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Brian Gu, the VP and President of the electric vehicle startup Xpeng Motors, said that industry-wide subsidy cuts by the Chinese government will more deeply impact competitors and also help accelerate the Xpeng’s drive towards innovation. In the CNBC interview, Gu also said that Xpeng will expand into the ride-hailing sector. IDG Capital co-led Xpeng's $348 million Series B round in 2018.
Coinbase, a San Francisco-based cryptocurrency trading platform, will offer Visa debit cards to users in six more European countries – Spain, Germany, France, Italy, Ireland and the Netherlands. Customers can now spend their Coinbase cryptocurrencies online there, in addition to the United Kingdom. IDG Capital was an angel investor in Coinbase in 2013.