Since its entry into China in 2016, WeWork has extended from four to around 60 locations across the country’s megacities like Shanghai, Beijing, and most recently, Shenzhen. That’s one-sixth of WeWork’s 360 locations worldwide. It’s also equivalent to what WeWork has achieved in its early five to six years globally, Sern Hong Yu, regional head of project […]
View More WeWork is getting serious about ChinaCategory: Shanghai
Alibaba and Amazon move over, we visited JD.com connected grocery store in China
The arms race to build the future of grocery stores is heating up in China. To no one’s surprise, the main contestants are the country’s ecommerce titans Alibaba and JD.com, which are turning offline for growth. Online retail has flourished in China, but it still accounts for less than 20 percent of the nation’s overall consumption, according […]
View More Alibaba and Amazon move over, we visited JD.com connected grocery store in ChinaChinese 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 growthWith a new deal for customers and a fresh $23 million, Mayvenn extends its hair care business
Pitching customers a new, all-inclusive service for buying and installing hair, Mayvenn is looking to significantly expand its haircare business and just raised $23 million in a new round of funding to do it. The new financing was led by Essence Ventures — and it represents the first outside investment by the holding company owned […]
View More With a new deal for customers and a fresh $23 million, Mayvenn extends its hair care businessThe next big restaurant chain may not own any kitchens
If investors at some of the biggest technology companies are right, the next big restaurant chain could have no kitchens of its own. These venture capitalists think the same forces that have transformed transportation, media, retail and logistics will also work their way through prepared food businesses. The Battle Is For The Customer Interface Investors […]
View More The next big restaurant chain may not own any kitchensTesla plans ‘rapid build out’ of China factory as tariffs weigh down automaker
Tesla plans to speed up construction of a factory in Shanghai as tariffs, shipping costs and missed incentives continue to drive up the price of the company’s electric vehicles and dampen demand. Trade tensions between the U.S. and China have led to 40 percent tariffs on Tesla vehicles compared to 15 percent duties placed on […]
View More Tesla plans ‘rapid build out’ of China factory as tariffs weigh down automakerChina’s Didi Chuxing adds more safety features following passenger murder
Didi Chuxing, China’s largest ride-hailing firm, is rolling out new security systems one month after a female customer was raped and murdered by a driver, the second such fatality on its Hitch service this year. Today the company said it introduced a number of new safety features which include random biometric ID testing for drivers […]
View More China’s Didi Chuxing adds more safety features following passenger murderStarbucks 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 businessThe dramatic rise and fall of online P2P lending in China
Editor’s note: This post originally appeared on TechNode, an editorial partner of TechCrunch based in China. When Emily Zhang was interning with a peer-to-peer (P2P) lending firm in the Summer of 2016, her main task was to carry out research on other P2P lending firms. She found the rates of return tempting and some underlying […]
View More The dramatic rise and fall of online P2P lending in ChinaWeWork China raises $500M to triple the number of cities it covers
WeWork’s China business is getting a fresh injection of capital after it raised $500 million. The company entered China two years ago and today it covers Beijing, Shanghai and Chengdu with nearly 40 locations. It claims 20,000 members, and it is also active in Hong Kong, which technically falls under ‘Greater China.’ The new capital […]
View More WeWork China raises $500M to triple the number of cities it coversThe incredible rise of Pinduoduo, China’s newest force in e-commerce
Editor’s note: This post originally appeared on TechNode, an editorial partner of TechCrunch based in China. From Alibaba to JD, China is not short of e-commerce powerhouses. Although the country’s e-commerce market is highly consolidated, it’s not impossible for startup teams to crack this market as long as they are solving the right problems for […]
View More The incredible rise of Pinduoduo, China’s newest force in e-commerceAlibaba boosts its offline reach with $2B+ investment in outdoor digital marketing firm
Alibaba is investing big bucks into offline distribution. The Chinese e-commerce giant has forked out $2.23 billion in exchange for a sizeable piece of Focus Media, a Shanghai-based company that operates outdoor digital advertising screens across China, Singapore and Hong Kong, according to a U.S. filing. The deal itself is broken up into a few pieces. Alibaba itself […]
View More Alibaba boosts its offline reach with $2B+ investment in outdoor digital marketing firm