China Tech Newsletter – Sept 9, 2015

Cheng Wei, CEO of Didi Kuaidi, confirms that the company has closed a US$3 billion round of funding. Investors include China Investment Corporation and Ping An Insurance (Group) Company of China, he said at the Annual Meeting of the New Champions 2015 of The World Economic Forum. (via Sina Tech)

The company also announced today to rebrand as Didi Transport (our translation). Today marks the third anniversary of the launch of Didi Dache mobile app.

Starting from taxi hailing, Didi now also provides private car-hailing, real-time ride sharing, car pooling, private chauffeur and commuter bus services.

Didi Dache and its direct competitor Kuaidi Dache merged earlier this year and the company is mainly managed by Didi Dache’s management.

Alibaba Group announces Alibaba Sports Group together with Sina, the leading online news site, and YF Capital, a venture capital firm co-founded by Alibaba’s Jack Ma. — Forbes

LeTV has invested in electric vehicle charging install company Dianzhuang. (via Sina Tech)

Bus-pooling service Pick Me (or Jiewo) has raised Series A funding led by Alibaba Capital and joined by Ce Yuan Ventures.

Qihoo’s Coolpad Divorce: Real Or Bargaining Move?” — A nice article by Doug Young on the Qihoo-Coolpad dispute .


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