Tag: Didi

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

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