Since early 2017, there’s been a new trend in the U.S. where a number of Asian funds have been actively involved in early-stage crypto investing. Many folks in traditional tech have not heard of them before, but these funds will only be growing more important as cryptocurrency and blockchain solidify their position in the American […]
View More Cryptocurrency and blockchain bring Asia funds to the forefront of U.S. techCategory: Meituan-Dianping
China’s Didi suspends carpooling service after another female passenger is mudered
Chinese ride-hailing firm Didi Chuxing, the $60 billion-valued company that bought out Uber’s China business, has suspended its carpooling service after the murder of a female passenger. The fatally is the second such incident this year after a passenger was murdered in May. Police this weekend arrested a man who is accused of raping and […]
View More China’s Didi suspends carpooling service after another female passenger is muderedAlibaba confirms it raised $3B for its newly consolidated local services business
Alibaba has confirmed that it has raised $3 billion for its new-look local services business after it united its Koubei local services business with Ele.me, the on-demand delivery business it recently acquired. The company said it put the capital into the business alongside SoftBank, according to a note within its financial results that were released today. […]
View More Alibaba confirms it raised $3B for its newly consolidated local services businessSino-US investment firms are targeting over $4 billion for new funds launched this year
As limited partners increasingly demand greater exposure to emerging market opportunities, venture capital firms with a focus on Asia are bulking up their funds and chasing deals in an increasingly competitive race to own stakes in the next generation of local startups with global aspirations. Over the last year, firms, including DCM Ventures, GGV Capital, Matrix […]
View More Sino-US investment firms are targeting over $4 billion for new funds launched this yearStarbucks partners with Alibaba on coffee delivery to boost China business
Starbucks is palling up with Alibaba as it seeks to rediscover growth for its business in China. China has been a bright spot for some time for the U.S. coffee giant, but lately it has struggled to maintain growth — its China business dragged on its Q3 financials — and it is up against some […]
View More Starbucks partners with Alibaba on coffee delivery to boost China businessGo-Jek kicks off Southeast Asia expansion with Vietnam launch
Go-Jek, the Indonesia-based ride-sharing company valued at $5 billion, has begun its ambitious plan to increase its rivalry with Grab by expanding into three new markets after it opened shop in Vietnam. The service — which is known as Go-Viet — covers an initial 12 districts in Ho Chi Minh City with a motorbike on-demand service. Rival […]
View More Go-Jek kicks off Southeast Asia expansion with Vietnam launchMobike unveils first initiatives since acquisition by Meituan, including no longer requiring deposits
Mobike made a roster of announcements about its bikesharing program today, including the end of customer deposits and full integration into Meituan Diaping’s app. The developments, its first since its acquisition by Meituan for $2.7 billion in April, are meant to help Mobike become a stronger competitor against Ofo, its biggest rival, and a slew […]
View More Mobike unveils first initiatives since acquisition by Meituan, including no longer requiring depositsIndian food delivery startup Swiggy raises $210M at a $1.3B valuation
India’s food delivery race is hotting up after Swiggy, one of the startups vying for pole position, landed $210 million in new capital for expansion and joined the billion-dollar startup unicorn club. The investment is led by existing backer Naspers, the media conglomerate famous for an early bet on Tencent in China, and new investor DST […]
View More Indian food delivery startup Swiggy raises $210M at a $1.3B valuationChinese bike-sharing pioneer Mobike sold to ambitious Meituan Dianping for $2.7B
Meituan Dianping, the fast-growing Chinese firm valued at $30 billion, is buying Mobike, a Chinese startup that helped pioneer bike-sharing services worldwide, in a major piece of consolidation. The deal was heavy rumored yesterday and TechCrunch has today confirmed with a source that it has been concluded at a price of $2.7 billion. TechCrunch understands […]
View More Chinese bike-sharing pioneer Mobike sold to ambitious Meituan Dianping for $2.7B