Chinese bike-sharing startup Ofo raises $866M in new financing led by Alibaba Group

Beijing-based, bike-sharing startup Ofo has raised $866 million in new financing led by Alibaba Group to fuel its expensive competition with Mobike, which is backed by Tencent, one of Alibaba’s biggest rivals. Ofo and Mobike are the two largest bike-sharing companies in China. Ofo claims that this is the largest amount raised in a round […]

Powered by WPeMatico