Posts filtered by tags: Didi Chuxing[x]


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 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

What Uber's IPO Tells Us About SoftBank's Big Ride-Hailing Bet

Many of Son’s own investors at SoftBank Group Corp. are skeptical. SoftBank’s stakes in Uber, China’s Didi Chuxing, Southeast Asia’s Grab and India’s Ola are worth between $22.1 billion and $26.5 billion, according to Chris Lane, an analyst at Sanford C. Bernstein & Co. The calculation is part of a 27-page report issued Wednesday and is based on the price-to-sales valuations of Uber and rival Lyft Inc. Son sees the combination of hitching rides via an app and robot taxis as a transportation re...
Tags: Science, Southeast Asia, India, Softbank, SoftBank Group Corp, Chris Lane, Uber China, Sanford C Bernstein Co, Didi Chuxing, Lyft Inc Son

Which Tech Company Is Uber Most Like? Its Answer May Surprise You

It’s not Lyft or Didi Chuxing or another ride-hailing firm. Instead, Uber sees itself as the Amazon of transportation.
Tags: Amazon, News, Cloud Computing, E-commerce, Bezos, Dara, Uber Technologies Inc, Car Services and Livery Cabs, Initial Public Offerings, Computers and the Internet, Didi Chuxing, Mobile Applications, Inc, Khosrowshahi, Delivery Services, Jeffrey P

Uber is seeking a public valuation as high as $90 billion

Uber is seeking to raise more than $10.3 billion in its initial public offering at a valuation as high as $90 billion. In a regulatory filing Friday, the ride-hailing giant said it planned to offer 180 million shares at a price of $44 to $50 a share. "Over the last decade, as the needs and preferences of our customers have changed, we've changed too," CEO Dara Khosrowshahi said. "Now, we're becoming something different once again: a public company." Uber also announced a "driver appreciation r...
Tags: Uber, US, Trends, Paypal, New York Stock Exchange, Securities And Exchange Commission, Dara Khosrowshahi, Didi Chuxing, Overall Uber, Uber s IPO, UBER Building

Uber, Didi slam Mexico City's new rules on ride-hailing, including cash ban

Uber, Didi Chuxing and other ride-hailing firms on Thursday criticized a host of new regulations of the sector in Mexico's capital city, which include a ban on cash fares that could exclude many potential customers who lack bank accounts.
Tags: Money, Mexico, businessNews, Mexico City, Didi Chuxing

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

SoftBank's Son Stands to Double $7.7 Billion Stake in Uber IPO

SoftBank Group Corp.’s Vision Fund owns 16.3 percent of the world’s biggest ride-hailing company, according to Uber’s filing with the U.S. Securities and Exchanges Commission on Thursday. Uber is reported to seek a valuation of between $90 billion and $120 billion for the initial public offering planned in May, putting SoftBank’s share between $15 billion and $20 billion. In addition to Uber, SoftBank has poured more than $10 billion into China’s Didi Chuxing, $3 billion into Southeast Asia’s ...
Tags: Uber, Science, China, Southeast Asia, Softbank, Didi Chuxing, U S Securities and Exchanges Commission, SoftBank Group Corp 's Vision Fund, Uber SoftBank, General Motor Co

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

India’s OYO enters Japan in partnership with SoftBank

Fresh from closing a notable investment from Airbnb, India’s OYO has expanded its footprint into Japan. The move comes through a joint venture with investor SoftBank — which led OYO’s $1 billion round last year through its Vision Fund — which will cover hotel-based accommodation and home rentals. Financial details around the joint venture were not disclosed. An OYO representative declined to go into details when asked. OYO started out in India, where it initially aggregated budget hotels, and it...
Tags: Travel, Asia, Japan, Indonesia, China, India, Softbank, Philippines, Malaysia, Nepal, United Kingdom, United Arab Emirates, Hotel, Airbnb, WeWork, Laser

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

Airbnb confirms $150M-$200M investment in India’s OYO

Airbnb is continuing to widen its focus beyond ‘unconventional’ hotels as it gets ready for a much-anticipated IPO. Following its acquisition of HotelTonight last month, the company has picked today (April Fool’s Day) to confirm that it invested in India’s OYO — a startup that manages budget hotels and other stays. The deal has been rumored for a couple of months and it is additional to OYO’s (then) $1 billion Series E round which was led by SoftBank’s Vision and included participation from ride...
Tags: Fundings & Exits, Asia, Indonesia, China, Southeast Asia, India, Softbank, Funding, Tech, Ceo, Philippines, Malaysia, United Kingdom, United Arab Emirates, Sharing Economy, Airbnb

Airbnb confirms stake in India’s OYO, sources say it invested $150M-$200M

Airbnb is continuing to widen its focus beyond ‘unconventional’ hotels as it gets ready for a much-anticipated IPO. Following its acquisition of HotelTonight last month, the company has picked today (April Fool’s Day) to confirm that it invested in India’s OYO — a startup that manages budget hotels and other stays. The deal has been rumored for a couple of months and it is additional to OYO’s (then) $1 billion Series E round which was led by SoftBank’s Vision and included participation from ride...
Tags: Fundings & Exits, Asia, Indonesia, China, Southeast Asia, India, Softbank, Funding, Tech, Ceo, Philippines, Malaysia, United Kingdom, United Arab Emirates, Sharing Economy, Airbnb

On-Demand Startups Are Hemorrhaging Tens of Billions a Year

Led by the deceptively relentless Wang Xing, whose acrimonious battle with Alibaba Group Holding Ltd. makes the Lyft-Uber rivalry look like a game of Words With Friends, the Beijing company delivers meals to people’s doorsteps in 2,800 Chinese cities and has plunged into adjacent business like bike sharing and event ticketing. Let’s conveniently dub this elusive number the SOFA—or Single, On-demand, shortFall Aggregate. Staying in Asia, the ride-hailing juggernaut Didi Chuxing lost 4 billion y...
Tags: Asia, Science, Beijing, Alibaba Group Holding Ltd, Didi Chuxing, Wang Xing

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

Tencent-backed news app Qutoutiao nabs $171M from Alibaba

The race to give Chinese users their daily dose of news intensifies as Qutoutiao, a rival to TikTok parent Bytedance, net an installment of sizable backing. Alibaba is injecting $171 million in a convertible loan to Qutoutiao, the three-year-old news and video aggregation startup, according to an announcement released Thursday. The transaction will convert into about 11.4 million shares of Qutoutiao at a price of $15 per American depositary shares, representing about 4 percent of Qutoutiao. The ...
Tags: TC, Facebook, China, Tech, Beijing, United States, Shanghai, Alibaba, Tencent, Baidu AliBaba, Didi Chuxing, Bytedance, Douyin, Qutoutiao, Bilibili Alibaba, Nasdaq TechCrunch

Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East: Reuters

SAN FRANCISCO (Reuters) – Global ride-hailing firm Uber Technologies Inc will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering. Uber said late Monday night it would pay $1.4 billion in cash and $1.7 billion in convertible notes in a deal that gives it full ownership of Careem. The long-expected agreement ends more than nine months of start-and-stop negotiations between the two companies and hands...
Tags: Uber, Europe, Russia, Southeast Asia, India, San Francisco, Trends, Tech, Turkey, Middle East, Dubai, M&a, New York Stock Exchange, DCM, Latin America, Careem

Uber is paying $3.1BN to pick up Middle East rival Careem

After months and months of it’s finally been confirmed that ride-hailing giant Uber is picking up its Middle East rival Careem in an acquisition deal worth $3.1 billion — with $1.7BN to be paid in convertible notes and $1.4BN in cash. Careem was founded as a ride-hailing rival to Uber in 2012 but has since diversified its business to include offerings such as food and package deliver, bus services and credit transfers — bolstered via acquisitions of its own, such as RoundMenu and Commut ...
Tags: Fundings & Exits, Transportation, Uber, Apps, Saudi Arabia, Tech, United States, Egypt, Pakistan, Morocco, Middle East, Transport, United Arab Emirates, Jordan, Carsharing, Crunchbase

China’s Slowdown Already Hit Its Factories. Now Its Offices Are Hurting, Too.

White-collar workers face job cuts and shrinking paychecks even in go-go industries like technology, suggesting the economic pain is broader than official figures show.
Tags: News, China,, Layoffs and Job Reductions, Economic Conditions and Trends, Didi Chuxing, Labor and Jobs

Chinese private-equity firm Boyu closes largest fund yet with $3.6 billion, say sources: Reuters

Chinese private-equity (PE) firm Boyu Capital, known for cutting lucrative deals at home, has closed its latest U.S. dollar-denominated fund with $3.6 billion in committed capital, people with direct knowledge of the matter said. The fund, Boyu’s fourth and largest to date, has received strong backing from its existing investors, including family offices, sovereign funds and pension funds, the people said, declining to be named as the information is confidential. Reuters reported in November tha...
Tags: Asia, Hong Kong, New York, China, Singapore, Trends, Beijing, Shanghai, Alibaba, Funds, Ant Financial, Tpg Capital, Temasek, Reuters, Meituan Dianping, GIC

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

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,, Amazon China, Tencent, Hangzhou, NetEase

Alibaba hits the gas on mobility as its bike sharing service adds carpooling

Carpooling is heralded to be environmentally friendly and money-saving, but in smog-stricken China, the transportation option became a source of public concerns after two female passengers got murdered during their lifts with Didi Chuxing drivers. The ride-hailing app has suspended its Hitch service to this date under government command, and its peers were also directed to step up safety measures for their own offerings. The regulatory crackdown led to a shortage of cheap rides with strangers in...
Tags: Transportation, Messenger, Asia, China, Tech, Automotive, Alibaba, Transport, Tencent, Mobile Payments, Alipay, Alibaba Group, Ant Financial, Online Payments, Jack Ma, Carsharing