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Bolt Bikes launches e-bike subscription platform for gig delivery workers in U.S., UK

Bolt Bikes launches e-bike subscription platform for gig delivery workers in U.S., UK Bolt Bikes, the Sydney, Australia-based startup founded in 2017, is taking its electric bike platform designed for gig economy delivery workers to the U.S. and UK. The company is expanding on the heels of a $2.5 million seed round led by Maniv […]

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Joy Capital closes $700M for early-stage investments in China

Joy Capital closes 0M for early-stage investments in China Joy Capital, the venture capital firm that’s backed Luckin, NIO, Mobike and other investor darlings in China, just raised $700 million for a new fund focusing on early-to-growth stage startups. Launched in 2015 by a team of former investors at Legend Capital, the investment arm of […]

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Hellobike, survivor of China’s bike-sharing craze, goes electric

Hellobike, survivor of China’s bike-sharing craze, goes electric Just two years ago, investors were heavily pouring money into China’s dockless bike-sharing startups. Now that boom has busted with derelict bikes littering the streets of cities. Meanwhile, a new race has started for two-wheelers with motors — and one of the main players is a survivor […]

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This entrepreneur is donating unwanted bike-sharing cycles to underprivileged students in Myanmar

This entrepreneur is donating unwanted bike-sharing cycles to underprivileged students in Myanmar What is the world to do with the graveyards of dockless bicycles left over after China’s bike sharing startups retreated from global markets? One man has come up with the best idea to date: donate them to students who need them. Entrepreneur Mike […]

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China’s grocery delivery battle heats up with Meituan’s entry

China’s grocery delivery battle heats up with Meituan’s entry Fast, affordable food delivery service has been life-changing for many working Chinese, but some still prefer to whip up their own meals. These people may not have the time to pick up fresh ingredients from brick-and-mortar stores, so China’s startups and large companies are trying to […]

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Meituan confirms Mobike’s retreat from most overseas markets

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 […]

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

China’s Didi reportedly lost a staggering .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 […]

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

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 […]

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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 […]

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

Neuron Mobility raises .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 […]

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