Search Results for:Cate Cadell

Baidu top exec behind firm’s AI drive to step down

Lu is the latest in a series of high-profile AI experts to leave the company in the past year, amid fierce global competition for talent in the field. picks 33% stake in insurer Allianz’s China unit for $85m

The investment will make the second largest shareholder in Allianz China, said the insurance firm in a filing.

Meituan Dianping to acquire bike-sharing giant Mobike for $2.7b

The deal will intensify the rivalry of their common backer Tencent Holdings with Alibaba Group.

Meituan-Dianping to buy large stake in Chinese bike-sharing major Mobike

The deal was brokered by Pony Ma, chief executive of Tencent Holdings, a backer of both companies.

Alibaba to fully acquire $9.5b food delivery app

The acquisition enlarges Alibaba’s food delivery empire, which includes delivery platform Koubei, as it competes with Meituan-Dianping.

Chinese bike-sharing firm Ofo raises $866m in Alibaba-led round

Ofo claims it’s the largest investment garnered in a single round by a bike-sharing startup.

China: Pharma startup XtalPi raises $15m led by Sequoia, joined by Google, Tencent

XtalPi uses AI, cloud computing and quantum physics to improve drug design processes.

Google leads $120m round in Chinese e-sports firm Chushou

The investment is Google’s second-ever in a Chinese startup.

Chinese ride-sharing firm Didi Chuxing raises $4b in new funding round

The round values the firm at close to $50 billion and was joined by existing backer SoftBank.

China’s Tencent, invest $863m in online retailer Vipshop

The deal comes as Tencent pushes into retail, leveraging its relationship with and popular app WeChat.