Hello Inc, formerly known as Hellobike, is the latest Chinese tech company to abandon overseas IPO plans amid increased scrutiny.
The underground shared bike-only parking garage could help ease two-wheeler clutter on street level.
Despite the positive news, the filing reveals that Hello Inc. still has a ways to go to reach maturity. The company has faced massive losses.
Minority shareholders have reportedly begun receiving documents about the deal.
The company says it holds over 50% market share in terms of numbers of orders.
GGV Managing Partner Jixun Foo discusses the return to a more rational investment approach in China.
Two repeat investors participated in DST’s latest fundraise, and well-known Qiming Ventures led its first funding rounds.