“Technology drives travel evolution”
|Founded:Sept 2016 in Hangzhou, China
Category: Travel Service, Ride Sharing, Apps
Primary office: Shanghai, China
Employees: 4,000 – 5,000
Amount raised:$1.8B billion(7 rounds – December 28, 2018)
- Hello Bike – bike sharing (mainly serving travel under three kilometers)
- Hello Moped – a new type of moped that uses motor and battery as auxiliary power, and includes an intelligent sensor system integrating human pedal force with motor assistance
- Hello Vehicle Service – provides vehicle service content including rental and sales integration, localized service, intelligent travel, safety guarantee, unified standardized power exchange, etc.
- Hello Swap – full life-cycle shared power exchange services (based on lithium batteries, utilization of residual value of electricity, and IoT)
- Hello Travel – “last mile” travel customized products such as parent-child cars, family sightseeing cars and mopeds for scenic areas
- Hello Ride Sharing –new car-sharing service platform with objective that everyone can afford a car
- Hello Ride Hailing – Limousine & Chauffeur services (in cooperation with Didi Chuxing and Shouqi)
- Hello Life House – provide users with peripheral products, focusing on high-quality and cheap travel and sports products
- Strategic cooperation agreements with 70+ municipalities
- Promote nationwide Zhima Credit deposit-free riding
- Alipay to facilitate quick and safe mobile payment
- Collaborate with traffic management department to provide big data support for future smart transportation
- Promote through social media (e.g., Weibo, Facebook, Twitter)
- Improve social image and awareness by launching charitable activities (e.g., helping lost and abducted children in poor families, creating exclusive riding courses for children with autism, and serving cultural travel to help the poor)
- Strategic operations: Focused on second- and third-tier cities before its competitors (winning valuable time to accumulate word-of-mouth and operational experience) and then entered large cities
- Big data, artificial intelligence and cloud computing applied to entire business
- Balancing excellent cost control capability and ultimate user riding experience
- Great financing ability and investment support from Ant Financial
- Hello Brain – intelligent decision making based on big data, artificial intelligence and cloud computing
- Serial entrepreneur CEO with abundant entrepreneurship experience and innovative sprit
- Merged with Youon Bike
- Independently developed intelligent hardware to improve transportation efficiency (e.g., Bluetooth road stud, Argus intelligent visual interaction system, electronic fence)
- Diverse travel options from bicycle sharing to ride hailing
- Scale in second- and third-tier cities before competing in big cities (avoiding costly competition)
- Strategy based upon recognition that short-term competition is on delivery density and speed and long-term competition is based on operational efficiencies
- Adhere to the core value of using technology to promote travel revolution
- Business strategies based on operational big data collection
- Use 5G technology to support real-time identification (with high-precision image recognition)
- Public welfare activities to expand public awareness and enhance social image
- Explore new markets, such as ride hailing and car sharing (bike sharing market is saturated)
- Large investment in technology to provide better tools and improve offline efficiency, increasing vehicle delivery density and speed
- Increase operational efficiency
- Expand artificial intelligence applications
- Increase travel plan offerings
- Social responsibilities
- Energy saving and environmental protection
- Continue extending product line to cover more diversified travel services and increase penetration into users’ lives
Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely
- Build company value using an artificial intelligence powered decision making factory
- Develop capabilities to cost effectively attain scaling master plan objectives
- Scale up i) Upgrade capacity of existing scale model that works; ii) Automate and self serve; iii) Make no substantial change to scale model; iv) Reduce administrative efforts; v) Take advantage of cost effective and efficient technology; and vi) Outsource what others can do better
- Apply big data, machine learning and artificial intelligence to generate predictive analytics and enhance automation
- Develop capabilities to capture and use data from every interaction with every customer, supplier, partner and user to drive informed decision making across all levels of the company Hire scale experienced talented people to implement the scaling master plan
- Operate a large data collection and service center
- Use scientific and technological advances to develop innovative offers
- Arrange and apply resources from different regions early, rapidly and securely
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- Nan Yang