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Meituan acquisition of Mobike seems a done deal

Last night (03 Apr 2018), Mobike shareholder meeting voted in favor of the Meituan acquisition, The Beijing News has reported (in Chinese). The Chinese group buying site Meituan agrees to acquire the bike rental company Mobike for 35% in equity and 65% in cash, of which $320 million will be used for future liquidity needs. Details […]

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Ofo vs Mobike: Northern vs Southern China expansion models

Next time when you meet a Chinese person, ask where they are from. The geographical boundary between northern China and southern China is not precisely defined, but there are rough and approximate stereotypes on Northerners and Southerners’ height, language, and what they eat. At the annual ChinaBang Awards this year, Grace Gu, principal at ZhenFund (backer of ofo), […]

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Geely-backed Chinese ride-hailing firm Caocao Zhuanche raises $156 M series A round

Caocao Zhuanche(曹操专车) an electric vehicle sharing company backed by Chinese automaker Geely, has completed a RMB 1 billion ($156 million) series A round from various investors, at a valuation of over RMB 10 billion ($1.6 billion), Sina Technology is reporting. Investors in the round were not disclosed. With the new funding, the company plans to expand in cities […]

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Top 15 apps you need for living in China

Say goodbye to Facebook, Twitter, and Instagram and welcome your new favorite apps. Here is everything you will need to navigate your China life. 1. Communication: WeChat (微信) The app to rule them all, WeChat is the very definition of indispensable in China. This is where you will connect with your friends, communicate with your […]