By Ardi Wirdana
Gobee and Ofo are the latest players to have succumbed to increasing pressure in a tough industry that has claimed successive scalps.
FAW Group, Dongfeng Automobile and Chongqing Changan Automobile have set up a ride-sharing venture.
Ucommune, formerly known as Urwork, said the acquisition, its fourth this year, will add over 11,000 square meters of prime co-working space in the bustling commercial capital of Shanghai.
It plans to introduce “door-to-door service” for small item delivery in the next few months.
China Investment Corp. has laid the groundwork for an application to the central government to let it invest in domestic capital markets.
Bexcellent raised HK$135 million in its initial public offering after pricing shares near the top of a marketed range. That’s a contrast to Xiaomi Corp. which priced its initial public offering at the low end two weeks ago.
The investment from the iPhone maker will be made along with 10 suppliers including Pegatron Corp and Wistron Corp over a four-year period.
The latest funding round, which was joined by JD.com, values Aihuishou at $1.5 billion.
The deal follows Cainiao and Alibaba’s investment in the $1.38 billion funding round of leading delivery company ZTO Express in May.
CNFinance, which claims to be the second largest home equity loan service provider among non-traditional financial institutions in China, booked $581 million in revenue for the 12 months ended March 31, 2018.