“Are there areas where you see there is too much hype?” Elzio Barreto, a Reuters correspondent asks three veteran China-focused venture capitalists on stage at RISE Conference in Hong Kong. He cites a recent incident where an umbrella sharing company in Nanchang, the capital city of Guangxi Province, lost all its 30,000 umbrellas within a few weeks […]
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Bike-rental startup ofo lands series D+ backed by Alibaba’s Ant Financial
The funding spree continues in China’s bike-rental sector. Bike-rental startup ofo announced over the weekend that it raised an undisclosed amount in its Series D+ from Alibaba’s financial arm Ant Financial. Under the deal, ofo cooperate with Ant Financial in the fields of e-payment, credit system and globalization process. The announcement came less than two […]
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Shanghai mulling bike-rental regulations
Shanghai is mulling rules to regulate the sizzling yet reckless development of the city’s bike-rental sector, local media is reporting (in Chinese). The new rules, expected to be introduced in May and come into effect in June or July this year, are the latest government efforts to deal with the growing problems emerging with the bike-rental […]
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How ofo is bringing China’s latest export to the rest of the world
Ofo, China’s latest bike-rental unicorn that Apple CEO Tim Cook paid his tribute to during China visit, is looking beyond the borders of the middle kingdom. “The act of bike-sharing could someday become a lingua franca, connecting people around the world,” said Dai Wei last week at Boao Forum for Asia. The company’s bold global […]
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The saga of the “bike-rental company that wasn’t” continues
Kala Danche (卡拉单车) is back in business. As you may recall, last week we reported that the company had lost over 75% of their bicycles in less than 20 days of operation. Because of that, their only investor made a quick exit, taking all the user deposits with him and triggering a cascade of questions […]
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Weekly Briefing: Mobile payments, O2O, and the IoT economy
Editor’s note: This originally appeared in our weekly newsletter. Sign up here to get our updates straight to your inbox. This week’s briefing starts off a bit personal. I’ve been in and out of Chinese media and tech since 2010. Since I joined TechNode last November, I’ve told many people the same thing: There’s no […]
