Chinese ride-hailing giant Didi Chuxing is reportedly closing an acquisition deal of ofo, the last remaining major independent player in China’s bike-rental industry, local media reported citing people familiar with the matter. The source disclosed that Didi already sent due diligence team to ofo over the past two to three weeks. The two parties are […]
Search results
Posted inTurf Wars
Briefing: Hello TransTech going all in on ride-hailing through partnership with Didi rival
China’s transportation industry is experiencing a swift change of powers for both two-wheel and four-wheel mobility services
Posted inOn the Cusp
Briefing: Uber is coming back to China to make scooters
Uber has no plans to bring its bike rental scheme to China but it is considering other Asian countries.
Posted inOn the Cusp
Briefing: HelloBike rebranded as “Hello TransTech”
The company started registering a series of trademarks back in April.
Posted inHeavy Hitters
Ofo said to complete a new round of financing led by Didi and Ant Financial
The news of ofo’s E2-2 round comes amid rumors of acquisition by Didi Chuxing.
Posted inNews
Updated: Alibaba rumored to deepen involvement in bike-rentals with upcoming $1 bln Hellobike investment round
Updated 23 Jan 2017: TechNode Chinese has reached out to Hellobike, Fosun Capital and Hellobike’s early-stage investor GGV, but neither has confirmed the news. Chinese bike rental firm Hellobike (哈罗单车) is going to complete $1 billion worth of round from Ant Financial (an affiliate company of Alibaba Group), Fosun Capital, and some other existing investors, people familiar […]
Posted inOn the Cusp
Ofo moves its Beijing headquarters in midst of cash crunch
Ofo’s headquarters have shifted as it faces a reported cash crunch.
Posted inOn the Cusp
Ofo rumor mill continues as they battle whispers of bankruptcy
The Chinese bike rental firm is reportedly preparing for its bankruptcy reorganization plans.
Posted inNews
Didi continues pivot into two wheeled mobility with beta test of electric bike rental
Chinese ride-hailing behemoth Didi is beta-testing its electric bike rental service in South China, a person with knowledge of the matter told TechNode. Didi is said to have won the initial support of at least three cities. The firm is expected to develop its own bike rental brand, or potentially a separate app, with an access […]
Posted inHeavy Hitters
ofo’s US fire sale is another spoke in China’s rental-bike wheel
Cash-strapped Ofo could try wheeling its business down another path.
