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China Roundup: SoftBank leads Didi’s $500M round and Meituan crosses $100B valuation

China Roundup: SoftBank leads Didi’s 0M round and Meituan crosses 0B valuation Hello and welcome back to TechCrunch’s China Roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people in the rest of the world. Last week, we had a barrage of news ranging from […]

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SoftBank led $500M investment in Didi in China’s biggest autonomous driving round

SoftBank led 0M investment in Didi in China’s biggest autonomous driving round The race to automate vehicles on China’s roads is heating up. Didi, the Uber of China, announced this week an outsized investment of over $500 million in its freshly minted autonomous driving subsidiary. Leading the round — the single largest […]

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Uber pulls back from operating profit target

Uber pulls back from operating profit target Uber is walking back its guidance for what was supposed to be a milestone year for the ride-hailing company that included reaching an operating profit by the last quarter. Uber said Thursday it was withdrawing its 2020 guidance for gross bookings, adjusted net revenue and […]

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For Uber and Lyft, this week has been a wild ride

For Uber and Lyft, this week has been a wild ride Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. Uber and Lyft have been on quite a ride this year. After enjoying modest gains earlier this year thanks to an […]

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China Roundup: facial recognition lawsuit and cashless payments for foreigners

China Roundup: facial recognition lawsuit and cashless payments for foreigners Hello and welcome back to TechCrunch’s China Roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people in the rest of the world. This week, a lawsuit sparked a debate over the deployment of China’s […]

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China’s Didi to relaunch Hitch carpooling service this month

China’s Didi to relaunch Hitch carpooling service this month Chinese ride-hailing firm Didi Chuxing said today it will conduct a trial relaunch of its Hitch carpooling service in seven major Chinese cities with additional safety features by end of the month, more than a year after suspending the service following the murder […]

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Didi Chuxing to launch self-driving rides in Shanghai and expand them beyond China by 2021

Didi Chuxing to launch self-driving rides in Shanghai and expand them beyond China by 2021 Didi Chuxing will begin picking up ride-hailing passengers with self-driving cars in Shanghai in just a few months, according to company CTO Zhang Bo (via Reuters). The plan is to roll out autonomous pick-ups in Shanghai first, […]

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Didi Chuxing’s autonomous driving unit is now an independent company

Didi Chuxing’s autonomous driving unit is now an independent company Didi Chuxing’s autonomous driving unit is now an independent company, the Chinese ride-sharing and transportation giant said today. Didi’s autonomous driving team was created in 2016 and now has more than 200 employees in China and the United States. Didi’s announcement comes […]

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Didi Chuxing and oil giant BP team up to build electric vehicle charging infrastructure in China

Didi Chuxing and oil giant BP team up to build electric vehicle charging infrastructure in China Ride-sharing and transportation platform Didi Chuxing announced today that it has formed a joint venture with BP, the British gas, oil and energy supermajor. to build electric vehicle charging infrastructure in China. The charging stations will […]

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SoftBank pumps $2B into Indonesia through new Grab investment, putting it head to head with Gojek

SoftBank pumps B into Indonesia through new Grab investment, putting it head to head with Gojek Grab — the on-demand transportation app that is the Uber of Southeast Asia — today announced yet another investment on top of the $7 billion that it has raised to date. SoftBank is putting another $2 billion […]

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