Fundings and Exits

A week after spinning out its driver services business and giving it $1 billion in investment capital, Didi Chuxing has added to it through an acquisition. Xiaoju Automobile Solutions (XAS), which the Didi spinout is called, announced today it has bought Hiservice, a three-year-old company that provides after-service care for car owners using a digital platform.
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Walmart sold its China-based e-commerce business in 2016, but the U.S. retail giant is very much involved in the Chinese internet market through a partnership with e-commerce firm JD.com. Alibaba’s most serious rival, JD scooped up Walmart’s Yihaodian business and offered its own online retail platform to help enable Walmart to products in China, both on
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Jeffrey Katzenberg’s new mobile video startup NewTV, now headed by CEO Meg Whitman, has closed on a billion in new funding in round led by Meg Whitman and Jeffrey Katzenberg, the company has confirmed. WndrCo, Katzenberg’s tech and media holding company, officially announced the round’s close on Tuesday, following last month’s report from CNN which had first leaked
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Another acquisition for French carpooling platform BlaBlaCar: It’s picked up Russian Internet giant Mail.Ru’s relatively recent rival offering, BeepCar, in what’s being billed as both an acquisition and a partnership. BlaBlaCar says the move is aimed at consolidating its international growth. “Through this acquisition, we are doubling down our commitment to develop carpooling in Russia,
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Civil, the blockchain-based journalism organization, is casting its eye to Asia after it set up a $1 million fund that’s aimed at seeding 100 new media projects across the continent over the next three years. The organization has teamed up with Splice, a Singapore-based media startup which will manage the fund, according to an announcement. There’s
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