China Tech Newsletter – Feb.17, 2016

Lyft’s US users will be able to use its service via Didi in China in two to three months, John Zimmer, President of Lyft, said so today in Beijing. (via Sina Tech)

Didi, now the largest transportation network company in China, announced a US$100 million investment in Lyft last year.

Uber is losing more than US$1 billion a year in China. — QUARTZ

Apply Pay will launch in mainland China tomorrow (Feb. 18th). — Reuters

Alibaba Group has acquied a 5.6% stake in Groupon, making it the fourth largest shareholder in the latter. — Bloomberg

Perfect World Pictures will help fund at least 50 Universal Pictures films over a five-year period. — Reuters

Autohome reports results for the fourth quarter and full year of 2015.


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