Didi Chuxing, China's largest ride share company, says it has launched its own online car rental business through an asset-light model in cooperation with existing leasing companies, says a company announcement. This is DiDi’s latest step to build upon its taxi and car hauling services, following previous expansions into auto repair and online car sales. […]
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The China Banking Regulatory Commission appears ready to issue new guidelines that will cap P2P lending and curtail some of …
Mobike, a Shanghai bike sharing start-up founded by a former Uber manager in the Chinese city, is discovering that some Chinese users like to ride the bike but don't want to share with others. The company's mobile app allows users to find the closest bikes, then by scanning a QR code on the bike to […]
Young Chinese consumers eyeing overseas fashion and products are the targets for a mobile app flush with new funding. An …
Panda Capital has led a US$10 million series B round in Mobike, a Shanghai-based mobile app that allows users to rent bikes for short distance commute, according to Chinese media reports. Joy Capital also participated in the round. Launched in December 2015, Mobike operates its own bike fleet equipped with self developed smart lock and […]
An unnamed Chinese RMB fund has led a RMB300 million (US$45 million) series C round of financing in Beijing-based mobile e-commerce firm Daling, with participation from existing investors Capital Today, IDG Capital and Sequoia Capital, says Chinese media reports. The round follows a series B financing round led by Capital Today the company completed in […]
Mango TV, Hunan Satellite TV's online video unit with backings from Chinese private equity investors, is seeking to list via a reverse merger with Shenzhen-listed Happigo Home Shopping Co., Ltd., according to a disclosure filing (in Chinese). Hunan Satellite TV, a leader in China's television and online entertainment sector, will inject seven subsidiaries into Chinese […]
Chinese regulators are considering new rules to cap P2P (peer-to-peer) lending in order to control risk and protect investors, eight months after it initiated a campaign to "clean up" faulty P2P lenders, according to Chinese media reports. An individual lender can provide loans of no more than RMB200,000 (US$29.976) on one P2P platform, and can […]
Meitu Inc., a photo retouch app developer backed by Qiming Venture Parnters, IDG Capital Partners and others, is planning to raise US$500 million to US$1 billion via an initial public offering in Hong Kong, according to a securities filing. The IPO, expected in the fourth quarter, values the company at US$5 billion and will pave […]