Power bank rental firm Xiaodian (小电科技 in Chinese) announced yesterday a series A worth roughly RMB 100 million, led by Tencent and Hangzhou Vision Capital Management, local media is reporting (in Chinese). Other investors include CDH Investments, GSR Ventures, DT Capital Partners and In Capital. Founded last December by former Alibaba employee Tang Yongbo, Beijing […]
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Join us for the biggest TechCrunch event in China!
What: TechCrunch Shenzhen 2017 When: June 17-20th, 2017 Where: I-Factory, Nanshan District, Shenzhen It has been four years since TechCrunch.cn and the TechCrunch China Summit landed in China. In that time, we have seen 6 sessions in Beijing and Shanghai with more than 300 speaker, including the world’s most famous entrepreneur, venture investor like Alphabet/Google […]
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Ofo announces partnership with China’s GPS for smart locks
Ofo has announced a strategic partnership with BeiDou Navigation, a Chinese government-backed sattelite positioning system, that will see ofo bikes equipped with Beidou-enabled smart locks, our sister site TechNode Chinese is reporting. Under the agreement, ofo’s bikes furnished with the BeiDou-enabled smart lock will be first launched in Beijing, Tianjin and Hebei province. In addition, users […]
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Ofo founder confirms bike-rental functions will come to Didi app
Editor’s note: A version of this post first appeared on Yicai Global, the English-language financial news service of Shanghai Media Group. Yicai Global is one of just two dedicated Chinese news feeds connected to the Bloomberg terminal. Ofo, one of China’s many bike-rental brands, will be incorporated into Didi Chuxing, the world’s largest ride-hailing platform, according […]
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On April Fool’s Day, one joke gets opposite reactions from China’s bike rental companies
Ah, it’s that time of year again: when the unsuspecting are caught unawares by the unstoppable forces of time. April Fool’s has become a time-honored tradition for those in tech, a time for everyone to flex their humor muscles and devise sometimes silly, sometimes outlandish, and sometimes very believable news stories and announcements. The best […]
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Bike-rental firm Youon seeks IPO
Bike-rental firm Youon submitted today an updated initial public offering prospectus to China’s securities regulator, seeking a listing in the country’s A-share market, local media is reporting (in Chinese). If successful, it will be the first bike-rental IPO in the country. Youon Public Bicycle System Co., Ltd. (“常州永安公共自行车系统股份有限公司” in Chinese), the firm behind bike-rental service […]
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10 bikes in 16 minutes: Bike-rental race revives flagging industry
Editor’s note: This was originally a two part report by Li Siyi and Jiang Xiaochuan for Tencent Finance. It has been translated and further edited for clarity and style by Linda Lew. In winning the bike-rental “arms race,” the number of bikes on the street has become the critical factor. China’s largest bicycle manufacturing hub has […]
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Ofo bike-rental feature rumored to be added to Didi app in April
Ofo’s bicycle-rental feature is expected to be accessible to users within ride-hailing giant Didi Chuxing’s app in April, signaling the bike-rental startup’s another step in an escalating race with competitors for market supremacy, our sister site TechNode Chinese is reporting (in Chinese). Didi Chuxing declined to comment when contacted by TechNode. Ofo has not responded […]
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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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Tencent launches trends search feature on WeChat
Tencent rolled out Thursday a new feature called “WeChat Index”, a Google Trends equivalent, on its popular messaging app Wechat, local media is reporting (in Chinese). The Chinese internet giant says the new feature is a mobile indexing based on WeChat’s large data analysis. Currently, the index allows users to track the dynamic change of keywords […]
