Tag: Didi

China’s Bike Rental Firms Mobike, ofo Are Raising Nearly $1 Billion In Fresh Funding

As city streets in China become a theater for the current venture capital-fueled bike rental start-up frenzy, the two biggest bike rental companies in the country, Shanghai-based Mobike and Beijing-based ofo, are both raising massive new financing rounds totaling nearly US$1 billion. Mobike is raising a new round worth several hundred million U.S. dollars, which… Continue reading China’s Bike Rental Firms Mobike, ofo Are Raising Nearly $1 Billion In Fresh Funding

Ofo Partners With China Telecom, Huawei To Improve Smart Bike Tech

Beijing-based bike sharing firm ofo has formed a partnership with China Telecommunications and Huawei Technologies Co. Ltd. to improve technology related to smart bikes, which has swept across the nation by storm lately. China Telecom will provide nationwide wireless Internet coverage for ofo, while Huawei will equip ofo bikes NB-IoT (narrow band Internet of Things)… Continue reading Ofo Partners With China Telecom, Huawei To Improve Smart Bike Tech

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

Tencent, Warburg Lead $215M Series D Round In China’s Mobike

Chinese Internet giant Tencent Holdings Ltd. and Warburg Pincus have led a US$215 million series D funding round in Mobike, a Chinese smart bike-sharing company. New strategic investors including China’s largest travel company Ctrip, TPG, and Chinese hotel operator Huazhu Hotels Group, as well as existing investors Sequoia Capital China and Hillhouse Capital also participated.… Continue reading Tencent, Warburg Lead $215M Series D Round In China’s Mobike

Ofo Appoints Ex-Didi Senior Vice President Fu Qiang As Deputy CEO

Chinese bike sharing firm ofo has appointed Fu Qiang (pictured), former senior vice president at Chinese ride sharing company and ofo’s largest shareholder Didi Chuxing, as its deputy chief executive officer. At the same time, head of Didi’s open platform Nan Shan and director of finance Leslie Liu have joined ofo’s marketing and finance department,… Continue reading Ofo Appoints Ex-Didi Senior Vice President Fu Qiang As Deputy CEO