Hellobike’s new prices are more expensive than taking the bus in Beijing, which may be a blow to its business model.
China has been looking to reduce its reliance on foreign technologies amide escalating trade tensions with the US.
The company says it holds over 50% market share in terms of numbers of orders.
ofo raises $866 million in latest funding round led by Alibaba
As the ride-hailing market in China heats up again, Alibaba-owned AutoNavi (高德地图) also known as Amap has announced that its ride-hailing service Gaode Jiaoche (高德叫车) has gone online, TechNode’s Chinese sister site reports. The move is just another small step for AutoNavi towards building its one-stop mobility aggregation platform. The ride-hailing service is integrated into […]
Alibaba Local Services Company is embracing “new retail” to fend off competitors such as Tencent-backed Meituan.
Ofo investor Zhu Xiaohu (also known as Allen Zhu) from GSR Ventures is rumored to have sold his shares in ofo to Alibaba for $3 billion (in Chinese). The source is Zhu’s brother-in-law Ou Chengxiao who revealed Zhu’s plans at a public event a few days ago. According to a transcription of Ou’s speech circulating online, […]
The battle between Tencent and Alibaba is entering a new field—credit scoring, a key infrastructure that is certain to escalate the mobile payment war between the two internet giants. Tencent opened this week its new credit rating system to limited group users on QQ, WeChat’s older sibling. This marks a big step forward for Tencent: Not only […]