Meituan confirms Mobike’s retreat from most overseas markets

TechCrunch reported last Friday that Mobike has scrapped operations across the Asia Pacific region as a key step towards a long-term plan to scale back its international business. On Monday, its parent company Meituan confirmed that the pioneer in China’s bike rental sector will shut down most of its foreign markets. “Mobike international business is […]

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Transportation Weekly: Waymo unleashes laser bear, Bird spreads its wings, Lyft tightens its belt

Welcome back to Transportation Weekly; I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch . This is the fifth edition of our newsletter and we love the reader feedback. Keep it coming. Never heard of TechCrunch’s Transportation Weekly? Catch up here, here and here. As I’ve written before, consider this a soft launch. Follow […]

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Startups Weekly: What’s up with YC? Plus, mobility layoffs and Airbnb’s grand plans

In this week’s startups newsletter: Y Combinator president Sam Altman is stepping down, Marie Kondo is raising VC and Munchery has finally filed for bankruptcy.

View More Startups Weekly: What’s up with YC? Plus, mobility layoffs and Airbnb’s grand plans

Bike sharing pioneer Mobike is retreating to China

In a telling sign of the state of bike sharing, Mobike, a once red-hot startup that attracted billions in investment capital, is closing down all international operations and putting its sole focus on China. On Friday, Mobike laid off its operations teams in APAC, which entailed more than 15 full-time employees and many more contractors […]

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China’s Didi reportedly lost a staggering $1.6 billion in 2018

China’s largest car-hailing company is facing relentless pressure from all fronts. Beijing-based Didi Chuxing reportedly lost a staggering 10.9 billion yuan ($1.6 billion) in 2018, according to financial data that Chinese news site 36Kr obtained. For some context, Uber posted a net loss of $939 million on a pro forma basis and an EBITA loss at $527 million during […]

View More China’s Didi reportedly lost a staggering $1.6 billion in 2018

China’s Mobike will rename to Meituan Bike as its parent takes the wheel

One of China’s top bike rental apps is entering a new phase. Mobike, which neighborhood services giant Meituan-Dianping gobbled up last April, is changing its name to Meituan Bike as part of an ongoing integration with its parent, according to an internal letter from Meituan senior vice president Wang Huiwen to staff. There’s no timeline for when the […]

View More China’s Mobike will rename to Meituan Bike as its parent takes the wheel

Alibaba-backed Hellobike bags new funds as it marches into ride-hailing

2018 has been a rough year for China’s bike-sharing giants. Alibaba-backed Ofo pulled out of dozens of international cities as it fought with a severe cash crunch. Tencent-backed Mobike puts a brake on expansion after it was sold to neighborhood services provider Meituan Dianping. But one newcomer is pedaling against the wind. Hellobike, currently the country’s […]

View More Alibaba-backed Hellobike bags new funds as it marches into ride-hailing

Alibaba-backed Hellobike bags new funds as it marches into ride-hailing

2018 has been a rough year for China’s bike-sharing giants. Alibaba-backed Ofo pulled out of dozens of international cities as it fought with a severe cash crunch. Tencent-backed Mobike puts a brake on expansion after it was sold to neighborhood services provider Meituan Dianping. But one newcomer is pedaling against the wind. Hellobike, currently the country’s […]

View More Alibaba-backed Hellobike bags new funds as it marches into ride-hailing

Neuron Mobility raises $3.7M to bring e-scooters to Southeast Asia’s cities

Despite the rise in electric scooters in the U.S., you’d be forgiven for thinking that Asia — the region where bike-sharing foreshadowed the rise of e-scooters — has been left off the party. But e-scooters have quietly been in the region for some time and now they are beginning to ramp up. Singapore-based Neuron Mobility is […]

View More Neuron Mobility raises $3.7M to bring e-scooters to Southeast Asia’s cities

Meituan, China’s ‘everything app’, walks away from bike sharing and ride hailing

A major player in the race to transport Chinese people around is losing steam. Meituan Dianping, the Tencent-backed all-encompassing platform for local services, continues to put the brakes on bike-sharing and ride-hailing, the company said on its earnings call on Thursday. The eight-year-old firm is best known for competing with Alibaba-owned Ele.me in food deliveries […]

View More Meituan, China’s ‘everything app’, walks away from bike sharing and ride hailing

Chinese WeWork rival Ucommune raises $200M to go after international growth

China’s Ucommune, the country’s largest rival to WeWork, has been on a busy acquisition spree to build out its domestic business and now it is looking at overseas opportunities after it closed a $200 million Series D funding round. The new round was led by Hong Kong-based All-Stars Investment with participation from Chinese investment bank […]

View More Chinese WeWork rival Ucommune raises $200M to go after international growth

China’s Youon expands into Europe as other bike startups backpedal worldwide

A little known Chinese bike company is riding into Europe as its peer Ofo has applied the brakes to its global expansion strategy in recent months. Youon, which gets by manufacturing public bikes for city governments across China, has formed a joint venture with UK-based bike-sharing startup Cycle.land, it says in a statement. The deal […]

View More China’s Youon expands into Europe as other bike startups backpedal worldwide