Zhu Xiaohu (also known as Allen Zhu), managing director of venture capital firm GSR Ventures, recently said that he and Chinese angel investor Masterly Wang have invested in a new retail services company that will offer convenience store services to users of Didi Express, the budget private car hire and ridesharing service within the Didi Chuxing app. Riders will be able to purchase items such as drinks, snacks, and umbrellas while riding in a Didi Express vehicle. Zhu did not disclose the name of the new project.
In addition, Zhu Xiaohu denied rumors that mobile bike share companies Mobike and Ofo have decided to merge. Zhu had previously commented at the end of September that a merger between the two companies was the only way for their operations to become profitable.
GSR Ventures has participated in several of Ofo's funding rounds.
Editor's Note: For more information on this topic, please see Mobile Bike Sharing App Ofo Raises USD 450 Mln Series D, MD 3/01/17 issue.