Mobike, the Chinese bike sharing app that has transformed China’s landscape, was acquired by Meituan Dianping for $2.7B on April 4, 2018. Hillhouse was an early investor in Mobike. The company known for its ubiquitous dockless orange bicycles that are powered by GPS and an easy to use app had made short commutes in China vastly easier in the two-plus years since it launched in early 2015.

Hillhouse is also an investor in Meituan.