer Bodo Uebber said on Thursday. “We want to grow significantly and we are in a position to handle large acquisitions,” Uebber said. The two leading German luxury carmakers unveiled plans… Continue reading Daimler-BMW mobility venture aims to be global player – Daimler CFO
BMW and Daimler create the world’s number one car-sharing
To stay in the running against American Uber and Lyft or Chinese Didi, Daimler and BMW join forces. The two German manufacturers, who usually fight for the first place in the podium on the high-end segment, Wednesday announced the signing of an agreement to merge their mobility services Car2go and DriveNow. The operation, which has… Continue reading BMW and Daimler create the world’s number one car-sharing
Uber has agreed to sell its Southeast Asia business to rival Grab
After weeks of speculation, Uber has concluded a deal that will see it sell its business in Southeast Asia to local rival Grab. The company plans to announce the agreement this coming week and potentially as soon as Monday, two sources have confirmed to TechCrunch. Full details of the arrangement aren’t fully clear at this point, but… Continue reading Uber has agreed to sell its Southeast Asia business to rival Grab
Matrix Partners co-leads $473m round in China’s electric car maker CHJ Automotive
March 23, 2018 Chinese electric car startup CHJ Automotive has pocketed Rmb3 billion ($473 million) in its Series B funding round led by Matrix Partners China and Shougang Fund’s new energy fund portfolio, according to Chinese media reports. CHJ Automotive, described by Western media as a Chinese rival to Tesla, said the funding round was… Continue reading Matrix Partners co-leads $473m round in China’s electric car maker CHJ Automotive
Chinese bike-sharing startup Ofo raises $866M in new financing led by Alibaba Group
Beijing-based bike-sharing startup Ofo has raised $866 million in new financing led by Alibaba Group to fuel its expensive competition with Mobike, which is backed by Tencent, one of Alibaba’s biggest rivals. Ofo and Mobike are the two largest bike-sharing companies in China. Other participants in the round, which consists of equity and debt financing,… Continue reading Chinese bike-sharing startup Ofo raises $866M in new financing led by Alibaba Group
Carsome raises $19M for its used-car sales platform in Southeast Asia
Funding for Southeast Asia’s car trading platforms is like buses. After a long wait without news, a third startup has raised funding in the space of a month. Carsome, a Malaysia-based company that also operates in Singapore, Indonesia and Thailand, announced today it has raised a $19 million Series B round just weeks after smaller… Continue reading Carsome raises $19M for its used-car sales platform in Southeast Asia
Malaysia’s online used car platform Carsome raises $19m in Series B
March 8, 2018 Carsome, an online used car platform headquartered in Malaysia, has raised $19 million in a Series B funding round led by Burda Principal Investments and joined by Gobi Partners. InnoVen Capital and Lumia Capital also joined the funding round. In a statement, the startup said it will use the funds to scale… Continue reading Malaysia’s online used car platform Carsome raises $19m in Series B
Ofo Borrows $280M From Alibaba As Financial Troubles Escalate At Bike Sharing Firm
In a sign of financial distress derived from shareholder disagreements, bike sharing company Ofo has mortgaged its own bicycles in order to receive two loans worth RMB1.77 billion (US$280 million) from Alibaba’s affiliates, according to data from the National Enterprise Credit Information Publicity System. By pledging more than four million bikes, ofo risks losing its most… Continue reading Ofo Borrows $280M From Alibaba As Financial Troubles Escalate At Bike Sharing Firm