Didi commits $1 billion to bike-sharing as part of expansion plan

April 29, 2020
CPG More...
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by Chad Goldberg
Very important

SoftBank and Legend Capital have reportedly contributed $150 million in outside funding to Didi's bike-sharing unit Qingju, an addition to the reported $850 million of internal funding from Didi itself. The move and amount are surprising considering the rocky history of bike-shares in China. However, the timing may be appropriate, as consolidations and bankruptcies have nearly normalized China's bike-share market to a point that may promote improved operations and competition. Additionally, in a time when commuters are wary of public transportation, Didi may view this as an opportunity to inject some cash in and reinvigorate an affordable mobility option that promotes social distancing, though Didi has not specify how funds will be used.

For the original news article, click here .

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