Toutiao Asia invests USD 5 million in Taiwan’s taxi-hailing app “Taiwan Daichetai 55688” to accelerate transformation into a super app – BRIDGE Technology & Startup Information
Image source: Taiwan Taxi
Taiwan’s listed company Taiwan Taxi announced that venture capital firm Headline Asia, a subsidiary of Taiwan Taxi, the operator of Taiwan’s largest ride-hailing platform 55688, has invested $5 million in a $5 million investment in Taiwan Smart Life. Headline Asia will help 6.5 million users across 55,688 apps extend their customer service.
Taiwan Smart Life is the operator of 55688, the largest and most popular online car-hailing service platform in Taiwan, established in 2011. This investment aims to accelerate the expansion of 55688 to super applications and provide users with unparalleled one-stop solutions to life services.
At present, 55688 has more than 6.5 million users, providing online car-hailing, dry cleaning, housekeeping, moving and other services.
Headline Asia Partner Joseph Huang said:
When I saw the app stickiness of 55688, I thought that this app has great potential to become a super app that is closely related to people’s daily life. People think that 55688 is just an online car-hailing platform, but in fact the app ranks first in multiple life service verticals.
Image credit: Translated by Cai Ren
Taiwan Taxi CEO Tracy Lin said:
This cooperation is based on the common vision of making 55688 a lifestyle-focused super app in Taiwan and the world. Taking advantage of the high traffic volume of existing ride-hailing services and leaning towards big data and artificial intelligence can also promote other related services.
On the other hand, high-margin services can also make up for low-margin services. Together with business partners, we will develop super apps that can increase traffic and bring new value to users.
Joseph Huang emphasized that the early adoption of digital technology and innovation by taxis in Taiwan is the key to Taiwan’s continued leadership in the transportation industry.
As a strategic partner, Headline Asia’s commitment goes beyond funding. We hope that the success of this cooperation will allow more traditional Taiwanese companies to embrace digital technology and transform, and show the world that Taiwanese companies are capable of creating first-class startups and applications.
Toutiao Asia leverages startup discovery tools
Headline Asia makes global seed-to-Series A investments in internet technologies, with a focus on e-commerce, logistics and fintech.
Image source: Asia Headlines
They use artificial intelligence systems EVA and Athena to discover startups. EVA analyzes various data on the Internet, such as entrepreneurial financial statistics and technology fields. Additionally, you can calculate the Net Promoter Score (NPS) for each startup. Every time EVA screens 1 million start-up companies around the world, Toutiao Asia’s team can deeply dig and analyze 10,000 start-up companies.
Then they target the startups they want to dig deeper into, and then use Athena to analyze each startup’s financial data. The two AI systems will enable Headline to scour the world for startups and make investment decisions that are entirely data-driven.
Combining artificial intelligence systems with various networks and resources, Headline Asia will continue to look for startups in the field of Internet technology and large companies that need digital transformation solutions.
【via Meet Global by Business Next (Digital Age) 】@meet_startup
【original】
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