Posted inPosts

Top 3 Chinese tech fails of 2017

The year 2017 was great for many tech firms in China. Tencent briefly outdid Facebook in market valuation reaching a $500 billion valuation mark. Toutiao shot up from obscurity on the international scene with its parent Bytedance buying Musical.ly. Alibaba spread its wings further into Asia, Didi started its global expansion, Huawei overtook Apple as […]

Posted inHeavy Hitters

Ucommune confirms RMB 300 million acquisition of Workingdom, signals there is more to come

While the sharing economy mania is cooling down in the bike rental industry with ofo retreating from India and Australia, the field of co-working is seeing some ambitious moves. Ucommune (previously UrWork), China’s leading co-working space and startup community service provider, announced today an RMB 300 million ($45 million) acquisition of Shanghai-based co-working company Workingdom. The acquisition is not […]

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Didi deepens partnership with Renrenche for expansion in auto trading business

Ride-hailing giant Didi Chuxing has inked a strategic partnership with Chinese online used-car trading marketplace Renrenche to offer comprehensive solutions for vehicle supply and maintenance services. The move comes five months after the on-demand car company invested a hefty $200 million in Renrenche, a classified site that allows car owners to sell directly to other […]