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Ant Financial Invests RMB 1.9 Bln to Increase Stake in Hellobike to 36.7%

Youon, 6/01/18

Changzhou-based public bicycle system operator Youon Public Bicycle System, which, via subsidiary Youon Low Carbon Technology, operates mobile bike share apps Youon and Hellobike, disclosed today that Alibaba Group (NYSE: BABA) financial services affiliate Ant Financial and other investors apart from Youon Public Bicycle have made a capital increase of RMB 2.06 bln in Youon Low Carbon. Read More

Ant Financial Joins USD 350 Mln Round in Dockless Bike Share Service Hellobike

Tencent Tech, 12/04/17

Changzhou-based Youon Low Carbon Technology, operator of bike sharing app Hellobike, recently announced completion of USD 350 mln in Series D1 funding from Ant Financial, the financial services affiliate of Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA), Beijing-based electric car maker and new energy travel solutions provider WM Motor Technology, Chengwei Capital, and Tianjin-based bicycle maker Fushida Bicycle (Battle). Read More

NetEase's AI Unit, Electric Car Maker WM Motor Ally on Connected Car

NetEase Auto, 12/01/17

Chinese internet company NetEase's (Nasdaq: NTES) artificial intelligence business unit (NetEase AIBU) and Beijing-based electric car maker and new energy travel solutions provider WM Motor Technology have signed an exclusive strategic partnership agreement to create an "Internet+" modern smart car. Read More