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HONG KONG: The recent game of musical chairs is continuing for bankers selling initial public offerings (IPOs) in Asia, with Bank of America Corp (pic) the latest to announce changes.
IT SEEMED like a nutty idea at the time – and it still does. Three years ago, Hu Weiwei and her co-founders decided to start a business letting people share bicycles for pennies per ride. People could hop on for a quick ride to the subway or supermarket, then leave the bike right out front without the hassle of finding a parking rack.
Ride-hailing company Uber Technologies Inc said it has agreed to buy electric bicycle service JUMP Bikes, allowing Uber to offer US passengers an alternative to cars and further consolidating the crowded bike-sharing industry.
Chinese online services giant Meituan Dianping will acquire leading shared-bike company Mobike for more than US$3bil (RM11.59bil), multiple reports said on April 4, escalating a turf battle between some of the world’s biggest Internet companies.
Alibaba Group Holding Ltd is buying full control of the startup Ele.me as it steps up efforts to expand in China’s fast-growing market for local delivery of food and other services.
Indonesian ride-hailing and online payment company Go-Jek is set to announce its first expansion to another country in South-East Asia in the "next few weeks", according to an internal company email seen by Reuters.