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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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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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Didi Bike operation was suspended for one day in Shenzhen

Chinese taxi hailing company Didi’s bike rental service, Didi Bike (青桔单车, meaning green tangerine bike in Chinese), was suspended for one day for not obeying the local law, Chinese media Shenzhen News is reporting.  Bike rental companies hugely spread out last year, filling the Chinese streets with rental bikes. In order to manage rental bicycles, […]