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Didi wants to help millions of drivers power their electric cars

Didi Chuxing, China's top ride-hailing app, has teamed up with the country's giant power utility to make it easier and cheaper for drivers to recharge their cars.
Tags: China, Cnn, Didi, Didi Chuxing


The history of how Uber went from the most feared startup in the world to its massive IPO

Uber went public this month on the New York Stock Exchange in a much-watched IPO. Since it was founded in 2009, Uber has transformed the ride-hailing industry and grown to become the most valuable companies in the world. See the highs and lows of Uber in its journey from small San Francisco startup, through its extremely tumultous 2017, through to its 2019 IPO. Visit BusinessInsider.com for more stories. Ten years ago, a company called UberCab made a splash in San Francisco by le...
Tags: Google, Lyft, Uber, South Korea, Eric Holder, Washington Post, France, China, Ipo, India, Softbank, New York City, Africa, US, San Francisco, Trends


Trump’s Huawei ban ‘wins’ one trade battle, but the US may lose the networking war

While U.S. government officials celebrate what they must consider to be a win in their battle against the low-cost, high-performance networking vendor Huawei and other Chinese hardware manufacturers, the country is at risk of falling seriously behind in the broader, global competition for telecom tech and customers. It may be a race that the U.S. is willing to concede, but it should be noted that Huawei’s sphere of influence on other shores continues to expand, even as the company’s ability to o...
Tags: TC, Asia, Europe, Technology, Mexico, China, Africa, US, America, Tech, Bloomberg, Banking, Companies, United States, Telecommunications, President


China’s Tesla wannabe Xpeng starts ride-hailing service

There’re a lot of synergies between electric vehicles and ride-hailing. Drivers are able to save more steering an EV compared to a gas vehicle. Environmentally conscious consumers will choose to hire an electric car. And EVs are designed with better compatibility with autonomous driving, which is expected to hit the public road in the coming decades. Indeed, Tesla is eyeing to launch its first robotaxis in 2020 as part of a broader ride-sharing scheme. Over in China where Tesla has a few disc...
Tags: Transportation, Asia, Hong Kong, Elon Musk, New York, China, Cars, Tech, Tesla, Beijing, Automotive, Alibaba, Transport, Electric Car, Carsharing, Foxconn


Airbnb-backed OYO moves into Europe, buys Leisure Group from Axel Springer for $415M

OYO, the fast-growing budget hotel startup out of India that’s backed by Airbnb, SoftBank, Grab and Didi, has made an acquisition to expand its footprint into Europe, specifically around self-catering home rentals. The company has picked up @Leisure Group from Axel Springer for about $415 million (€369.5 million). Axel Springer had a 51 percent share of the company and said it would be receiving €180 million in the deal, including the repayment of a shareholder loan of around €60 million, and a ...
Tags: TC, Europe, Japan, China, Berlin, India, Softbank, Tech, Airbnb, Ritesh Agarwal, Axel Springer, Didi, Oyo, Maninder Gulati, Leisure Group, Airbnb SoftBank


Uber estimates it lost at least $1 billion in the first quarter of 2019 (UBER)

Uber filed an updated S-1 document as part of is IPO on Friday. The company expects to lose at least $1 billion for the first quarter of 2019, on revenues of just over $3 billion. Friday's filing also disclosed the company's plan to sell shares between $44 and $50 per share, giving it a valuation near $90 billion.  Uber expects its first quarter financial losses to be at least $1 billion and as high as $1.11 billion, the ride-hailing giant said in an updated IPO filing Friday morning. Revenue...
Tags: Lyft, Uber, Ipo, Russia, Southeast Asia, Trends, Paypal, United States, Washington Dc, PricewaterhouseCoopers, Daytona International Speedway, Uber Technologies Inc, CIS, Didi, ATG, IPO Uber


Uber is going public at up to $90 billion valuation

Uber plans to raise more than $10.3 billion in its initial public offering, giving it a market capitalization as high as $90 billion. The ride-hailing giant says it will offer 180 million shares at a price between $44 and $50 a share. Uber's revenue grew by up to 20% in the first quarter of 2019, but its operating loss more than doubled to north of $1 billion. Underlying sales rose by around 9% and underlying losses tripled to $954 million. "Over the last decade, as the needs and preferences o...
Tags: Uber, US, Trends, Paypal, Securities And Exchange Commission, EBITDA, Didi, Dara Khosrowshahi, Uber s IPO, UBER Building


China's Didi recruits Colombian drivers ahead of Bogota launch

Chinese ride-hailing giant Didi Chuxing said on Monday it is beginning to recruit drivers ahead of its launch in Colombia's capital Bogota in the coming months.
Tags: Money, China, Colombia, businessNews, Bogota, Didi, Didi Chuxing


Sony launches a taxi-hailing app to rival Uber in Tokyo

Sony last year announced it would enter Japan’s taxi-hailing space and, good to its word, the electronics giant has kicked off its S.Ride service in Tokyo. The service — which was first noted by CNET — is a joint venture between Sony, its payment services subsidiary and five licensed taxi companies. Since ride-hailing with civilian cars is illegal in Japan, the service will focus on connecting licensed taxis with passengers. The electronics giant previously played up its use of AI to match suppl...
Tags: Startups, Lyft, Uber, Asia, Japan, China, Softbank, Spokesperson, Artificial Intelligence, Automotive, Transport, Sony, Tokyo, Commuting, Toyota, Rakuten


Uber has already made billions from its exits in China, Russia and Southeast Asia

Uber’s exits from China, Russia and Southeast Asia were billed as failures from the company, but the ride-sharing giant has already made billions on paper from those moves, according to its IPO filing. Uber released its much-anticipated S1 on Thursday U.S. time and reporters and analysts are frantically digging into a treasure trove of previously-unreleased details. A number of sections on Uber’s global divestitures begin to paint a clear picture of the strategy that Uber employed when leaving ...
Tags: Google, TC, Uber, Asia, Indonesia, Mexico, China, Russia, Southeast Asia, Softbank, Tech, Automotive, Middle East, Tencent, Brazil, Yandex


That's Awkward: Uber's 2016 China Sale Still Waiting on Approval

The landmark deal that sealed Uber Technologies Inc.’s retreat from China, in which it agreed to fold its business into local ride-hailing leader Didi Chuxing in exchange for a stake in the other company, was never approved by China’s State Administration for Market Regulation, according to the U.S. company’s initial public offering filing. “It is not clear how or when that proceeding will be resolved,” Uber said in its filing with the New York Stock Exchange, adding that an eventual ruling cou...
Tags: Science, China, New York Stock Exchange, Uber Technologies Inc, Didi, Didi Chuxing, State Administration


Didi steps up financial drive as it courts car leasing companies

Didi Chuxing is making a further push into the financial arena as it looks to diversify its business amid huge losses. We reported in January that the company, which controls a dominant slice of China’s ride-hailing market, released financial and insurance products targeting riders and drivers. Its service offering just broadened after the startup launched on Thursday an online financial system aimed at car leasing and fleet management companies. The move to carve out a product exclusively fo...
Tags: Transportation, Asia, Internet, China, Tech, Beijing, Transport, Driver, Carsharing, Head, Ride Hailing, Didi, Didi Chuxing, Car Leasing, Xiaoyu Liu


Travel activities platform Klook raises $225M led by SoftBank’s Vision Fund

We recently noted that SoftBank’s Vision Fund has stepped up its deal-making in Asia this year, and today it added a new company to its roster: travel services platform Klook. Hong Kong-based Klook announced today that it has raised a $225 million round led by the Vision Fund with participation from existing investors. The deal — which is described as a “Series D plus” — comes just eight months after Klook announced its $200 million Series D at a valuation of over $1 billion. The company didn’t ...
Tags: Google, Fundings & Exits, Startups, Facebook, Asia, Europe, Japan, Southeast Asia, Softbank, Funding, E-commerce, Taiwan, Asia Pacific, Alibaba, Korea, Airbnb


Uber may have left Southeast Asia but its APAC HQ remains in Singapore

Uber exited Southeast Asia last year after it sold its local business to Grab but it continues to remain in Singapore, where it has now opened a new regional HQ for Asia Pacific and is hiring for staff. The company — which is headed for IPO imminently — won’t be restarting its service, however, which puts it in a rather interesting position in Singapore. The writing has been on the wall for some time, though. TechCrunch reported last August that Uber was on a hiring spree in Singapore, and now t...
Tags: Uber, Asia, Japan, Australia, Southeast Asia, Singapore, India, Tech, Asia Pacific, Transport, Commuting, Carsharing, Officer, Countries, Straits Times, APAC


Search giant Baidu has driven the most autonomous miles in Beijing

While the public is asking, “When are we going to ride in autonomous cars?” Technology companies have been moving apace to test them on designated roads. In China’s capital city Beijing, eight firms drove a total of 153,600 kilometers (95442.6 miles) through their autonomous fleets in 2018, and Baidu, the country’s largest search engine service seen as a local answer to Google, has built a big lead. That’s according to new data released by Beijing’s transportation regulators in their first re...
Tags: Google, Transportation, Asia, California, China, Nokia, Tech, Intel, Artificial Intelligence, Beijing, Ford, Automation, Shanghai, Tencent, Search Engine, Driving


Comment on zucchini, ham and ricotta fritters by Didi

you drop a single egg into a shallow dish, take an empty plastic water bottle squeeze the air out of it, hover over the yolk in your dish and suck it into the neck of the bottle and hold it with air, have a another shallow dish waiting nearby and drop the yolk into it. I am sure if you look it up on youtube you will find some video instructions. I have been using this technique for years and love it!
Tags: Food, Didi


The Twilight Zone Series Premiere Recap

The Twilight Zone series premiere recap Jordan Peele’s revival of The Twilight Zone for CBS All Access kicked off with Oscar nominee Kumail Nanjiani starring as Samir Wassan in the pilot episode, “The Comedian.” Our Twilight Zone series premiere recap follows Samir as he questions how much he’s willing to lose for success, because this new dimension is certainly willing to take everything. PB = PB || {}; PB.gptStandAlone = PB.gptStandAlone || {}; PB.gpt...
Tags: TV, Movies, Horror, David, Paris, Wheeler, TV News, Cbs, Recap, The Twilight Zone, Joe, Cbs All Access, TV Recap, Rod Serling, Gabe, Peele


Lyft closes at $87.49, 0.86% up on its opening price after opening with a 21% pop

Ride-hailing startup Lyft may bear the distinction of having highest net loss of any maiden public company ever going public, but despite that, it made its debut in a high gear this morning. Trading as LYFT on Nasdaq, the company’s shares opened at nearly noon today at just under $87/share, a pop of 21 percent on the $72/share figure the company set last night, when it raised $2.34 billion from investors, valuing the company at $24 billion. The bigger question will be how Lyft handles the market...
Tags: Travel, Google, TC, Transportation, Facebook, Lyft, Finance, Ipo, Collaborative Consumption, Los Angeles, Automotive, Andreessen Horowitz, Nasdaq, Ride-sharing, Didi, Ride-hailing Apps


Lyft pops 21% on its first day of trading on Nasdaq, after raising $2.2B in its IPO at a $24B valuation

Ride-hailing startup Lyft may bear the distinction of having highest net loss of any maiden public company ever going public, but despite that, it made its debut in a high gear this morning. Trading as LYFT on Nasdaq, the company’s shares opened at nearly noon today at $87.24, a pop of 21 percent on the $72/share figure the company set last night, when it raised $2.34 billion from investors, valuing the company at $24 billion. Expectations for how Lyft would do had already been high, after the c...
Tags: Google, TC, Transportation, Facebook, Lyft, Finance, Ipo, Collaborative Consumption, Los Angeles, Tech, Automotive, Andreessen Horowitz, Nasdaq, Ride-sharing, Didi, Ride-hailing Apps


Lyft is going public — here are the 15 biggest unicorns that still need to IPO

Lyft is set to debuted on the Nasdaq on Friday morning at a valuation of $21 billion. Here are the 15 biggest "unicorns," or private tech companies valued at over $1 billion. Ride-sharing app Lyft priced its initial public offering Thursday at $72 per share, giving the company a valuation of $21 billion. The company was known as a "unicorn" for being privately held and worth over $1 billion. To mark Lyft's IPO, we compiled a list of the 15 biggest unicorns, many of which are also contemplati...
Tags: Lyft, Uber, Singapore, Softbank, US, Trends, Baidu, Altria, CB, Didi, Uber China, Baidu AliBaba, Didi Chuxing, Toutiao, Juul Labs, Didi Chuxing Rank


Alibaba, Tencent and other major names form $1.45B ride-hailing venture

For the last two years, Didi has been the dominant car-hailing force in China and its success has spawned a handful of competitors initiated by both internet firms and old-school carmakers. Just last week, another notable challenger has stepped up. T3, which is short for “top 3”, officially launched after a dozen entities, including three major automakers, agreed to lay out a total of 9.76 billion yuan ($1.45 billion) for the joint venture following an initial agreement in July, according to an ...
Tags: Transportation, Asia, China, Funding, Tech, Renewable Energy, Beijing, Alibaba, Tencent, Food Delivery, Alibaba Group, Ant Financial, Carsharing, Suning, Meituan, Nanjing


Daily Crunch: Chinese giants fund ride-hailing challenger

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here. 1. Alibaba, Tencent and other major names form $1.45B ride-hailing venture For the last two years, Didi has been the dominant car-hailing force in China and its success has spawned a handful of competitors. Now another notable challenger has stepped up. T3, which is short for “top 3,” officially launched ...
Tags: Apple, Google, TC, China, Tech, New York Times, Alibaba, Tencent, Mountain View, Airbnb, Federal Trade Commission, Ftc, Apple News, T3, Didi, Josh Constine


SoftBank launches the Innovation Fund, committing $2B to invest in Latin America

While SoftBank continues to make big bets on startups out of its $100-billion Vision Fund, it has also launched another investment vehicle to invest in tech opportunities specifically in Latin America. Today the group announced the SoftBank Innovation Fund, which is starting out with a $2 billion commitment to invest in tech startups in Central and South America, specifically starting in the countries of Argentina, Brazil, Chile, Colombia and Mexico, covering areas like e-commerce, digital fi...
Tags: Health, Amazon, Startups, TC, Ecommerce, Asia, Mexico, China, India, Softbank, Funding, US, Tech, Bloomberg, Healthcare, Venture Capital


Taxify rebrands as Bolt to expand its transport options beyond private cars

Taxify, the ride-hailing company from Estonia backed by Didi and Daimler and now active in 30 countries, is making a key shift in its business today as it gears up for its next stage of growth. The company is removing “taxi” from its name and rebranding as Bolt, the same name that it has been using for its new electric scooter service, to double down on providing multiple transportation options beyond private cars. The shift in name and vision comes as the company has started talks for another r...
Tags: TC, Transportation, Lyft, Uber, Europe, UK, London, Sweden, China, Germany, Collaborative Consumption, US, Tech, Spain, Estonia, Bmw


FlixBus, the German Uber-like bus service, is buying rival Eurolines from Transdev

While all eyes are on what Uber Lyft and Didi will do this year as private transportation-on-demand services continue to consolidate, there’s also some interesting moves being played out in the adjacent business of bus and coach services. Today, FlixBus, the German startup backed by Daimler, General Atlantic, Silver Lake and others that has built an Uber-like network to manage bus logistics, drivers and passengers on intercity routes, announced that it is entering a deal to acquire Eurolines, a ...
Tags: TC, Europe, France, US, Tech, Blablacar, Didi, Mallet, Transdev, Eurolines, Flixbus, Jochen Engert, Daimler General Atlantic Silver Lake, TechCrunch FlixBus, Theirry Mallet


India’s Ola spins out a dedicated EV business — and it just raised $56M from investors

Ola, Uber’s key rival in India, is doubling down on electric vehicles after it span out a dedicated business, which has pulled in $56 million in early funding. The unit is named Ola Electric Mobility and it is described as being an independent business that’s backed by Ola. TechCrunch understands Ola provided founding capital, and it has now been joined by a series of investors who have pumped Rs. 400 crore ($56 million) into Ola Electric. Notably, those backers include Tiger Global and Matri...
Tags: Fundings & Exits, Electric Vehicle, Uber, Asia, Collaborative Consumption, India, Softbank, Funding, Tech, Companies, Automotive, United States, Transport, Tencent, Bmw, Tiger Global


JD.com shares take off despite slowing revenue growth

Shares of JD.com, the Chinese e-commerce service that rivals Alibaba, are on the rise today after the online retailer announced better than expected results for Q4 2018, bucking uncertainty around tech companies in China. The company reported net revenue of RMB 134.8 billion ($219.6 billion) for the final quarter of last year. Despite representing the slowest growth rate year-on-year since JD went public five years ago (22.3 percent), the figure beat analyst predictions of $19.149 billion. JD...
Tags: Apple, Ecommerce, Asia, China, Tech, Companies, Alibaba, Singles' Day, JD.com, Earnings, Nasdaq, Analyst, Liu, NetEase, Yahoo Finance, Didi


SoftBank’s Vision Fund invests $1.5B in Chinese second-hand car startup Chehaoduo

SoftBank’s Vision Fund is taking a bet on China’s auto market after it agreed to pour $1.5 billion into online car trading group Chehaoduo, which literally means “many cars” in Chinese. The Beijing-based company operates two main sites — peer-to-peer online marketplace Guazi for used vehicles, and Maodou, which retails new sedans through direct sales and financial leasing. (These sub-brands are more subtly named, which translate to “sunflower seeds” and “edamame”, respectively.) Chehaoduo sai...
Tags: Transportation, Uber, Asia, China, Softbank, Tech, Beijing, Tencent, Online Marketplace, EVs, Carsharing, Car Sales, Peer To Peer, Automobile Dealers Association, Didi, SoftBank Group


NetEase is the latest Chinese tech giant to lay off a big chunk of its staff

NetEase, China’s second-biggest online games publisher with a growing ecommerce segment, is laying off a significant number of its employees, adding to a list of Chinese tech giants that have shed staff following the Lunar New Year. A NetEase employee who was recently let go confirmed with TechCrunch that the company had fired a large number of people spanning multiple departments, including ecommerce, education, agriculture (yes, founder and executive officer Ding Lei has a thing for org...
Tags: Amazon, Gaming, Ecommerce, Asia, Business, China, Southeast Asia, Tech, Public Relations, E-commerce, Alibaba, JD.com, Amazon China, Tencent, Hangzhou, NetEase


Transportation Weekly: Tesla astroturfs, Softbank flexes, BMW and Daimler hookup, What is a Jelbi?

Welcome back to Transportation Weekly; I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch. This is the third edition of our tome, I mean newsletter, and this week let’s settle in for a mind meld on why logistics is the new Hansel, a curious Tesla subsidiary, and discover a new mobility species called the Jelbi. Never heard of TechCrunch’s Transportation Weekly? Catch up here and here. As I’ve written before, consider this a soft launch. Follow me on Twitter @kirstenkoros...
Tags: Apple, Google, Amazon, Transportation, Asia, Elon Musk, Berlin, Softbank, Los Angeles, San Francisco, Tech, Tesla, Canada, Automotive, Geneva, Bmw