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
Tag: Didi
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
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
China Life Insurance To Invest $600M In Didi Chuxing
China’s largest ride share company Didi Chuxing has received a US$600 million investment from China Life Insurance Co. Ltd., following a US$1 billion injection from Apple Inc and a US$400 million infusion from Alibaba Group Holdings Ltd. and its Internet finance unit Ant Financial last month. According to Tencent Technology citing a company announcement, China… Continue reading China Life Insurance To Invest $600M In Didi Chuxing