Xiaochun Zhao

The 5-year old startup counts SoftBank, Sequoia Capital, Lightspeed Venture Partners and Huazhu Hotels Group as backers.

Valued at USD35 billion excluding Douyin’s valuation, Toutiao is also raising a round and is seeking funds from KKR and Jack Ma-backed Yunfeng Capital.

The round is co-led by Coatue, Tencent, Sequoia Capital China, and Yunfeng Capital.

Pinduoduo, which rides the wave of popularity of WeChat, claimed it has punished over 200 stores on its platform, less than three out of ten thousand among its monthly active shop owners.

The company is making hefty investments to fuel overseas expansion and is locked up in a subsidy-fueled battle with Meituan-Dianping at home.

Didi Chuxing has drawn fire from the public after the death of a female passenger allegedly killed by a Didi driver.

The bike-sharing startup said it has turned a profit in over 100 Chinese cities.

Singapore may be the first country for Grab to kick off its robo-taxi services.