Pandaily's Digest #20210513
Luckin’s Ex-chairman Charles Lu Launches a New Venture, WeRide Completes Series C Financing, Dingdong Maicai Raises $330 Million in Latest Funding Round, and more.
Luckin’s Ex-chairman Charles Lu Launches a New Venture: Chain Restaurants
Charles Lu, founder of the controversy-ridden Luckin Coffee, now its ousted CEO, is said to embarking on his next venture: noodles restaurants, according to the latest from 36kr.
Autonomous Driving Startup WeRide Completes Series C Financing, Bringing the Valuation of the Firm to $3.3 billion
WeRide, a global autonomous driving company, announced today it raised hundreds of millions of dollars in its Series C financing, from IDG Capital, Homeric Capital, CoStone Capital, Cypress Star, Sky9 Capital, K3 Ventures, and others.
Chinese Tech Giant Tencent Launches New Video Platform to Attract Elderly and Rural Consumers
Chinese tech giant Tencent launched a new video platform named Pianduoduo that rewards users for watching videos, aiming at constantly expanding among the elderly and rural populations.
Chinese Online Grocer Dingdong Maicai Raises $330 Million in Latest Funding Round
Chinese grocery platform Dingdong Maicai raised $330 million in a Series D+ round of financing led by the SoftBank Vision Fund, according to investor and advisor Cygnus Equity, as the startup continues its expansion in the crowded fresh food delivery market.
Chinese Cybersecurity Giant 360 to Cooperate with NETA Auto to Make Electric Cars
Chinese Internet security giant 360 announced on Tuesday a new partnership with NETA Auto, suggesting they will follow the philosophy of “making cars for the people”.
Taiwan’s Gigabyte Sparks Social Media Outcry After Firm Mocks Chinese-made Products
Taiwanese computer hardware manufacturer Gigabyte apologized on Tuesday after it was found referring to Chinese-made products as suffering from low quality, sparking heavy criticism from Chinese net users and removal from e-commerce sites.