Sign up to receive our
daily summary of tech news for free.

A bike from Didi's Qingju bike-sharing service.
Exclusive
Uber/Lyft Asia

SoftBank, Legend Invest $150 Million in Didi Chuxing’s Bike-Sharing Unit

Photo: A bike from Didi's Qingju bike-sharing service.

China’s ride-hailing giant Didi Chuxing has raised $150 million from SoftBank and Legend Capital for its bike-sharing unit, Qingju. This is the first time it has raised money from outside investors for the business, according to people with direct knowledge of the deal.

Media reports in recent days have suggested that Didi raised $1 billion for the bike-sharing unit. But $850 million of that came from Didi itself, which was continuing its previous investment in the unit, the people said. Didi first expanded into the bike-sharing market when it acquired Bluegogo, a bankrupt bike-sharing startup, two years ago. 

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The Takeaway Google Facebook
What Would Have Happened at Allen & Co.’s Sun Valley Conference (or at Least I Think So)

In pre-pandemic times, the most well-known CEOs in tech and media would have spent this week in Sun Valley, hobnobbing, taking nature walks, and yes, doing a little business as part of investment bank Allen & Co.’s storied conference. 

I’ve been on the sidelines of the event for around a decade on and off, reporting and watching the CEOs in their not-so-natural ...

Latest Briefs
 
Facebook Considers Banning Political Ads Ahead of November Election
Amazon Backs Away From Employee Ban on TikTok
Rackspace Files to Go Public
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Exclusive Economy COVID-19
Under Armour Seeks Buyer for MyFitnessPal App
A few years ago, Under Armour made a splashy entrance into the burgeoning market for digital fitness apps with a series of acquisitions.
Org Charts Facebook
The People With the Power at Facebook After Chris Cox’s Return
In Facebook’s upper ranks, what’s old is new again. That’s because Chris Cox, one of Facebook’s most senior executives, recently returned as chief product officer, reporting to CEO Mark Zuckerberg, after a yearlong hiatus.
Google Facebook
Facebook, Google Ad Market Rebounds From April Bottom
Digital advertising, the main source of revenue for Facebook and Google, just finished one of its most difficult three-month stretches ever.
Exclusive Media/Telecom Entertainment
Microsoft Expresses Interest in Acquiring Warner Game Unit
Microsoft has expressed interest in acquiring the games division of Warner Bros., the publisher behind popular game franchises based on Batman, Harry Potter and other characters, according to two people familiar with the situation.
Startups to Watch Venture Capital Startups
How Five Startups Responded to Economic Upheaval
The coronavirus pandemic has disrupted the tech startup landscape, driving some companies out of business and pushing others to the brink.
The Briefing Uber/Lyft
Why Uber’s Postmates Deal Doesn’t Deserve Celebration: The Information’s Tech Briefing
Uber's 6% stock price rise on Monday suggests investors like the company's $2.65 billion acquisition of Postmates.