Tag: Didi

Alibaba Leads $866M Financing Round In Ofo, Increasing Control Of Bike-sharing Firm

China’s bike-sharing firm ofo announced that it has raised US$866 million in equity and debt capital in a funding round led by Alibaba Group Holding Ltd. The deal increases Alibaba’s control over the company and further distances ofo from its major shareholder Didi Chuxing.  Alibaba’s financial affiliate Ant Financial, Haofeng Group, Tianhe Capital and Junli… Continue reading Alibaba Leads $866M Financing Round In Ofo, Increasing Control Of Bike-sharing Firm

Chinese car trading platform Chehaoduo raises $818m in Tencent-led funding

March 2, 2018 Beijing-based online car trading platform Chehaoduo has raised $818 million in a Tencent Holdings-led Series C funding round, less than five months after it reached the unicorn status in late October. According to a China Money Network report, the Series C round of financing was also joined by a number of new… Continue reading Chinese car trading platform Chehaoduo raises $818m in Tencent-led funding

Is Uber selling its Southeast Asia business to Grab?

If you read the tech press, you might have seen reports that Uber is pursuing a sale in Southeast Asia that would see Grab, its Singapore-headquartered rival valued at $6 billion, acquire Uber’s business in the region. Rumors of such a tie-in have been rife for a while. Uber sold its China business in exactly such… Continue reading Is Uber selling its Southeast Asia business to Grab?

Bosch starts new division, acquires U.S. carpooling start-up

Feb 21 (Reuters) – Germany’s Robert Bosch on Wednesday created a new division to expand its reach in the markets for ride services and connected vehicles and acquired a small U.S. ride services company as part of the strategic shift. The carpooling start-up Splitting Fares Inc, whose app connects people who share the same route… Continue reading Bosch starts new division, acquires U.S. carpooling start-up

CORRECTED-UPDATE 3-Japan’s Sony to form alliance to build taxi-hailing system

TOKYO (Reuters) – Sony Corp said on Tuesday it would become the latest blue-chip firm to jockey for position in Japan’s taxi and ride-hailing market, with plans for a joint venture to develop an artificial intelligence-based hailing system. The partnership is the latest in a growing array of tie-ups between domestic taxi firms and tech… Continue reading CORRECTED-UPDATE 3-Japan’s Sony to form alliance to build taxi-hailing system

Sony Corp. to launch an AI-based taxi-hailing service in Japan

Sony Corporation said today that it will build an AI-based ride-hailing system in Japan in partnership with five taxi companies. The service will use artificial intelligence to manage taxi dispatches and forecast demand based on factors like weather, traffic and local events. Sony’s announcement came just before Uber chief executive officer Dara Khosrowshahi, who is… Continue reading Sony Corp. to launch an AI-based taxi-hailing service in Japan

UPDATE 2-Japan’s Sony to form alliance to build taxi-hailing system

TOKYO (Reuters) – Sony Corp said on Tuesday it would become the latest blue-chip firm to jockey for position in Japan’s taxi and ride-hailing market, with plans for a joint venture to develop an artificial intelligence-based hailing system. Japan is seen as a potentially lucrative ride-hailing market, with regulators under pressure to ease stringent rules.… Continue reading UPDATE 2-Japan’s Sony to form alliance to build taxi-hailing system

Uber is reportedly preparing to sell its Southeast Asian business to Grab

Uber is preparing to sell its Southeast Asian business to Grab in exchange for a stake in the Singaporean ride-sharing company that has a big presence in that region, according to a new report from CNBC. This wouldn’t be an unfamiliar story for Uber, which was handily beaten by Didi in China before eventually caving… Continue reading Uber is reportedly preparing to sell its Southeast Asian business to Grab

Limebike Raises $70M B+ Round As Bike Sharing Competition Intensifies

US-based bike sharing company LimeBike has raised a US$70 million B+ round, the company announced today. The funds will suppport the company’s expansion beyond its core bike rental business, to include electric bikes and scooters, differentiating it from Chinese bike sharing giants such as Mobike and ofo. California-based Fifth Wall Ventures led the funding round, which brings… Continue reading Limebike Raises $70M B+ Round As Bike Sharing Competition Intensifies