Venture-Backed Dadabus Gets $20M Investment From Fujian Newchoice Pipe

Dadabus, a Shenzhen-based mobile app developer providing bus booking services, has received RMB128 million (US$20 million) strategic investment from Shenzhen-listed plastic pipe maker, Fujian Newchoice Pipe Technology Co., Ltd., according to a disclosure document (in Chinese). In return, Newchoice Pipe will obtain a 18.69% stake in the start-up, meaning the two-year-old start-up is valued at […]

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Read the original article: China Money Network