Hello Inc, formerly known as Hellobike, is the latest Chinese tech company to abandon overseas IPO plans amid increased scrutiny.
The underground shared bike-only parking garage could help ease two-wheeler clutter on street level.
Despite the positive news, the filing reveals that Hello Inc. still has a ways to go to reach maturity. The company has faced massive losses.
Minority shareholders have reportedly begun receiving documents about the deal.
The Chinese capital is reinforcing electronic fences for bike rentals. The designated parking zones will prevent bike users parking haphazardly, according to Xinhua report (in Chinese). Last year, regulators issued parking guidelines to encourage bike users to park in an orderly manner, but the guidelines were not strictly imposed. Now, regulators are enforcing the guidelines […]
GGV Managing Partner Jixun Foo discusses the return to a more rational investment approach in China.
The company says it holds over 50% market share in terms of numbers of orders.
Two repeat investors participated in DST’s latest fundraise, and well-known Qiming Ventures led its first funding rounds.
Ofo has released a revamped app featuring e-commerce offerings on JD.com and Tmall through which users can ‘earn’ back their deposits by shopping rebates.
Didi hopes new strategies will help it complete a U-turn that will get it out of the dead-end in which it finds itself.