The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

01zhuanche.com

Stage

Series C | Alive

Total Raised

$227.53M

About Shouqi Limousine & Chauffeur

Shouqi Limousine & Chauffeur provides app-based car booking services with a fleet of authorized vehicles.

Shouqi Limousine & Chauffeur Headquarter Location

Beijing, Beijing,

China

+86-400-660-1066

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Expert Collections containing Shouqi Limousine & Chauffeur

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Shouqi Limousine & Chauffeur is included in 1 Expert Collection, including Mobility-as-a-Service.

M

Mobility-as-a-Service

559 items

Companies developing solutions to streamline the way people move themselves. Includes companies providing on-demand access to passenger vehicles and micromobility solutions as well as companies integrating multiple modes of transport, including public transit, into one service.

Latest Shouqi Limousine & Chauffeur News

Chinese ride-hailing giant Didi could get state investment

Sep 4, 2021

Deal could give Chinese authorities more leverage at company Share Via Chinese state investors are looking to take an ownership stake in ride-hailing giant Didi Global Inc., months after regulators punished the company with restrictions and made it one of the highest-profile casualties of China’s toughening stance on tech. The municipal government in Beijing is coordinating a proposed investment by a consortium of state-backed companies that includes a competing ride-hailing service, a person familiar with the matter said. The state investors are seeking voting rights in Didi, a second person said, because that would give the government significant influence over matters like data and other major corporate decisions. The deal could be structured like last year’s investment by state entities into a Chinese unit of NIO Inc., the U.S.-listed electric vehicle company, this person added. Didi pushed through with a $4.4 billion U.S. initial public offering in late June, even though the country’s cybersecurity watchdog had suggested to the company that it postpone its share sale. Didi has since been subject to punitive actions by Chinese regulators that have sent its newly listed shares plunging. The Chinese government has restricted Didi from accepting new users in the country, removed dozens of its apps from domestic app stores and put it under investigation by seven ministries. The potential deal, which was at a preliminary stage, would be led by Beijing Shouqi (Group) Co., a smaller, state-owned rival to Didi that is backed by the city’s Beijing Tourism Group Co., a person familiar with the matter said Friday. The proposed investment in Beijing-based Didi was earlier reported by Bloomberg. One potential scenario could see the consortium taking a so-called golden share with veto power and a board seat, Bloomberg said. Shouqi Group counts Beijing Tourism Group, which is wholly owned by the Beijing government, as one of its biggest shareholders. A Shouqi Group subsidiary runs Shouqi Yueche, a ride-hailing service with more than 100 million users. Shouqi Group wants to share Didi’s resources and its Shouqi Yueche service could be co-run by the two companies, the person familiar with the matter added. One possibility would be for Shouqi Yueche to be folded into the Didi app, this person said. The Beijing government, Beijing Tourism Group, Didi and Shouqi Group didn’t immediately reply to requests for comment sent after business hours. The pressure on Didi forms part of a broader regulatory crackdown on Internet companies and other businesses in China that has forced many tech startups to reconsider overseas IPO plans and given global investors pause about investing in companies from China. Days after Didi’s listing, China said it would tighten rules for companies seeking to sell shares abroad. A draft regulation requires tech companies with data from more than one million users to undergo cybersecurity reviews before pursuing foreign listings. Didi has been in discussions with authorities in China about options that could address data-security concerns. In late July, The Wall Street Journal reported that Didi was considering going private to placate China, and was considering bringing in state-backed investors for financial support and guidance on data issues. Didi’s American depositary shares closed Thursday at $8.81 each, down from an IPO price of $14. They were up around 2% in Friday afternoon trading. The number of ride-hailing orders handled by Shouqi Yueche in July grew by 40.8% from a month earlier, one of the fastest growth rates for a major ride-hailing firm, according to data from the Ministry of Transport. Orders at Didi rose 13.1%. The ministry data don’t include market-share figures, but Didi is by far the country’s largest operator. China is moving into internet-content companies by acquiring stakes, filling board seats and sending dedicated regulators to police content at firms more frequently. In April, Beijing ByteDance Technology Co., the China-registered entity of ByteDance Ltd., sold 1% of its shares to a state-backed firm, according to publicly available government records. It also granted the state-backed firm the right to appoint a director to its board, The Wall Street Journal has previously reported. Subscribe to Mint Newsletters

Shouqi Limousine & Chauffeur Web Traffic

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  • Where is Shouqi Limousine & Chauffeur's headquarters?

    Shouqi Limousine & Chauffeur's headquarters is located at Beijing.

  • What is Shouqi Limousine & Chauffeur's latest funding round?

    Shouqi Limousine & Chauffeur's latest funding round is Series C.

  • How much did Shouqi Limousine & Chauffeur raise?

    Shouqi Limousine & Chauffeur raised a total of $227.53M.

  • Who are the investors of Shouqi Limousine & Chauffeur?

    Investors of Shouqi Limousine & Chauffeur include Baidu Ventures, NIO Capital, Silk Road Huacheng, China Minsheng Investment Group, Harvest Investments and 4 more.

  • Who are Shouqi Limousine & Chauffeur's competitors?

    Competitors of Shouqi Limousine & Chauffeur include Cao Cao Mobility and 1 more.

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