Ofo has nearly 12M users waiting for deposit refunds [South China Morning Post]

Early users of Ofo were asked to pay a 99 yuan deposit, which was later raised to 199 yuan, before they could rent a bike through the service. Users could request a deposit refund anytime via the Ofo app but there was a waiting period of 15 working days for the refund to be received, according to deposit refund instructions.

However, earlier this week hundreds of angry users were seen lining up outside the company’s Beijing headquarters to ask for immediate deposit returns. Some said they queued in the chilly winter because they failed to receive refunds online even after the allotted waiting period and they had read news on Chinese media outlets that riders who personally went to Ofo’s office on Sunday were able to get refunds right away.

LetsTransport raises US$14.3M  [press release]

Bengaluru-based logistics marketplace for intracity deliveries, LetsTransport, has raised a total of INR 100 crore (US$14.3 million) from Bertelsmann India Investments, Fosun International and other investors.

Currently operational in seven cities, the latest infusion of growth capital will be used for strengthening technology, adding new industry verticals to lock in marquee clients and for scaling up the company’s operations.

LetsTransport is a technology-enabled managed marketplace, which operates on an asset-light model wherein it partners to bring in operational efficiency for truck owners to cater to the within city logistics requirements. It claims its multimodal network of trucks clubbed with proprietary technology increases utilisation resulting in higher earnings for the trucks and a 30 per cent reduction in distribution cost for the client.

Its clients include Coca-Cola, Amazon, Metro Cash & Carry, Big Bazaar etc.

Qoo10 promises no more transaction and service fees on new QuuBe platform [ChannelNewsAsia]

Build it, and they will come. Or so the saying goes.

This appears to be the strategy e-commerce site Qoo10 is adopting as it looks to shake things up in the online shopping space.

The Singapore-headquartered online business is planning to officially launch its blockchain-based e-commerce site, QuuBe, in the new year. When it does, it said it will introduce a new way of approaching e-commerce as a business, removing the need for service or transaction fees usually imposed on online sellers.

Angry South Korean taxi drivers rally against carpooling service [Reuters]

Tens of thousands of South Korean taxi drivers walked off the job and held a rally on Thursday to protest against a carpooling service that they say would destroy their jobs and threaten their livelihoods.

The demonstration came days after the suicide of a taxi driver who set himself on a fire to protest against plans to introduce car-pooling service Kakao Mobility, a unit of mobile messenger operator Kakao Corp.

“If the service is implemented, my income will shrink by half. I’ll fall into poverty,” said driver Yoon Woo-seok, 62, at the rally in front of the National Assembly in the capital, Seoul.

NZ startup LearnCoach raises US$1.5M [DealStreetAsia]

New Zealand-based online education platform LearnCoach has closed a US$1.5 million seed round led by Eden Ventures. Other investors include Danny Chan, co-founder of ACG; and Andrew Preston, Founder of Publons.

Founded in 2012, LearnCoach creates video tutorials to teach subjects for students who can’t be in a physical classroom, or for those who want to extend beyond their classroom learning. About 150,000 students in New Zealand view the lessons more than a million times every year.

According to LearnCoach, the proceeds will be used to scale its education platform to reach more students and produce more tutorials.