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Burned 1.8 billion, with a market share of less than 1%! Has Alibaba raised another "wasteful child"? | BUG
Written by | Sina Technology Zhang Jun Recently, an Alibaba-affiliated online car-hailing platform has attracted attention as it rushes to launch an IPO in Hong Kong. This little-known company, Shengwei Times, operates an online car-hailing brand called '365 Car Hailing.' With Alibaba Travel as its largest shareholder and the support of Gaode's traffic, it can compete with mainstream online car-hailing platforms. In its prospectus, it claims to be the second-largest online car-hailing platform in china, but this calculation is based on the number of online car-hailing operating licenses. If calculated by order volume, its market share for the first half of this year is even less than 1%. Additionally, although it has obtained a significant number of orders through Gaode, ...
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U.S. stocks closed: The three major indices hit new highs as Trump rallied the cryptos craze, and the AI applications and chip sector saw more bullish earnings reports.
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